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Specialized, Giant, and Canyon increase prices

The forecasted price rise on bikes due to the current climate seems to be starting as coronavirus, rising costs and currency fluctuations start to bite

Several major bike brands have increased prices on their 2021 bikes, with Specialized citing difficulties and increased costs within its supply chain – while Giant say price rises on their TCR Advanced range are due to currency fluctuations, increased logistical costs, cornovavirus, and to bring their prices more in line with similar models on their other frame platforms.

For Specialized the move results in a jump in prices of up to 12% and affects both road and mountain bikes, but it seems that not all retailers will be passing the extra costs onto the customer.

Cast your mind back to February of this year when the Coronavirus outbreak was becoming a global pandemic. We reported on early fears that the closure of factories in China and their strict quarantine rules would have huge knock-on consequences for the bike industry.

Added to this is the fact that, in England at least, the first national lockdown saw cycling increase in popularity thanks to a combination of quiet roads, the desire of many to stay off public transport, and some good weather. 

The combination resulted in a boom in bike sales along with bike shops being inundated with bookings for bicycle repairs, and it seems that the consequences of such a high level of demand are starting to be felt.

Specialized and Canyon have begun to increase prices with Canyon upping certain models by up to 10%. It is normal to see price increases in line with yearly inflation, but it is the scale of some of the price increases that are quite surprising and it's worth noting that these price rises aren't restricted to the UK. 

When asked for comment, Specialized UK’s head of marketing, Kirsty Woodcock said:

“We’ve seen incredible growth in the demand for bikes over the last few months. The Covid-19 pandemic has truly sparked the cycling revolution. Whilst this is great for our sport, it has led to some challenges in meeting this increased demand. Our entire supply chain is facing unprecedented difficulties, leading to more complexity and increased costs. We are also investing heavily to increase production and maintain stability. This has led to adjustments to some prices as we set ourselves up to better meet the needs of more riders.”

We first heard reports of the price changes on Friday, when a reader contacted us to say that their local bike shop, with whom they had placed a pre-order for an S-Works Tarmac SL7 frameset, had been informed that the price had risen by £500, from £3,750 to £4,250. The reader was more than slightly annoyed as the pre-order had been placed a while ago and a deposit on the frameset paid.

> How coronavirus is taking its toll on the bike industry and what it means for you

When we asked Specialized for a response on this point, it said that while Specialized UK sets recommended retail prices, they do not determine anything at a store level – so the shop decides the actual price charged.

Under the 2015 Consumer rights act (and the one it replaced) your contract is always with the shop that sells you something, not with the manufacturer. It is also worth remembering that once you've paid for them you've entered into a contract for the goods at that price - whether you've received them or not. 

> Britain's bike shortage: why you should buy your next bike now – a special report

According to the Consumer Rights Act 2015 (Chapter 2, section 5.2(c)), a customer has also entered into a contract with the retailer if “the consumer pays or agrees to pay the price.” 

So if you’ve got money down on a bike that has just become more expensive, then you should only have to pay the price that you were quoted when putting down your deposit. This is only void if the contract stated that the final sale price was subject to change.

While our source’s situation appears to suggest that some retailers have already increased their prices in line with the new RRPs, it seems that Certini, a Specialized Concept store, is currently discounting the newly priced bikes back down to their original levels while Evans Cycles, CycleStore, Tredz, and Rutland Cycles have all increased their prices by varying levels on Specialized's 2021 road bikes. 

Giant says it has around 200 bike lines – including ebikes and its Liv women’s brand – and a spokesman told us that it has increased prices on 12 of these.

The new Giant TCR road bike range was launched back in early April, just after the start of the first UK lockdown, and prices have now increased by £100 on the more affordable models and £200 on the higher level options. Giant claim this brings TCR prices in line with those of equivalently specced bikes on the brand's other frame platforms .

Giant says that these rises are mostly down to currency fluctuations and increased logistics costs at every step along the way over the seven months since the prices were initially set, a period in which the economic consequences of the Coronavirus have been felt worldwide. 

Read our review of the Giant TCR Advanced Pro 1 Disc 

We hear that other brands will increase bike prices soon, but we checked Cannondale, Trek, Boardman, Cube and Merida and at the time of publishing none of these had raised their prices.

Given the times we're living through and the interruptions to both manufacturing and distribution supply chains, price increases are to be expected, and bike brands putting their prices up mid-season – or even just after launch – has been seen before. It happened after the financial crisis in 2008, for example, and rippled through to 2009. 

The COVID 19 pandemic has caused massive disruption to the world economy. For bike companies that has meant interruptions to their supply and distribution chains caused by lock downs and quarantines across the world – initially in China where much of the world’s bikes are made and then across all the markets those bikes are being shipped to in Europe, and North America. During the 2008 financial crash a number of the big bike companies essentially froze production freeing up factory slots for smaller outfits. This time around high levels of global demand mean that is not going to happen. In 2020 bike companies are desperate to get more bikes to market – the problem for them are all the hurdles put in the way as a consequence of the pandemic. Put those two things together and it’s not surprising that prices are going up. 

Specialized prices

The new prices (in bold) are as follows for the road range. We have included the previous prices where we can.


S-Works Founders Edition £13,000 - No price change
S-Works Dura-Ace Di2 £10,750 - £11,750
S-Works SRAM Red eTap £10,750 - £12,000
Pro and Expert models - No change
S-Works Frameset £3,750 - £4,250


S-Works SL7 Red eTap AXS £10,500 - £11,750
S-Works SL7 Dura-Ace Di2 £10,500 - £11,500
SL7 Pro SRAM Force eTap AXS 1x £6,500 - £7,250
SL7 Pro Ultegra Di2 £6,250 - £7,000
SL7 Expert Ultegra Di2 £4,750 - £5,250
SL7 Expert £4,750 - £5,250
SL7 FACT 12r Frameset £3,750 - £4,250


S-Works Sagan Dura-Ace Di2 £11,000 - £11,500
S-Works Red eTap £10,500 - £11,200
Pro Force eTap £6,600 - £7,000
Expert Ultegra Di2 £4,750 - £5,000
Comp £3,500 - £3,700
Sport £2,750 - £2,900
S-Works Frameset £3,700


Sprint Comp Disc £1,999 - £2,200
Elite £1,199 - £1,249
Sport £949 - £999
Allez £725 - £799
Sprint Disc Frameset Sagan - £1,349
Sprint Frameset - £1,349
Sprint Disc Frameset - £1,349

Turbo Creo SL

S-Works £11,000 - £11,500
Expert £7,500
E5 Comp - £4,000

Canyon Prices


CF SL Disc 8 £3,799 - £3,949
CF SL Disc 8 WMN £3,799 - £3949
CF SL Disc 7 £3,399 - £3499
CFR Disc Frame and Brake Kit £4,499 - £4649


CFR Disc Di2  £7149 - £7899
CFR Disc EPS £8499 - same price

Giant Prices


Advanced SL 0 Disc £9,499 - £9,699
Advanced SL 1 Disc £6,799 - £6,999
Advanced Pro 0 Disc £4,599 - £4,799
Advanced Pro 1 Disc £3,599 - £3,799
Advanced Pro 2 Disc £2,999 - £3,199
Advanced Pro 1 £3,299 - £3,499
Advanced 1 Disc £2,299 - £2,399
Advanced 2 Disc £1,999 - £2,099
Advanced 3 Disc £1,799 - £1,899
Advanced 2 £1,699 - £1,799
Advanced SL Disc frameset £2,399 - £2,499
Advanced SL frameset £2,349 - £2,449
Advanced Pro Disc frameset £1,349 - £1,449

If you have noticed any major price rises, please let us know.

Add new comment


Curtis | 3 years ago

Why do bike companies think it's a good idea to price regular folk out of riding bikes?

Sub5orange | 3 years ago
1 like

Expect more price hikes, deal or no deal from January 2021 in the U.K.. 

Chris Hayes | 3 years ago

These price increases track Sterling's gradual weakening against major currencies since the BREXIT vote.  GBP/USD was at 1.49 and is now hovering around the 1.30 mark, meanwhile GBP/EUR has sunk from 1.31 to 1.10.  Consequently the price of many imported goods has risen.  Whether they will continue to rise is a function of Sterling's relative strength against the relevant currency.

I've not looked at it recently, but currency strategists have GBP/EUR at an upper limit of 1.25 and a lower limit of 1.03 on 1.1.2021 - depending on the outcome of the BREXIT negotiations.  I don't see GBP/USD moving too much as we don't really need a trade deal with the US: we're already each other's second largest inward investor - in both cases behind Japan. 

roadrunner23 | 3 years ago
1 like

Some seriously overpriced bikes there. The cost of manufacture is nowhere near a reflection of the price you pay. I reckon we're paying for the CEO's new yacht here!


Nick T | 3 years ago

Tell you what does look like a cracking deal in comparison, Factor O2 or Ostro VAM with Red AXS, either of them currently at £9k OTR with Ceramic Speed giblets and all the other trinkets 

Secret_squirrel replied to Nick T | 3 years ago

I'm not convinced any bike over say 5k (maybe less) can be considered "a cracking deal".

Nick T replied to Secret_squirrel | 3 years ago

"In comparison" ie you are getting a bike that's raced on the same world stage right now, with the same groupset, for 3 grand less than the specialized (both Red Etap)

Chris Hayes | 3 years ago
1 like

Just buy a Merida...that's what you're getting anyway  1

Wilfried Schade... | 3 years ago

It must be a bad joke i ordered my bikes 7 and 4 months ago. Specialized can't deliver in acceptable timeframe.  Both SWORKS Tarmarc and SWORKS Diverge are expected in January and now they tell afterwards th price has increased by 10% !  

Nick T replied to Wilfried Schadenboeck | 3 years ago

Surely if you've ordered and placed a deposit, the quoted price at time of order should be honoured 

Wilfried Schade... replied to Nick T | 3 years ago

Thats what i need to sort out with my dealer.  But for dealers as far as i understood the price change is with 1st of November onwards for delivery  and not the price at time when i ordered .  Nevertheless the bike manufactors piss off end customer or their dealers with this move.  Both is not okay, only because they can't get enough  2  

peted76 replied to Wilfried Schadenboeck | 3 years ago

Wilfried Schadenboeck wrote:

It must be a bad joke i ordered my bikes 7 and 4 months ago. Specialized can't deliver in acceptable timeframe.  Both SWORKS Tarmarc and SWORKS Diverge are expected in January and now they tell afterwards th price has increased by 10% !  

My dude, you placed a two bike £20,000 bike order with a dealer in July and they can't deliver until January... literally.. the world is your oyster! 

Wilfried Schade... replied to peted76 | 3 years ago

First world problems  1 

pablo | 3 years ago

Feels a little like these manufacturers are setting themselves up for a fall at some point the current level of demand isn't sustainable based on the nearly new ridden twice bikes that keep on popping up in my Facebook feed.
They are making investment in plant and people with no idea what future sales are going to be and making new customers pay for it. By all means increase production but if your so sure of future production why make your customers fund it? You should be able to fund that expansion with your current lenders/investors.

tony.westclassi... | 3 years ago

Who gives a toss, who needs a new bike this time of year, if you havent got whats needed by now, you,l never be, or, ripe for ripping off.

Nick T | 3 years ago

Reckon I part exchange a 2018 Speed Triple RS towards an S Works?

TheBillder replied to Nick T | 3 years ago
1 like

No one wants triples this year, if you had Triumph Speed 1x then they'd bite your hand off.

Nick T replied to TheBillder | 3 years ago

That S Works Aethos really does now make a Ducati Monster 1200 look like cracking value tbh

SNS1938 | 3 years ago

The pound has been all over the place the past year. Have the prices also increased in the US? As it could just be the pound falling or the $US rising.

zedbedboy | 3 years ago

I've worked in manufacturing for 30 years. Increased volume never pushes costs higher in the manufacturing or distribution parts of the supply chain. This is totally about extracting the maximum revenue from a market where there is currently high demand. Buyer beware - are you really getting value for money?

cyclefaster | 3 years ago
1 like

Hmm...I wonder if the costs will come back down again when they sort out these issues?

Bike prices are getting a bit silly these days especially when there is very little difference year on year.

Yorky-M | 3 years ago

Form what I understand factories can cope with 130% of predicted sales with existing supply chains and production facility. Cv19 has produced a global increase in demand for bicycles with an estimated shortfall of another 20%. So for Giant or Specialized that means investing tens of millions in new factories as ALL existing (Giant owned or Specialized contracted) are at capacity. If this is just a bubble and the demand returns as expected in 2022 to 2020 levels, the 10 years to balance the investment in the factory is not worth it.

Specialized are not run by bikers, they are run by golf playing exc with a fully understandable eye on shareholder returns for their bonus. It is just business. We many get passionate and outraged by the increased cost, but if you want a new ultegra TCR next year it WILL just cost you  £400 more

Bryin | 3 years ago

Demand has went up...   so prices go up...  it is Econ 101.  But the price increase has made it even MORE stupid to buy one of these grossly over priced, over marketed, disposable bikes.  For the price of many of the bike detailed you could easily (and in many cases evern save money) buy a FULL CUSTOM steel or titanium bike.  The custom bike will fit better, hence it will be more comfortable and more fun to ride.  The custom bike will be more durable and less likely to need to be replaced so over the long run it will save you money.  High end production road bikes have reached the height of insanity. 

Jem PT | 3 years ago

Looks to me like they are just cashing in on the excess demand v supply (have you seen how much over list some people are charging for Bromptons?) or is it just a re-phrase of 'Brexit benefit'?  

wycombewheeler replied to Jem PT | 3 years ago

I don't think it is a brexit thing, not enough of the supply chain is based in the UK.

Probably down to supply/demand in the supply chain with so many different carbon frames coming out of the same factories in China/Taiwan or all bikes using the same components and demand exceeding capacity leading to suppliers raising production costs.

Alternatively it could be down to an adjustment of the £/$ or £/euro exchange rate assumed when setting list prices.

It would be interesting to know if suppliers were increasing prices in all countries or just the UK

riggbeck replied to wycombewheeler | 3 years ago

Is the price increase global? - Good question.

It could be a Brexit thing, I know some distrubutors are already factoring in potential changes in duty with higher RRPs so if it is on WTO terms in the new year they do not lose out on stuff already ordered and shipping in the new year.

The bigger companies pre buy trading currency well in advance, this prevents currency related mid season price hikes.

Also, the fact that this is on alloy and carbon frames hints that its more than just production costs, there is a company wide influence as well.

Some US brands are also hiking prices to have a global price that means the EU dealers can't undercut the US dealers after adding the various trump taxes.


Tony Farrelly replied to Jem PT | 3 years ago

Don't think it's Brexit related, we've heard from users in Europe about Canyon raising its prices there too - although I guess the rate of rise is to some extent going to depend on how your particular currency is performing against the dollar and how much that has changed since the bike brand you want to buy from last hedged against the dollar. 

crazy-legs replied to Tony Farrelly | 3 years ago

Some of it is Brexit. Bike companies are preparing for a 14% tariff on bikes as of 1st January.

No-one, wrote that on the side of a bus...

Rich_cb replied to crazy-legs | 3 years ago

For bikes manufactured in the EU assuming we don't get a deal there will be a new tariff.

For bikes manufactured outside the EU (the vast vast majority) the tariffs will be lower or the same as currently.

A possible excuse for Canyon but not really relevant for Specialized or Giant.

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