Taiwan’s leading bicycle manufacturers—Giant, Merida, and Ideal—have reported continued revenue declines in the first quarter of 2026, extending the downward trend observed in 2025. (bicycleretailer.com)
Giant Group reported a 17% decrease in March revenue, totaling NT$5.6 billion (approximately $178 million). The first-quarter sales declined by 25.7% year-over-year. This downturn is partly attributed to the U.S. Customs and Border Protection’s Withhold Release Order (WRO) issued in September 2025, which suspended imports of Giant-branded products from Taiwan to the U.S. However, analysts note that less than 9% of Giant’s revenue comes from North America, and the company can fulfill U.S. orders from other Asian and European factories. (bicycleretailer.com)
Merida Industry experienced a 16.9% drop in March revenue, amounting to NT$2.4 billion. The first-quarter sales were down 34.6% compared to the previous year. Notably, Merida has implemented labor reforms, including ending the practice of charging migrant workers recruitment fees and refunding those previously paid. (bicycleretailer.com)
Ideal Bike saw a 31.4% decrease in March revenue, totaling NT$188.8 million, with first-quarter sales down 34.6% year-over-year. (bicycleretailer.com)
In contrast, some Taiwanese bicycle component manufacturers reported mixed results. KMC, a chain manufacturer, achieved a slight growth with a 1.8% increase in first-quarter sales. Cheng Shin Rubber, the parent company of CST and Maxxis, reported a 1.2% increase in first-quarter sales. Darfon Electronics, which produces bicycles and e-bikes through its Green Energy division, experienced a 9.9% increase in first-quarter sales, with March sales up 20.9%. (bicycleretailer.com)
These developments underscore the ongoing challenges faced by Taiwan’s bicycle industry, including reduced global demand and the impact of international trade policies.
Highlights:
- New bicycle sales in France continued to decline in 2025, Published on Friday, April 24