Halfords' Sales Top 1 Million as Bike Boom Continues

Halfords sells more than 1 million bikes a year as consumers switch to pedal power to beat the recession.

Halfords, the UK's leading automotive and leisure products retailer, announces it sold more than 1 million bicycles in the year to end March for the second consecutive year. Once again Halfords sold more than one in three of all new bikes in the UK.

Above: Bikes bought on the government's Cycle2Work scheme account for a substantial part of the sales boost.

This performance is thanks partly to a surge in sales to commuters who, in particular, are taking advantage of Government backed incentive schemes and taking their journey to work by bike. Sales, across the country, through the Government's increasingly popular Cycle2Work scheme, rose by almost 50% to 34,000 in 2008/9, in sharp contrast to new car sales, which fell 11% in 2008.

Cycle2Work enables employees to buy a bike tax free in 12 monthly instalments, provided they use it for their travel to work. Halfords has now sold more than 80,000 Cycle2Work bikes since the scheme was introduced in 2005.

As part of its commitment to cycling, Halfords is today announcing that it plans to integrate the wider ranges in its standalone Bikehut stores into its main superstores, ensuring that customers have access to the fullest possible selection of products.

David Wild, Halfords' Chief Executive, commented: "We are delighted with the strength of our bike sales in these tough times on the high street and our customer feedback suggests that many of them are cycling for the significant economic, environmental and health benefits. The tax benefits of the Cycle2Work scheme means that customers are able to buy higher specification bikes and we have been particularly pleased with sales of our award winning Boardman bike range, designed in partnership with Olympic champion Chris Boardman MBE (pictured right).

"It was a great achievement when one of Halfords' Boardman bikes was ridden to Olympic victory by Nicole Cooke in Beijing last year and sales of the Boardman range are now exceeding established premium brands. We remain committed to supporting cycling through our partnership with British Cycling in 2009 and the sponsorship of the road race Premier Calendar series. We are also in our second year of pro team sponsorship supporting many aspiring 2012 cyclists. Cycling is undergoing a renaissance in Britain thanks in no small part to Team GB's outstanding Olympic success and we are delighted to be part of it."

More: www.halfords.com