Price increases, has anyone come across any since Friday?

[KTM Bike Industries UK]

I guess you meant the European brand will buy its components in US dollars from the Far East...
..

I did, good spot, and I've amended it.

Regarding your other points, I was trying to be optimistic...

I'm also hoping that in a few months, there will be decisions made that allow the country to go back on this decision, and I do believe the markets will bounce back very quickly at even a hint that we'll remain after all.

 

[Gubbins]

I did, good spot, and I've amended it.

Regarding your other points, I was trying to be optimistic...

I'm also hoping that in a few months, there will be decisions made that allow the country to go back on this decision, and I do believe the markets will bounce back very quickly at even a hint that we'll remain after all.

By decisions made I hope you dont mean going against a democratic decision... Decisions made.. I suspect you are right that behind the scenes wheels are in motion to try to go against this.
I am highly amused by all this polava from the loosing side .. We, yes WE!!!! voted for it!
I didn't vote for a conservative government, but we got one and I accepted it with good grace..

 

[Wisper Bikes]

In the same way that prices immediately fall in reaction to a strengthening pound. Oh, hang on a minute, they don't do they.

As I say, opportunistic profiteering.

Hi Tillson, if the £ was suddenly to recover from the crash by the 10%+ already lost, I think you would see the same reaction but in the opposite direction. We certainly would bring prices straight down, we and most others in business want to make their products and services as attractive and competitive as possible.

We could be in for even more increases especially on bikes imported from Europe if Tariffs come in. Judging by the mood of the Europeans at the moment this is a real danger.

All the best, David

 

[Wisper Bikes]

12% on 700 quid is not £10.36 is it lol and that is direct from Magura Bosch

I suspect that was a price increase that was on the cards long before the £ crashed?

 

[Gubbins]

Hi Tillson, if the £ was suddenly to recover from the crash by the 10%+ already lost, I think you would see the same reaction but in the opposite direction. We certainly would bring prices straight down, we and most others in business want to make their products and services as attractive and competitive as possible.

We could be in for even more increases especially on bikes imported from Europe if Tariffs come in. Judging by the mood of the Europeans at the moment this is a real danger.

All the best, David

I think the Europeans are going to have enough problems trying to keep the rest of the peasants in line...

 

[Wisper Bikes]

Earlier this year when the £ was buying 140+ € I bought a new battery from an ebike shop in Germany. I noticed that uk outlets didn't reduce their prices during this time..

Hi Phill, that would be because most of us set prices when the £ was much stronger last year. Since the date of the referendum was set last year the £ has steadily lost ground. Many of us have been working on reduced margins waiting for the outcome. Most thought we would return a remain vote so held off putting prices up until after the event. If the vote had been remain and £ had recovered we would not now be seeing these increases, we would have gone back to the status quo.

I am not being political, this is the reality.

All the best, David

 

[Wisper Bikes]

OK, I dont know a lot about these things.. But, will they be reduced by 12% when things get back to normal?

Certainly Phil, no one wanted to see the £ crash and no one wants to be too expensive. As soon as we see the £ back to normal levels prices will fall and I suspect they will fall fall with immediate effect, no waiting.

All the best, David

 

[Wisper Bikes]

Good morning ladies and gentlemen. I am glad I bought and paid for my new wisper over a wekk ago. If I had had to pay any more, then I wouldn't have bought it to be honest.

In my humble opinion, it isn't in the sellers best interest to Increase prices to such an extent, as by doing this, fewer bikes will be sold, so less money will be made.

I have no doubt that when things calm down and people think rationally, and they see that things are not so bad, prices will come down.

Our economy isn't the only one with problems at the moment. The french stock market fell even more than ours, as did spain and another one. Give things two or three weeks to settle down and I think we will all see a noticeable differance.

Hi Carla, I agree we should all give it some time if we can.

Fortunately we have a good stock of Wisper bikes bought at the old price, these bikes should last for a few weeks and we will not be profiteering.

My next production run arrives on the 19th July and currently will cost us over 10% more than the bikes we have in stock. We simply don't make enough margin to be able to survive at the new costs without increasing prices. If we put prices up we will of course sell less bikes. So we are caught between a rock and a hard place. We are in the same boat as everyone else in the industry.

It's really tough for us all, buyers and sellers alike, regardless of what we are buying or selling. These discussions are happening in all industries not only the ebike business.

All the best, David

 

[Kudoscycles]

I am sorry I find this thread a load of rubbish. My cost prices have not changed significantly over 3 years,the £ fluctuates over an average of 1.40 to the dollar,it has been down low 1.30 back in February,but there has been recent forward buying opportunities at 1.45,forward buying allows buying 6 months ahead.
So,there is no justification in increasing prices unless there is a prolonged period at 1.30,even blips below that are easily covered by forward buying.
I import over 4000 different products from dollar priced currencies,as yet I have not found the necessity to increase the price of any product
KudosDave

 

[Yamdude]

I am sorry I find this thread a load of rubbish. My cost prices have not changed significantly over 3 years,the £ fluctuates over an average of 1.40 to the dollar,it has been down low 1.30 back in February,but there has been recent forward buying opportunities at 1.45,forward buying allows buying 6 months ahead.
So,there is no justification in increasing prices unless there is a prolonged period at 1.30,even blips below that are easily covered by forward buying.
I import over 4000 different products from dollar priced currencies,as yet I have not found the necessity to increase the price of any product
KudosDave

Well kudos to you for that..... very commendable seeing as some have already put prices up because of the pound.
I wonder if companies like Woosh that have put prices up will come on here to justify these price rises.... especially if those price rises have been added to stock they already had !

 

[Wisper Bikes]

I am sorry I find this thread a load of rubbish. My cost prices have not changed significantly over 3 years,the £ fluctuates over an average of 1.40 to the dollar,it has been down low 1.30 back in February,but there has been recent forward buying opportunities at 1.45,forward buying allows buying 6 months ahead.
So,there is no justification in increasing prices unless there is a prolonged period at 1.30,even blips below that are easily covered by forward buying.
I import over 4000 different products from dollar priced currencies,as yet I have not found the necessity to increase the price of any product
KudosDave

Dave, delighted you have deep enough pockets to speculate on currency but most of us don't. It's great for the very few wealthy businesses who have the cash and the foresight, but for smaller businesses it's simply impossible.

 

[Wisper Bikes]

Well kudos to you for that..... very commendable seeing as some have already put prices up because of the pound.
I wonder if companies like Woosh that have put prices up will come on here to justify these price rises.... especially if those price rises have been added to stock they already had !

Hi Yamdude, it depends on whether they pay up front for their bikes or have a credit account with their Chinese partners. If they have not yet paid for the bikes they will need to pay the post £ crash prices and so could not possibly stay in business if they were not to increase prices straight away.

Another point, and a point that I will have to come to terms with is that they will have to find the extra cash their next delivery from somewhere. It is likely to be well in excess of £10,000.

All the best, David

 

[Yamdude]

Hi Yamdude, it depends on whether they pay up front for their bikes or have a credit account with their Chinese partners. If they have not yet paid for the bikes they will need to pay the post £ crash prices and so could not possibly stay in business if they were not to increase prices straight away.

Another point, and a point that I will have to come to terms with is that they will have to find the extra cash their next delivery from somewhere. It is likely to be well in excess of £10,000.

All the best, David

All very well if its the truth of the matter..... but any company that cashes in on a situation to profiteer, is hardly going to admit it are they !

 

[Wisper Bikes]

All very well if its the truth of the matter..... but any company that cashes in on a situation to profiteer, is hardly going to admit it are they !

True!

 

[trex]

woosh increased prices by 5%.

 

[Wisper Bikes]

The £ has strengthened so far today by over 1%, let's hope this is all a storm in a teacup!

 

[Kudoscycles]

Dave, delighted you have deep enough pockets to speculate on currency but most of us don't. It's great for the very few wealthy businesses who have the cash and the foresight, but for smaller businesses it's simply impossible.

David....buying forward doesn't need to use cash. You have to predict how much dollar you need over say a 6 month period,you are given a guaranteed rate that insulates you from fluctuations over that period,but you only need to use cash when you call off what you need.
Rally Design has a rolling buy option that auto replaces what we use up to a max limit,when an exchange rate is triggered,the day before the referendum we got 1.47.
It all works very well,sometimes you lose when the pound strengthens,but at least your rate is predictable over 6 months.
Obviously you cannot buy at the moment because the rate is bad,but it's worth having the system in place when the pound recovers, the next Euro crisis will balance things out,don't forget Greece,Italy and Spain are all bankrupt countries.
Sorry if I am teaching you to suck eggs.
KudosDave

 

[Wisper Bikes]

Not at all David, really useful information, I completely get it. I had no idea such a mechanism existed to small businesses. Should I assume one would need to have the funds in place much like an ILC?

All the best, David

 

[Wisper Bikes]

Here we go again! The next round of Brexit price increases seem inevitable.

It's looking as if we are being forced into another £75 per bike hike... that's unless things improve this week.

At the current exchange rates, even with this increase our already tight margins will be reduced still further.

We were buying $1.47 dollars for £1 only a few weeks ago before the result, this morning £1 buys $1.24.

What a disaster!

 

[trex]

the Pound dropped to $1.23 this morning.