As a no-deal Brexit becomes more likely, it appears that the price of cycling could also see an increase if a deal is not put in place.

Brompton Bicycles, the foldable bike manufacturer, has already confirmed that they have stockpiled £1million worth of parts including wheel rims, spokes and steel as fears grow within the industry of a hard Brexit.

The companies main concern would be the importing of such goods, with no agreement from the EU, problems may began at the ports.

Will Butler-Adams, Brompton’s Chief Executive told The Guardian, “Taking storage [has cost us] £50,000 but the implications of running out [of parts] could be £50,000 in a few days]

Other British Manufacturers who rely heavily on imported stock have also taken up similar measures in recent months, such as Bentley and Tesco’s.

The problem of cost arises from the way dealings are usually made within the world of bicycle manufacturers.

Most trades are made using the US dollar as currency, the main reason being because the majority of bike parts are made in Taiwan and the Far East.

Even in the European market the dollar reigns supreme but the dollars that the industry was spending before the Brexit vote are very different now against the declining worth of the pound.

Companies are still having to buy dollars to trade with accept at a much higher rate.

James Backhouse marketing director for Evans Cycles told Cyclist.co.uk, ‘the extra cost to distributors will in most cases continue to be passed on to retailers’.

As the delayed Brexit deal continues to be debated on, cyclists and manufacturers are left worried about prices they may soon face.

Article By Jack Sanders