Rad Power Bikes, a prominent electric bicycle company in the United States, has recently implemented significant price reductions across its entire range of e-bikes. The company officially announced this decision today, essentially extending the favorable pricing seen during many of the top holiday sales from the previous year into permanent rates for 2024.
In an email statement, the brand conveyed, “We’re lowering 2024 prices across our lineup of award-winning electric bikes. From day one, our mission has been to create radical electric bikes that are built for everything, and priced for everyone. Now, we’re thrilled to make our high-quality, awesome electric bikes even more affordable and accessible for everyone.”
Rad Power Bikes has maintained a dominant position in the North American e-bike market for several years. The company expanded its reach into Europe and introduced an impressive mobile service system covering the entire United States, featuring its own branded service vans.
In recent years, Rad Power Bikes has faced intensified competition, eroding its market dominance and prompting a series of measures, including layoffs, discontinuing Rad’s mobile repair service, and closing its European operations.
The company had initially prioritized brick-and-mortar stores as a critical element of its business strategy, creating convenient hubs for bike testing, purchases, and service in multiple cities across the United States. In contrast, rival e-bike companies expanded their independent dealer networks, reducing reliance on significant real estate and labor investments. This shift has exerted additional pressure on Rad’s strategic approach.
While Rad continues to operate several physical stores, recent closures have sparked inquiries into the effectiveness of brand stores compared to broader independent bike shop dealer networks.
Once a leader in the budget e-bike market, Rad has adjusted its focus in response to the emergence of more affordable e-bikes, such as those offered by significant competitor Lectric Ebikes. This has led Rad to concentrate on moving up-market, offering higher-end models with corresponding higher price points.