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In a sad irony, one time industry leader, Atlas Cycles shut its operations on World Bicycle Day.
While the 3rd of June, was being celebrated the world over as a day for bicycles. Workers of Atlas Cycles were given a rude shock.
The company had been financially tottering for some time now and the lockdown only exacerbated its problems. Eventually forcing one of the oldest Indian bicycle manufacturers to shut down.
Atlas cycles sold bikes and competed at the lowest price point in the country. But falling demand in this segment is a trend of the changing Indian cycling scenario.
Lower income groups, who previously were dependant on bicycles for transportation, have slowly and steadily been switching to motorised two wheelers.
Demand for cycles has been reducing, while some other Indian manufacturers have steadily shifted focus onto premium and electric cycles, Atlas remained relatively stagnant.
The company first started operations in 1951 in Sonepat and were industry pioneers.
In December 2014, the company shut its factory in Madhya Pradesh, following it up with its Sonepat plant in 2018. Their last plant in Ghaziabad was finally shut on the 3rd of June 2020.
Source: HT
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