Electric Bike Prices in 2024 - What to Expect with EBike Prices in the Next Year

Electric bike prices in 2024. What you can expect, stick around.

Hey everyone, I'm Dustin. I have nearly 20 years of experience in the bike and ebike industry and today we're going to talk about electric bike prices in 2024 and what you can expect. But before we get into it, hit the subscribe button below. Stay in touch with us here at Sixthreezero. Be the first to know about all the new content we're doing, giveaways we do, and of course, new product releases. Also, if you want to see this low step through bike, a simple step through e-bike from Sixthreezero. It's linked in the description below. Also linked up here in the corner of the video. All right, electric bikes are still growing in popularity in California. Here we are in Dana Point, California ebikes are everywhere. And as we head into 2024, there's a lot to know about the direction that e-bike prices may be going in the near future.

Now, ac Battery sizes, battery types, the technology used in the controllers, displays, the type of ebike, whether it's a trike, a fat tire, skinny tire, and what size are the tires. Also, of course, battery size has a big impact. Motor size has a very large impact as well. Now generally speaking, over the course of the last, let's say four years, we've seen electric bike prices continue to come down in price. Now it's a very similar trend. If you remember when plasma TVs came out or LCD TVs came out when they initially came out, they peaked at a very high price, and over time they came down as competition increased. Well, the e-bike sector is really no different at this point. A lot more people have got into the electric bike space.

Prices have come down. Same thing in the electric car space really, electric cars were more expensive 4, 5, 6 years ago. Now it's getting more competitive. You're seeing electric cars being priced at more reasonable prices and hopefully to promote mass adoption of electric transportation. Now, there are a couple of things to know about with ebike prices moving into 2024. I've started to see prices level off a little bit at where they're at now, we're not quite sure what demand will be in 2024 at this point. The 2023 demand has fallen off from what it was in 2022, but I am seeing particular increases in certain categories and sectors. Electric tricycles are becoming more popular. There are also alternative forms of e-bikes, with different wheel configurations. More unique products are becoming more and more popular, and demand is on the increase for those. But in general two-wheel e-bikes, competition is increasing. It's important to have unique features as a brand, which is why we have a very low step-through frame as an example.

But what I think is going to happen in 2024 is I think we're going to see prices maybe come down a little bit for regular two-wheel e-bikes, but they may also stay the same. There's one really important legislation piece with the US government.t right now electric bikes can be imported overseas at a 0% tariff, meaning companies and brands do not have to pay the United States government an import tariff on e-bikes. Now, if that's reinstated, that tariff could be 25%. Standard bicycles at this point are 36%. So basically, if a bike from a factory costs $100, the actual cost to the manufacturer would be $136. But that's also not including the freight to bring the bike over here. So if you're talking about the freight plus an added tariff, you're talking about the potential of adding an additional 30 to 35% to the cost of an e-bike for the brand.

And of course, some of that will be passed on to the consumer. Now again, that's a 35% increase in the cost, not an increase in the retail price. Now it's going to be up to the brands to decide whether they pass all of that cost over to the consumer or absorb some and pass some of it off to the consumer. I think inevitably some of it would be passed off to the consumer. But in order to keep sales high and the sector growing, a lot of e-bike companies are reducing prices or finding ways to change specs to reduce the price of the bike. Now the other thing too is a lot of the factories right now are sitting on excess inventory. So you may see the prices from factories start to decrease in 2024 as factories want to incentivize brands to buy more bikes to keep volume up as well.

Now, we haven't seen a huge cost decrease from factories yet, but I think that could be coming over time, and if that does, we may see prices of e-bikes come down over time as well. Again, right now with inflation and what's going on, it's a very weird market out there, so it's hard to know exactly what's going to happen, but the tariffs could play a key role in the pricing. So if everything stays normal, I think you'll see prices maybe come down a little bit into 2024, but you'll see some models stay the same. You may even see some unique models have a little bit of an increase in price if there's demand for the right consumer out there. So the tariff legislation, the tariffs are supposed to be imposed on January 1. They were supposed to be imposed back in September, but they got extended till January 1st.

So we will know more after that, what's going to happen with that, which will dictate the prices into next year or not. So stay tuned on that. So if you're in the market or looking for an e-bike, honestly, right now is a great time to buy. There are going to be tons of deals from Black Friday through Cyber Monday, even early spring, January, February is a great time to buy. March, April, and May are when huge demand for e-bikes and regular bikes goes up, and that's when a lot of manufacturers are going to have their prices back at the peak. So if you can do it now, and purchase it in the next five months, you're going to get the best deal. Then as you move into March, April, and May, you're going to see prices increase. June, July, they're going to level off. Then of course in the back end of summer, you'll see some discounts heading into Labor Day and things like that.

I think the overall trend though, over time, over the next five years, barring the tariffs is you're going to see e-bike prices come down. I don't know where the bottom is. I don't know how low the suppliers are going to go on their motors and their batteries. As production increases, the margin can go down and the prices to the consumer go down. So if the demand keeps increasing and volume continues to increase, prices will come down just like we saw in plasma TVs and LCDs, I don't think we're quite there yet with the mass adoption of e-bikes. So hopefully we continue in that same direction, which will continue to drive prices down for everyone. So, I hope that helps and gives you a sense of the pricing on e-bikes as we head into 2024. If you have any other questions at all, please comment below email us at theteam@sixthreezero.com, or call us at (310) 982-2877.

Don't forget, to check out the simple step-through on our website, sixthreezero.com linked in the description below. Also, if you don't know what e-bike you're looking for, take our proprietary body fit quiz on our website. You're going to answer a few questions about your body and your life, and we'll recommend the perfect e-bike for you. We also have a 30-day test ride on your e-bike policy. If you don't love it in the first 30 days, send it back, no questions asked, no money out of your pocket. We'll also warranty everything on the e-bike for the first year. If anything goes wrong in the first year, we'll take care of it so you can continue to ride. Lastly, we have a Facebook group called Sixthreezero Pedalers. There are 1000s of members there. Go in there, and talk to existing members before you purchase. Ask them questions. Then when you have your e-bike, post in the group, make friends, also download our app and track your rides, that's tons of fun. So thanks for sticking around and don't forget, it's your journey or experience. Enjoy the ride.