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Cycling Weekly
Cycling Weekly
Sport
Tom Davidson

Giant profits fall 49% with 'weak demand' in US and Europe

Giant Europe United States Taiwan
Blue Giant bike frame with a rider's hands on the hoods.

The world's largest bike manufacturer Giant has seen a slump in trade in recent months, citing "high inventories" and “weak demand” from the US and Europe markets. 

The Taiwanese company reported a pre-tax profit of NT$1.51billion (£38.1million, $47.8million) in the third quarter of 2023, a fall of 49% compared to the same period in 2022. 

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