Why are Prices Going Up?

Why are Prices Going Up?

You may have heard about pricing going up in all sorts of industries, from consumer goods to construction. Unfortunately the bike industry is not immune to increased costs.

There are a number of factors at play and we'd like to take this opportunity to show what’s happening behind the scenes at EVELO.

What’s Happening

On July 15th we’re increasing the price on 3 of our eBike models.

Model Current Price New Price Estimated Shipping
Aurora Limited $3,999 $4,199 Early August
Galaxy 500 $3,999
$4,199
Early August
Compass
$3,999
$4,299
Early August

If you have already ordered - This increase does not affect you. Only new orders on or after July 15th.

Why it’s happening

External factors are increasing the costs to manufacture and transport bikes. These are beyond our control and impact the entire industry.

#1 Cost of materials & components

It’s more expensive to build bikes as the raw materials and price of components has increased. Aluminium has gone up 25% year over year and key components on the bike have risen between 10 to 20%.

#2 Cost of shipping

It’s more expensive than ever to ship the bikes. Our costs have risen 2-3 times what they were in 2019. This is due to an increased demand in consumer goods and reduced shipping carrier capacity. Right now there aren't enough ships to carry the enormous increase in global trade.

#3 International Exchange Rates

The USD has decreased when compared to international currency. We buy components, raw materials and pay for shipping in other currencies. Our effective spending power has decreased by 8%.

For most, this update won’t come as a big surprise as the entire biking industry is going through the same challenges. We wanted to give you as much information and notice before the price changes so you can make an informed decision.

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