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Daniel Ostanek

FORGOTTEN HISTORY: Giant reports 49 fall in profits amid weak demand - Caught on Camera

Giant Merida Europe United States Moore Large Taiwan
Giant bicycles has reported a slump in sales in 2023.

Giant, the Taiwanese bike manufacturer has reported a slump in profits amid "weak demand" from European and US markets.

The company, which is the world's largest bike manufacturer, reported a pre-tax profit of £38.1million ($47.8million) for the third quarter of 2023, which marks a fall of 49% compared to the same period last year.

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