The struggling U.S. automobile industry may do well to take some lessons from its non-motorized brethren because bicycles are selling like hotcakes.
Americans purchased more bicycles than new cars and trucks combined in the past year -- and all without employee discounts or zero-per-cent financing.
"Our sales have almost tripled in the last couple of years," said Bob Ippolito, executive vice-president at Pacific Bicycle, the largest bicycle distributor in the United States.
The company, which is owned by Montreal-based Dorel Industries Inc., sold five million bicycles last year, ranging in price from $50 (U.S.) to several thousand dollars.
Mr. Armstrong, 33, won his seventh consecutive Tour de France race last month and has been called the greatest rider of his generation.
His international success also filters down to the local bike shop's economy when customers want to wear what he wears: helmet, gloves, shoes and even the yellow winner's jersey.
"Bike sales and bike equipment is a $5- [billion] to $6-billion business per year," said Tim Blumenthal, industry specialist and executive director of Bikes Belong, a national industry association. "Bicycle sales are near an all-time high [with] 19 million sold last year -- close to the 20 million sold during the oil embargo in the early 1970s."
Bicycling in the United States shows no signs of waning.
With oil prices at an all-time high and the nation's obesity epidemic raging, more people are riding their bicycles to work.
"It's great for me because not only does it save me money, but also time -- I don't have to drive home to go to the gym. I can get my workout and transportation all at once," said Scott Thompson, 47, of Bellington, Wash., an engineer who started using his bicycle to commute to work two years ago.
