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The BBC reports that in 2102, more bicycles were sold than cars in 26 out of 28 countries in the European Union. There appear to be several reasons behind this growing trend. One is because of the recession experienced in many countries after the global financial crisis. Many countries introduced austerity measures, which took away the spending power of consumers who might ordinarily have bought a car instead of a bicycle. The continuing rise in fuel prices is also making motorists think twice about driving. Another reason is that more people are getting into cycling. The BBC reports that: "The popularity of cycling appears to be going beyond the traditional 'cycling capitals' of northern Europe."
A whopping 50 per cent more bicycles were sold than cars. Europeans bought just 12 million cars in 2012, compared to 19.2 million bicycles. Sergio Marchionne, the head of the Italian car giant FIAT, said this was a sorry state of affairs for the car industry, and described it as "carmageddon". Car sales in Italy slumped so badly that they were at their lowest levels since 1965 – a five-decade low. The head of the Italian cycling federation believes there has been, "a small revolution in terms of lifestyle". The head of Italian cycling manufacturer Bianchi agreed. He said: "Customers these days want bikes they can commute with, and top-of-the-range bikes. They are looking for long-term investments."
