Panasonic has been a player in bicycle arena for more than half a century, selling more than 15 million bikes to date.
No doubt, the Japanese megacorp is lacking the brand recognition of its most reputable competitors in the bike arena. Well, given their commercial success, the people at Panasonic may be laughing about their manufacture being mocked as toaster bikes.
The company’s story of becoming one of Japan’s major players in the bike industry is directly linked to its founder, Konosuke Matsushita. The young Konosuke grew up with a family running a bike shop. It seems this evoked a passion for bicycles in him that lasted for his entire life. In his early 20s, he launched the forerunner of what is Panasonic today. In 1923, Matsushita’s first bestseller became a battery-powered bicycle lamp.
After World War II, Konosuke Matsushita channeled his cycling ventures into two subsidiaries: Panasonic Cycle Technology (launched as National Bicycle), manufacturing bicycles and cycling accessories, and the Panaracer Corporation (launched as National Tire), producing premium tires and tubes.
Later, with the baby boomer generation advancing, cycling grew into a major recreational activity. In the US, bicycle sales even topped those of automobiles by units during the 1970s. In the 1980s however, a steep rise in the exchange rate of the Yen met with a general slowdown in demand for bicycles. Export margins dropped significantly.
Manufacturers tried to counter this trend by outsourcing their production to regions with lower cost of labor, chiefly Taiwan. In 1989, Panasonic’s founder Konosuke Matsushita passed away at the age of 94. The manufacturer stopped distribution in North America and a few years later in Europe as well.
Panasonic Cycle Today
Today, Panasonic’s bicycle production is focused on the East-Asian market exclusively. Its current product line-up includes road bikes that look literally the same as their 30-years old predecessors. They feature almost identical lugged chromoly frames using the same Tange Prestige tubes and the same Panasonic corporate race livery.
Want to see what bike production in Japan was like back in the day? YouTube has a promo video showing the manufacturing process as it was in place at Panasonic’s Kashiwara plant in the second half of the 80s. For more memorabilia head over to the Panasonic Virtual Bike Museum that has, among other stuff, a collection of catalog scans from those days.