Rad Power Bikes, one of the leading electric bicycle companies in the US, has just slashed prices on all of its e-bikes.

The company made the announcement today, effectively ushering in many of the best holiday sales from late last year as new permanent pricing for 2024.

“We’re lowering 2024 prices across our lineup of award-winning electric bikes,” explained the brand in an email. “From day one, our mission has been to create radical electric bikes that are built for everything, and priced for everyone. Now, we’re thrilled to make our high-quality, awesome electric bikes even more affordable and accessible for everyone.”

For several years, Rad Power Bikes was the dominant player in the North American e-bike market. The company even expanded into Europe and rolled out an impressive US-wide mobile service system with its own branded service vans.

But the past few years have seen an ultra-competitive market carve away at Rad’s lead, resulting in a series of layoffs as well as the shuttering of Rad’s mobile repair service and the closing of Rad’s European operations.

The company had made brick-and-mortar stores central to its business strategy, offering riders a one-stop shop for bike testing, purchases, and service in several cities around the US. Meanwhile, other e-bike companies have expanded their independent dealer networks that rely less heavily on investment in real estate or labor, putting more pressure on Rad’s strategy.

While Rad still operates several brick-and-mortar stores, closures have raised questions about how effective a brand store can be in the face of wider independent bike shop dealer networks.

Rad was also once a price leader in the budget e-bike market, though the introduction of more affordable e-bikes like those from major competitor Lectric Ebikes has seen Rad focus on moving up-market with higher-end models that carry correspondingly higher price tags.

Now today’s shift towards reduced prices could indicate that the sticker shock associated with those more refined models and higher pricetags across the lineup had placed a more significant crunch on the company’s sales than they expected.

Either way you slice it, consumers are likely to benefit from many of Rad’s lower prices.

Some of the price reductions may be more modest, such as $100 off the RadRunner 2 bringing it down to $1,399, but other models are seeing much bigger reductions. The RadTrike, which was released at $2,499, has now seen its price reduced to just $1,599.