They have a single speed bike, which is a lot cheaper and not what most people mean when they want to buy "a bike". Adding gears will add at least 100€ to the price, for entry level components.

They also said they replaced the tires with gatorskins, which are 40€ a piece.

I would assume the wheelchairs that prompted this are single speed also though, making it an apt comparison?

So that's $400 instead of $300 then? Not sure if he means CAD or USD.