Slowdown in cycle industry decried

The members of the United Cycles Parts and Manufacturers Association on Friday held a meeting to discuss the slow-down in bicycle sales because of the fall in steel prices. The manufacturers have already reduced the prices of bicycle by about Rs 30 besides giving some offers to woo the customers.

Charanjit Singh Vishvkarma, president of the association, urged the secondary producers of steel to fix the prices of raw material because they are not able to determine the exact cost of finished product this way and hence the clients are not picking the stocks.

He said, 8220;Clients are apprehending that prices of bicycle may fall further and hence they are not picking orders.8221;