(Source: TreeHugger; HuffingtonPost & Bike Europe)

While news of the four-wheel variety remains bleak with news that GM is on the brinkof bankruptcy, news for the two wheel set is mostly good. In fact, more bicycles were bought in the first quarter of 2009 than cars and trucks. Dennis Markatos @ HuffingtonPost points out, the news isn’t all good. Overall, bicycle sales are down 30 percent for the year, but the good news is that bikes are outperforming cars. In total, around 2.6 million bicycles were sold, compared to less than 2.5 million cars and trucks.  That doesn’t mean all is well for the American bicycle market and it is hard to say that bicycle sales are unfazed by the recession.  In units the Americans imported 1.1 million bicycles less this year. Remarkably the average value increased by 37.2% in the same period. The average FOB value now stands at US$ 96.60 against US$ 70.41 in 2008.

But that percentage drop is slower than the35+% drop in sales for cars and trucks. Since nationwide gasoline prices are now rising above $2.40 per gallon at the pump, we may see another wave of US residents shifting to bicycles for their everyday trips. The large savings from riding a bike over short distances rather than driving can help consumer confidence and support economic recovery.