Specialized has joined the price slashers and there are huge discounts to be had on electric, hybrid and gravel bikes

Specialized UK has launched what it's calling an "Ultimate Savings" event, offering up to 50% off on bikes, helmets, shoes and accessories.

The sale, which went live on the Specialized website on Monday night, was communicated to press that evening, with the message that consumers should "hurry, as supplies are limited".

Specialized shared a list of 50 reduced bikes, with savings ranging from 15% to 50%, eight models have been slashed to half price in a rare offer from the US brand.

The event features deals on bike models such as the Diverge gravel bike, Crux cyclocross bike and popular Sirrus hybrid, as well as accessories like the Propero helmets and S-Works Recon gravel shoes.

Specialized launched its direct sales model on bikes in January 2022, a decision that wasn't entirely popular among dealers - who were concerned about the brand undercutting prices - a situation which would pose a greater threat in an industry currently experiencing significant turbulence . In this case, offers are live both on the Specialized website, and at local retailers, according to the release.

The sale comes days after it was revealed that Kona bikes was up for sale , seeing the legendary gravel and mountain bike brand become the latest in a line of marques struggling amid the decline in sales following the Covid boom .

Kona offered a 'Buy One Get One Free' deal on selected bikes last year, whilst Canyon also slashed prices, in a move which saw the brand make losses.

In the case of Canyon, CEO Nicholas De Ros Wallace told Cycling Weekly that his "led to increased sales" and also "inspired new and existing customers to interact and engage with Canyon". He added "we saw most companies in the bicycle industry responding to inventory challenges with large discount campaigns in 2023".

Best deals in the Specialized sale

Specialized Sirrus 2.0: was £600 , now £480 at Specialized

Whether you're commuting to work or riding for leisure, the Sirrus 2.0 should have you covered. There are mounts for mudguards and racks, while the hydraulic brakes are well-suited to all weathers. The 2x9 groupset provides plenty of range, and it's all built around a lightweight aluminium frame. View Deal

Specialized Diverge STR Pro: was £8,000 , now £6,400 at Specialized

A £1600 discount makes this high-end Diverge a little more affordable - and you're getting a lot of gravel bike for your money. The carbon frameset features front and rear Future Shock suspension and it's equipped with SRAM's Force Eagle AXS groupset that delivers a huge gear range thanks to the 10-50t 12-sped cassette.  You can read our review of the Diverge STR for more details. View Deal

Specialized Como 3.0: was £2,500 , now £1,750 at Specialized

With a mid-drive motor that responds to your pedalling inputs, increasing your effort by as much as four times, and a 530Wh battery that's good for as much as 68 miles on eco mode, the Como 3.0 is ideally suited for the daily commute. Other benefits include a step-thru frame, suspension forks and clever built-in anti-theft lock. Now with £750 off. View Deal

• S-Works Recon Lace Gravel Shoes - were £300, now £150
• Propero III - was £110, now £55
• Sirrus 4.0 - was £1,700, now £1,360
• Turbo Como 4.0 IGH - was £3,500 now £2,625
• Men's RBX Comp Rain Jacket - was £130, now £65
• Women's SL Short Sleeve Jersey - was £75, now £34.99
• Roval Alpinist SLX Disc wheelset - was £760, now £530
• Ultimate Savings home page

Covid boom then bust in a nutshell

Explaining the market conditions in a recent feature on the situation , associate for the Bicycle Association’s data and insights team Simon Irons told Cycling Weekly : "In a very short period, a slightly overstocked industry suddenly ran out – off the back of rampant demand around the world. The supply-chain lead time is long and quite rigid – it was already six to nine months, but in some cases people were quoting two to three years."

This led to brand and distributors having a consult a crystal ball as to how much stock to order in, "the Covid boom dissipated in about April 2021. Just at the point where the customer demand went back to normal, all this stock arrived," Irons told us. The result being that many have been left with a "huge stock mountain coming into the country", when "many would-be customers had already made their purchases."

Brands, retailers and distributors who overstretched when ordering stock during the pandemic have been badly hit, resulting in a slew of recent price slashes, as those affected attempt to offload excess inventory.