[Updated] Revenue Round Up: Shimano Breaks Sales Records & More from Q4 Reports

Feb 20, 2023 at 9:09
by Ed Spratt  
Following the boom across the cycling industry over the past few years the industry is slowing down with demand falling along with revenues although not every piece of news is negative. Let's get into all the key details from brand's recent Q4 revenue reports.

We will update this article as more Q4 reports are released.


Fox Float X and DHX 2022

Fox has also seen big increases as Q4 saw rises of 19.4% as sales reached $408.6 million from the $342.3 million achieved at the same time last year.

Although Fox saw a big sales increase, this was mostly thanks to the Powered Vehicles Group sales as it saw a huge 38.5% increase in Q4. The Specialty Sports Group sales that includes the brand's bicycle products saw a 1.9% decrease of sale in Q4. Fox does not seem worried about this as it states the drop was "driven by return to seasonality."

bigquotesAs we enter 2023, we are aware that the global economy will continue to experience some challenges under the weight of inflationary pressures and tightening monetary conditions. As we navigate these challenges we will continue to fine-tune our product lines, while exploring investments to ensure our future success. Our achievements in 2022 provide us with confidence in our ability to execute our tactical objectives as well as deliver on our long term strategic vision. Mike Dennison, FOX’s Chief Executive Officer

The overall results for the year saw sale increase by 23.4% as it rose from $1,299.1 million in the 2021 fiscal year to $1,602.5 million. Sales in the Specialty Sports Group rose by 17.6% over the past 12 months compared to the previous fiscal year period.


Garmin has reported a 6% year-over-year decrease in revenue in its recent Q4 report.

The company also noted a 2% drop in revenue for 2022 as its fitness products division suffered the largest decline of all of Garmin's divisions. The fitness products division noted a 28% year-over-year decline for the quarter with revenue dropping from $470 million to $337 million. Across the past year revenue in the fitness products division dropped from $1.53 billion to $1.10 billion.

bigquotesOur performance in 2022 was solid even as we faced increasing headwinds affecting the business environment and consumer behaviors.

We are entering 2023 with a strong product lineup, and many more product launches are planned throughout the year. I am very proud of what we accomplished in 2022 and look forward to the opportunities and challenges ahead.
Cliff Pemble, president and CEO

While net income was down 9% for the year the Q4 results saw a year-over-year increase of 2%.


autonomous forklift picking up finished parts

Shimano's bicycle division is bucking trends as it breaks more records as sales reach 517.4 million yen ($3.885 billion), a 16.6% from the previous year.

The company said: “Although the strong interest in bicycles during the COVID-19 pandemic showed signs of cooling down, demand for bicycles remained above the pre-COVID-19 levels. In terms of market inventories of completed bicycles, those of high-end class bicycles remained at a low level. Meanwhile, inventory levels of middle-class bicycles rose, following those of entry-class bicycles."

While sales are up growth has slowed from the boom of 2021 where the division saw an increase of 44% from the previous year. Operating income for the bike division of Shimano is also up from the previous year at 144,994 million yen.

Shimano has stated that North American market inventories “remained higher than appropriate levels due to the supply adjustment of completed bicycles.”


Thule Velospace

The Thule Group has announced in its Q4 report that net sales for the quarter have declined by 10.6% year-over-year.

CEO of the Thule Group Magnus Welander is blaming recent performances on reduced demand for bike products from retailers who lowered inventory following large preseason orders.

The Q4 reports details net sales at SEK 1,651 million ($157.9 million) a drop from the SEK 1,846 million last year. Overall net sales were lowered by 2.4% at SEK 10,138 million, this is down from SEK 10,386 million. 41% of sales over the past year were from bike products.

Magnus Welander said: "It is worth noting that the pandemic year of 2021 was an exceptionally strong year in the bike industry in general, and that we also captured market shares in 2021 as a result of our competitors having more significant issues with meeting the demand increase."


MIPS headquarters

Mips has observed a 50% drop in helmet sales leading to Mips' net sales falling by 46% year-over-year.

Net sales for Q4 reached SEK 107 million, a significant drop from the SEK 198 million reported this time last year. Across the full year, net sales were down to SEK 563 million, instead of the SEK 608 million reported for the previous year.

Max Strandwitz, the CEO, said: "The fourth quarter closes a different, challenging but also successful year.

"A drastic slowdown in the bike sector in the second half of the year had a substantial negative impact on sales in Sport, our largest category. While we had to deal with the short-term challenging market for our largest category, we have taken big steps for the future through several initiatives and successes within other categories. We have also continued to strengthen our brand position, product portfolio and organization."


GoPro has reported a drop in revenue in Q4 of 18% year-over-year.

In its latest earnings report, GoPro has revealed that in the quarter ending Dec 31 the company saw revenue hit $321 million, the same quarter last year surpassed this at $391 million. For the year as a whole revenue reached $1.09 billion a drop from the 2021 total of $1.16 billion. Net income dropped significantly by 94% year-over-year to $3 million compared to $52.6 million previously.

GoPro's chief financial officer, Brian McGee, said: "GoPro ended the year with solid balance sheet metrics and $367 million in cash after repaying debt of $125 million and repurchasing $40 million in stock."


  • 139 3
 crazy stupid bike prices also had the consumer saying "Buy a new bike? ....ummm nope...guess I'll just upgrade components on the one I have."
  • 21 229
flag justanotherusername (Feb 20, 2023 at 9:26) (Below Threshold)
 Have you stopped buying the burger buns for your burgers because of 'crazy stupid prices too, just the meat now eh?
  • 108 3
 @justanotherusername: Hmm...let's see...buns are $1.25...Meat is like $4 a lb....whereas new bikes are $6k and components are $100-300...Am I missing something?
  • 49 1
 @justanotherusername: not that your comparison is even remotely accurate but you seemed to have mixed up your own words. Clearly the buns would be parts and the meat would be complete bikes... So what you should have ended up with was "just the buns now eh?"
  • 6 1
 You say that but Shimano has always prioritised manufacturers above end consumers, if they're selling more than normal there is a good chance they're selling more to bike brands.....
  • 10 63
flag justanotherusername (Feb 20, 2023 at 14:02) (Below Threshold)
 @scallywagg: hey, my examples equally as stupid as the usual pb nonsense that bikes should somehow be immune to inflation.
  • 4 2
 Seeing and hearing that scenario play out on a near daily basis recently. More often than not Berd has hit the biggest sweet spot for riders looking for a transformative component change.
  • 4 1
 Exactly. Time for a new bike. How much? 8500? Spent $2500 with some clever shopping and I couldn't be happier with the results.
  • 1 12
flag naptime (Feb 20, 2023 at 20:06) (Below Threshold)
 @justanotherusername: yep exactly that but, not cos the cost of bread.. because carbs.. ewww....
  • 14 0
 And the last quote I got for a suspension service made me think I should just buy a new bike Razz
  • 6 0
 @netracer-enduro: True. Bike brands forecast big numbers for last year and Shimano delivered to them as fast as they can produce. Now bike brands are sitting on massive amounts of unsold stock and are going to be scrambling to reduce their ordering commitments.

Shimano are still subject to the same market effects as everyone else, just one step removed.
  • 3 0
 @justanotherusername: if, because of inflation, you have to choose between buying groceries and buying a new bike, for most, that's an easy choice
  • 10 3
 @justanotherusername: what are you??? 12? let the grownup talk .
  • 4 0
 @scallywagg: The hamburger is the complete bike, the meat is the frame, the buns are the suspension (or wheels), and the condiments are the swappable components.
  • 6 0
 @mi-bike: pickled cabbage can be purple parts......
  • 2 0
 @wingguy: 1 step removed and 6 months aprox later.
  • 1 0
 or maybe shimano just uses different accounting standards. i.e. shimano recognizes revenue later than thule and go pro
  • 1 0
 @justanotherusername: I've moved on to hamburger sandwiches, and use sandwich loaf. The family was sceptical at first, but is now on board. The meat is non negotiable.
  • 1 0
 @netracer-enduro: what’s happened is that the bike industry has assumed that the uptake on bike sales through international lockdowns and countries have kept folk indoors (locked down social locations but still allowed exercise outside).
They have seen huge uptake from new riders to the sport as well as others upgrading (not travelling to work, being furloughed and minimal output financially and loads of time on their hands) to ride 5 days a week.

Covid ceased to exist once there was a different global potential apocalypse for the media to jump in on and the world went back to normal.
The industry assumed that that new yearly unit sales statistic was the new normal and -boom! The near global recession is on us after countries paid for everything and earned nothing in taxes in return.

This here is the final completion of the back orders from brands to component companies for what would be the perceived new norm’. Brands will be scaling back as they’ve so much surplus units that they can’t shift (hence all the 30-40% off bikes in the shops already!).
  • 2 0
 @naptime: the carbs are alright, bro.
  • 1 1
 @SoddenDeath: Must Consume ALL THE PROTIENS (faarrrrrrrt)
Nah tho, I save my carb allowance for beer.
  • 81 3
 The problem with Shimano profits is that every time you pull the lever the number is different.
  • 5 1
 The armed bandit of braking
  • 18 0
 @Tom00Harrison Wandering Dow point
  • 3 0
 Yeah, their numbers seem to shifter a lot...
  • 8 0
 that took me a second... kinda like trying to find that bite point, but eventually I got it.
  • 1 0
 @caltife: caused by Hayes Sub Prime mortgages?
  • 1 0
 Some companies are just better at shifting gear ahead of time when things takes a sudden downward turn.
  • 56 0
 500 million yen does not equal 3.8 billion dollars
  • 50 0
 Yep. Pinkbike editors: Million, billion, potato, pohtahto,
  • 20 0
 Bro math - it evolved from a generation of Common Core enthusiasts.
  • 9 0
 They meant million thousand yen, because million thousand is the best prefix. Duh!
  • 26 0
 Some are doing meth instead of math
  • 20 95
flag likeittacky (Feb 20, 2023 at 13:47) (Below Threshold)
 It is with Biden. "I've got two words- Made In America" LMAO!
  • 21 102
flag likeittacky (Feb 20, 2023 at 14:21) (Below Threshold)
 @cmi85: Poor baby. It offends you because yourself and others can't handle the facts that he is an imbecile and a puppet. LOL! But Oh No when the tables are turned after years of slandering Trump.
  • 71 29
 @likeittacky: It's impossible to slander Donald Dump. Slander means saying bad things that aren't true, but all the bad things you could possibly imagine are true about that sick creature.
  • 11 78
flag likeittacky (Feb 20, 2023 at 14:34) (Below Threshold)
 @barp: Hahahaha Oh yea mean Tweets BOOHOO LOL. Don't think i would expect any different from the typical PBer
  • 11 54
flag likeittacky (Feb 20, 2023 at 14:45) (Below Threshold)
 @barp: You are from Portland
  • 10 3
 @likeittacky: I see you've edited since your original and equally intelligent reply that said only "proof"
  • 10 3
 @likeittacky: Vague ad hominem is all you've got at this point, huh?
  • 9 43
flag likeittacky (Feb 20, 2023 at 14:54) (Below Threshold)
 @barp: go ride your bike
  • 2 0
 @ak-77: That's the kind of math that allowed outside to get where it is today!
  • 1 0
 @ak-77: More like, "potato, tomato."
  • 7 0

It’s all he’s had the whole time…
  • 1 0
 @noapathy: We now have Common Core Manufacturing. It's the chasm between Industry 3.0 and Industry 4.0
  • 4 27
flag 541freeride (Feb 20, 2023 at 21:31) (Below Threshold)
 @likeittacky: I feel for you man. Sucks to see our favorite bike website taken over by a bunch of trump loving cry babies. Not enough bike riding going on and too many people trying to find a new thing to be offended about.
  • 1 0
 That's alot of fcking yens
  • 1 2
 @HughBonero: yeah the Yen is silly. I went there back in 2017 and one Yen was like 1/100th of a US penny.
A penny!
  • 3 0
 Companies that report in yen typically report in "millions of yen" so the number is proboably 514,700 million yen or 514.7 TRILLION yen which is 3.8B US
Not sure where that figure comes from, likely the Bicycle component from these financial statements:

PSA: don't get your financial news from a biking website.
  • 3 0
 @cmi85: yeah, no it wasn’t.

1/100 dollars (ish) yes.
1/100 penny? No.
  • 1 1
 @mtallman2: What am I doing wrong then? Today's USD-YEN exchange rate is 1JPY = $.0074USD.
So should I have said 7/100ths of a penny then?
  • 1 0
 @mtallman2: He must've been thinking of Sen: en.wikipedia.org/wiki/1_sen_coin
  • 4 0
 @cmi85: 0.0074 dollars is 0.74 cents, or approximately 7/10 cent. But in 2017 the yen was worth closer to 1 cent or 1/100 dollar.
  • 3 0
 @barp: got it, so one Yen is 74% of a single penny. It was tricky in Japan because they always advertised the Yen price which seemed silly, you weren't ever paying for anything that wasn't in the hundreds or thousands of Yen.
Could you imagine if everything was marketed here in pennies? New bikes are 900,000 pennies? That car is 0% for 72 months at 5,400,000 pennies with 25,000 pennies factory cash?
  • 2 0
 Article updated. Bad math not corrected. Come on @edspratt
  • 40 0
 I feel like I have only ever read about GoPro seeing drops in revenue since their initial boom.
  • 116 1
 If most people are like me, they thought that getting a GoPro would be cool but have only used it 2 times in 8 years.
  • 24 1
 @AndrewFleming: yep got the 2nd edition years ago and sold it after use it a few times. People think they will get footage like pros(especially surfing) and once you watch it, it looks like shit.
  • 14 0
 @AndrewFleming: I mean, seems to line up with how often the batteries in a GoPro actually work
  • 23 0
 @mtnfox37: I got a DJI Action 3 and the batteries over the winter have been great, not died once. AND it still gives me that classic lame footage that I've come to love from GoPro.
  • 46 0
 @AndrewFleming: The last time I used mine was many years ago. Time lapse in the garden to see where the groundhog was coming from.
  • 2 0
 @AndrewFleming: hahaha facts. I try to use mine but it loses luster quickly. Just use your phone for the IG reelzzz
  • 2 1
 ...Peak POV youtube footage threshold exceeded
  • 2 0

SAME HERE... Needed to prove that it was chipmunks, not rats living under the garden shed or the wife would make be tear the whole thing down. I said it was chipmunks! Wink
  • 1 0
 @MisterChow: I'm disappointed you don't have Canadian term for a groundhog other than groundhog.
  • 4 0
 @itslightoutandawaywego: You call it Groundhog Day.
Canadians call it Groundhog, eh?
  • 4 0
 @itslightoutandawaywego: haha. dirtpig? dustswine?
  • 3 0
 @itslightoutandawaywego: Tailless Land Beaver?
  • 2 0
 The Insta 360 Go is really eating GoPro's lunch. More and more videos I see riders with those light little white cameras on their helmets. Remember when it was 100% GoPro? It's crazy they seem to be ignoring the market of people that put these things on their heads (mtb, moto, etc.) and refuse to make a light camera like the Insta 360 Go. The new GoPro Mini is the icing on the cake that GoPro really seems to not get it.
  • 4 1
 @gravitybass: You can tell someone really wants the worst footage if they put their camera on their head.
  • 3 0
 I took a class in college where everyone did a case study on them - they're really just a camera brand (like nikon, canon, with a fraction of the product assortment) trying to market and sell their cameras to average consumers like they're iphones. complete disconnect
  • 25 0
 Seeing sales on bikes that never go on sale. Specialized and yeti at 20% off current models was unheard of in the past. Talking to a local shop they were basically willing to sell at cost or even slight loss to get rid of some models that had been sitting on the floor.
  • 41 0
 You're still paying what would have been MSRP pre-Covid. 20% is not bad but it's not a steal either.
  • 12 0
 Specialized are running some big discounts, YT just announced 25% off their bikes, then a few days later Canyon announced 30% off. Crunch time!
  • 2 2
 Never really saw Yeti on sale, but I remember seeing a good few Specialized bikes on sale up to 40% off directly on their site during their Fall sales. I remember looking at clearance Stumpy's in 2018 there. Had a sweet Ohlins edition Stevo for like 3800 bucks. Kinda wish I would have pulled the trigger too..
  • 6 0
 @CleanZine: By "crunch time" are we talking about broken carbon?
  • 6 0
 Get them while they exist, they have inventory left over from busier times, once it’s gone they will tighten up on stock levels and we will be back to YTs etc selling out in days for RRP.
  • 1 0
 Weve been discussing this for about a year now. No need to go buy a bike anytime soon with all the covid inventory sitting...just gna have to keep clearing them out.
  • 1 1
 Compound that with high inflation with evermore govt spending; ongoing war with russia and china; major layoffs-folks will be holding off on purchases of toys.
  • 2 0
 @jrocksdh: There are huge amounts of ‘lower end’ inventory to clear but don’t go thinking that’s the same with the higher end stuff.

If you want the discount bike, get it - once the discount stuff is sold it’s back to post covid RRP.
  • 1 0
 @CleanZine: @CleanZine: That doesn't necessarily mean it's crunch time, you get it in cars, motorbikes etc... They build a new model, so the outgoing models get discounted to shift them. That's how i buy my MTBs, e.g I bought a RM Slayer which was ex-display 2020 model, i got it for £3000 instead of £5500. That doesn't mean RM are in trouble, just that they need to shift some older kit.
  • 2 0
 @weeksy59: Ordinarily that would be the case, but from the reports of layoffs across the industry, excess inventory everywhere, companies making losses in 2022/predicting losses in 2023 it sounds a bit more urgent than simply clearing "old" stock. Especially so as for some brands it's a blanket "X% off" all their bikes rather than a more targeted effort.

We'll see though. They're all making enough that I don't think the big brands are going anywhere any time soon, although I suspect things may be a little uncomfortable for them at the moment.
  • 1 1
 @CleanZine: and yet the 2019 Capra is still a better deal then these new bikes .
  • 1 1
 Wake me when I can buy a base Capra for less then 2k
  • 4 0
 @Henary: Did you miss the last few years of inflation, do you live in isolation from reality? Are other products you buy in life the same price as they were in 2019?

If you want waking up when a base Capra is less than 2k you will sleep eternally.
  • 1 0
 @Henary: you can get a core 2 for like 2300 right now. close enough. WAKE UP
  • 1 0
 @justanotherusername: you may be correct...in sure industry has scaled back inventory moving forward/forecasting slower sales.
We'll see what the consumer does but most are just keeping their 2+ year old bikes and waiting to see how this recession develops.
  • 20 1
 MIPS is a patent licensing company, they don't produce anything.
  • 11 0
 Oh but they do! Lawsuits…
  • 13 1
 When I was seventeen,
I drank some very good beer,
I drank some very good beer
I purchased with a fake ID.
My name was Brian McGee,
I stayed up listenin' to Queen
When I was seventeen.

Look what's happened to Brian now eh?
  • 10 1
 That's kinda funny that they're only reporting on Shimano's increases. They project a 20% decrease in sales for 2023 so far. lol
  • 17 8
 If I remember correctly, Shimano didn't really expand their manufacturing during Covid to cope with increased demand. Smart Move.
  • 8 3
 @noapathy: That was planned before Covid, so the Covid bubble still wont effect their long-term plans.
  • 6 4
 @Jamminator: So I take it you didn't read the first sentence of the article? Here, let's quote it for you..."Shimano has invested $179 million (20 billion yen) in a new plant in Singapore and $118 million (13 billion yen) in its existing Japanese facilities that will help it meet the increased demand for cycling parts brought on by the pandemic, Bicycle Retailer reports, citing asia.nikkei."
  • 2 0
 The Shimano increase is the glut coming to fruition due to manufacturers having to place orders 900 days out. I'll bet an old set of rotors that their bike sales see negative growth a year from now.
  • 7 1
 @noapathy: Wrong.

"Shimano's president, Taizo Shimano, told it that the company is building a facility in the Jurong Innovation District on the west side of Singapore, where an existing plant is also located. The new plant will produce high-end drivetrain parts, the site reports, and is being positioned as a "factory of the future." It was supposed to open last year but was delayed due to COVID."

Read that last sentence very closely. It was on the BRAIN article last year.
  • 1 6
flag noapathy (Feb 21, 2023 at 17:00) (Below Threshold)
 @Jamminator: Maybe, maybe not...depends on what was discussed that we may never know why they went forward with it when they did, but what about the other two investments you skipped over?

"Shimano is also investing another $118 million (13 billion yen) in its two Japanese factories in Osaka and Yamaguchi. These investments will go towards new machinery and software that will reportedly allow it to increase capacity by 1.5 times by the end of the year compared to 2019."

  • 5 1
 @noapathy: Get over it, you were wrong. These were planed before COVID per Shimano President, and in fact COVID is why why they were delayed. It's not a response to the bubble.
  • 1 6
flag noapathy (Feb 22, 2023 at 7:50) (Below Threshold)
 @Jamminator: Of course they were...LMAO /s
  • 4 0
 You forgot the most interesting news about Shimano: Shimano forecasts 21% sales drop in 2023.
  • 3 0
 What the hell is Shimano talking about with the "Inventories being higher than appropriate," in North America? I'm still having a pain in the ass time finding replacement wear items like cassettes and brake pads. Shimano chain rings (for road/gravel) were hard to find in the before-times, it was easier and cheaper to buy a whole new crankset on sale - Now even that is out of reach.
  • 5 0
 I suspect Shimano gained from a weak Yen against USD. Only suspicion, didn't look into their financials to back it up.
  • 2 0
 Yeah, PB should report "Constant currencies" too
  • 4 0
 Is that why Shimano sells out as soon as it hits the shelves? I want to switch from SRAM but it’s never in stock anywhere.
  • 3 3
 Shimano sells out because most of the budget brand bikes come equipped with Shimano. Its almost like saying Kleenex.
  • 2 4
 @enduroelite: Shimano is specced on the lowest non mtb bike brands. Everything low end mtb is going to be Sram SX, as its the product Sram designed to be as cheap as possible to sell to manufactures for super cheap, and force people into the SRAM ecosystem.
  • 1 2
 @8a71b4: did you even need to respond?
  • 5 0
 MIPS "net sales were down to SEK 563 million".
Not bad for snake oil.
  • 1 0
 " We HAVE to charge this price, to stay in business,.... the "pandemic" has upset the supply chains for years to come,...we're BARELY holding on..."
Big Bike Industry
  • 5 2
 Haha I'm calling BS on Shimanos, growth unless they're including fishing components into it
  • 3 0
 So you're saying something smells fishy?
  • 2 0
 Lots of E Bike motors
  • 17 12
 Shimano > SRAM
  • 8 3
 Seriously... There is absolutely no point keeping this childish pseudo non sense war as shimano is better.
  • 2 0
 @quartermanz : Correction: Shimano >>> SRAM Big Grin
  • 4 0
 I saw 'Shimano Breaks....' and had my Spelling Police cap halfway on......
  • 2 0
 All those extra shimano parts flying out the factory and I cant source a lever blade from anywhere apart from overseas, ended up unnecessarly buying the whole lever.
  • 1 0
 Same here.
  • 1 0
 shimano newly released road groupsets are now obscenely expensive, wonder if the growth just born from massively higher prices, durace is probably double what the last one was.
  • 1 0
 And even after going in the red for the year in revenue, Go Pro stayed in the green with what's that...... mmm the classic stock buyback maneuver. When will the stock value based bonuses end
  • 2 0
 Can we expect sales of Shimano parts this season? Haven’t seen any signs of that happening in Canada so far this year.
  • 1 2
 Now, if Shimano would lift their contract and go back to pre-2018 when web retailers can ship Shimano OEM parts to anywhere in the world from Europe or from wherever the lowest prices originated, they would've had probably 1000x the profit rather than just a 16.6% increase.
  • 1 1
 All that money and yet, Fox can't make a shock that survives 3 rides, and Shimano can't make a brake that works all the time without flimsy levers and wandering bite point ...
  • 3 0
 Linkglide is dope!
  • 1 0
 Really want to try it on my fat bike, anything I can do to make that drivetrain tougher is interesting.
  • 1 3
 Hmm Shimano up (for the year) but others down. Makes me wonder how much of it is "cycling" as aposed to actuall MTB sales
As well, bike components up but roof racks down... makes me wonder if that means more commuters an delivery riders but less high level cycling be it road or MTB....
  • 1 0
 I'm sure the cops, especially in North America, had quotas to meet. Wink
  • 1 0
 Are the numbers mixed up under shimano? Yen isn’t as strong as USD, so the USD number should be about 3,841,984.
  • 1 0
 No matter what frame material, size of wheels Or intended use every bike needs some brakes tup
  • 1 0
 Shimano piece should say "Shimano breaks sales record because they finally made stuff available after 3 years".
  • 1 0
 I just want to buy some SLX brake levers FFS. Make them shimano you slack pricks.
  • 2 0
  • 2 3
 Shimano sitting back laughing at the fact the saint has not been upgraded in 10 years but people are still dumb enough to buy it and pay even more for it.
  • 2 1
 This must be that "recession" everyone is predicting. LMAO
  • 1 0
  • 1 1
 Shimano still making profits even with all the failing EP8s ,
  • 2 3
 Shame on big bike for big profits!
  • 4 5
 I wouldnt buy another bike with shimano stuff.
  • 2 0
 Really? curious what spec you had and why
  • 1 1
 @two-plank: slx and microspline. microspline has a design fault.
  • 2 0
 @Grimtim2020: What fault is that? I've had no problems.
  • 1 1
 @barp: Microspline smallest cog is undersupported and flexes the aluminium lockring until it comes lose. I lost my rear mech for that.
  • 1 0
 @Grimtim2020: Bummer! I haven't heard of that issue. Any chance the lockring wasn't fully torqued to spec (30 - 50 Nm)?
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