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“A lot of e-bike retailers and distributors have noted a big spike in interest and purchases, especially in the last few weeks, with rising gas prices,” said Ryan Citron, principal research analyst for Guidehouse Insights.
E-bikes were once used almost exclusively for recreation, says Don DiCostanzo, CEO of Pedego Electric Bikes of Fountain Valley, Calif. No longer.
“That’s changed, especially in the last few months; people are getting bikes for transportation,” he said.
Jeff Neibler, who owns two Pedego stores in northern Ohio, is a former general manager of three auto dealerships that sold Chevrolet, Buick, Cadillac and Ford brands and used vehicles. After nearly four decades in automotive sales, he knew he could apply what he learned to alternative forms of transportation. He opened his first Pedego store last July in Sandusky and is in the process of opening a store in Toledo.
Deloitte noted that while enthusiasts use e-bikes for round trips of 30 to 35 miles, approximately 60 percent of trips in the U.S. were five miles or fewer, a distance easy to manage on an e-bike.
E-bikes typically have a range of 40 to 70 or more miles on a single charge that costs about 20 cents, according to Citron. The average price for a gallon of gasoline was $4.17, according to the latest figures from U.S. motoring organization AAA.
Rad Power Bikes, a large North American e-bike maker, estimates that 30 percent of new customers have said rising fuel prices have contributed to their purchase decisions in recent weeks.
“We hear often from riders who have decided to become a single-car household, or even replace their car miles altogether because of the trips they can do on their e-bike,” a company spokesperson said.
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