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Good demand for bicycles due to increasing fuel price hike

Good demand for bicycles due to increasing fuel price hike
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First Published: Sun, Apr 20 2008. 11 17 AM IST
Updated: Sun, Apr 20 2008. 11 17 AM IST
By PTI
Chennai: Rising fuel prices have seen office goers, the young and old alike in Chennai increasingly turn to bicycles to commute to work and go to schools, colleges and other places.
“Riding cycles is no longer passe. Riding not only makes me feel energetic, but is also a good exercise to keep myself trim,” 18-year-old Govindarajan, a student of famous Loyola College said.
A top official of a major cycle manufacturing company said fuel price hikes every year meant that cycling was now the cheapest form of transport. An increasing number of two wheeler riders were also opting for travelling by cycle, Raghuram, senior vice president of TI Cycles said.
The industry has witnessed a surge in demand in the last three years after witnessing declining sales due to the boom in the scoter and motor cycle industry.
“We remained static, but of late have registered a negligible single digit growth. However it is a positive sign for the revival of the indsutry,” Raghuram, said.
He said the organised cycle industry in India produces over 10 million cycles. With unorganized players, contributing an equal number, India produces around 20 million cycles every year, he said.
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First Published: Sun, Apr 20 2008. 11 17 AM IST