The Pedego Electric Bike store in St. Louis normally closes for the month of February because there are not enough sales to justify keeping it open through the winter. This year, with an unusually large number of phone calls coming through, it re-opened early. February wound up being a “bonanza of a month” at the store, according to Pedego chief executive officer Don DiCostanzo, who oversees the e-bike brand’s 208 dealerships across North America. “We’re seeing a big spike in orders coming in way ahead of the season,” says DiCostanzo. “Every month there’s another record.”
Though he can’t prove it, DiCostanzo is convinced that rising fuel prices are driving sales. “I’m not going to tell you it’s all because of fuel,” he says. “But I absolutely believe it’s acting as a catalyst to get more people to consider alternate forms of transportation.”
Other e-bike brands and merchants in the U.S. tell a similar story: Sales are rising faster than expected, above already high expectations set by a pandemic boom. While the cause is hard to pin down — eased pandemic restrictions and the return to the office may play a part — most point to fuel prices as a contributing factor.
