Thailand's bicycle market grows sharply

BANGKOK, January 16 (TNA) - Sales of bicycles in Thailand have grown over one billion baht annually, thanks to nationwide campaigns launched by both public and private agencies on cycling for people's good health. Sales on the domestic market of expensive bicycles in 2014, priced from over 10,000 baht to more than 500,000 baht per unit, grew more than 100 per cent. Some of high-end bicycles are produced from carbon fibre and weighed slightly more than four kilogrammes, 90 per cent of which are manufactured by wellknown European and American companies having relocated their production bases to China or Taiwan. Market share of bike trade in Bangkok alone is now about 30 per cent, while the rest is in upcountry. Tariffs on imported bicycles, if certified by sports association in Thailand for used as sport purposes, will be only one per cent. Despite the sharp growth, local bicycle manufacturers need to keep developing their products so that they become competitive with those produced by overseas rivals. (TNA)