• This topic has 12 replies, 10 voices, and was last updated 7 years ago by andyl.
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  • Buying a Canyon or YT????
  • mancian
    Free Member

    I was going to be ordering a YT or Canyon early next year.

    Have I now been screwed over? Will they be more expensive now?

    Genuine question.

    Cheers

    oldnpastit
    Full Member

    Yes, and yes.

    nickc
    Full Member

    yes it will be more expensive. I wouldn’t buy one just yet. Once the dust has settle the pound will recover, but where that levels our will be anyone’s guess TBH

    kimbers
    Full Member

    the euro will be tanking too, depends does our trade deficit affect it too!

    wiggles
    Free Member

    It will be more expensive and you’ll have to pay import taxes

    zero-cool
    Free Member

    It takes at least 2 years to leave the EU so while the crap Pound will put the prices up you’ll not have to worry about import taxes for a while.

    markshires
    Free Member

    Will this eventually make Orange the new YT’s/Canyon?

    thisisnotaspoon
    Free Member

    Will this eventually make Orange the new YT’s/Canyon?

    Depends how the new trade agreements look in the long term.

    Canyon at the end of the day are a Taiwanese bike manufacturer, if we slapped a 20% import duty on imports from Germany, they’d just set up a UK distributor and ship them in directly. Less efficient and more expensive, but not such a big deal.

    That said, we now have to go and negotiate a trade deal with Taiwan, or slap an import duty on their goods to try and replace the domestic manufacturing we’re about to lose to the EU.

    andyl
    Free Member

    Most of the parts that make up a typical bike are not made in the EU anyway so subject to import.

    The £ and the Euro will drop because of this so the cost will go up.

    Aside from cost I can also see things like warranty and service being affected long term. It’s currently a faff due to customs charges to warranty anything outside the EU.

    mancian
    Free Member

    So will bikes go up in cost in general then?

    For example a Nukeproof Mega?

    andyl
    Free Member

    purely depends on how the £ does long term. Too early to say.

    Bike bought from Europe will most likely be subject to import duties though, like if you buy from the USA.

    MSP
    Full Member

    The frames are made in Taiwan, parts come from all over the place, but they are assembled in Germany.

    andyl
    Free Member

    but the import duty is based on the completed value. Canyon pay very small EU import charges on the frames. Everytime profit is added then the duty and taxes to the next person in the chain increase.

    eg if a frame costs them 100 euros to have made and sent over then they pay the duty and tax on 100 euro. If that framset is then sold for 500 euros then we would have to pay the duty on the additional 400 euros. We already have to pay the VAT on the 400 euros (on top of the 100 euros and the 100 euro import – ie all costs up to that point) but that would be at the German 19% rate due to the way it’s set up.

    If you buy from a US manufacturer then they pay the US import and tax when they import from Taiwan. Then we pay the UK government import and VAT as well as the handling fee that most people complain about when buying from the USA etc.

Viewing 13 posts - 1 through 13 (of 13 total)

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