October 25, 2022 - Rad Power, one of the leading brands in the E-bike industry, recently launched its Black Friday Preview Sales. Prices decreased from $999 to $499, or even $1999 to $1299. And this is the second phase of their price-cutting program, following the $400 discount in September. Fact that such big price cuts are uncommon in the market.
Per sources, Rad Power's selling prices of their E-bikes cannot even cover the costs. But they have no choice, for they are suffering from a severe overstock problem. Per sources, Rad Power's overstock problem emerged about one year ago due to their inaccurate estimation of the sales volume. This batch of bikes has been sitting in the warehouse for more than half a year, with some batches reaching nearly one year.
Generally, lithium batteries begin to age or deactivate after being left unused and stored for more than three months. Storing for more than six months may significantly reduce the battery lifespan and even cause safety problems. The problem is now serious that they have to dump out all the E-bikes regardless the cost, which makes the Black Friday Preview Sale a self-rescue measure.
While consumers are getting huge discounts, Rad Power is also facing a lot of skepticism online, many consumers are also looking forward to how they will respond to the crisis besides cutting prices.
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