ElectricMotorcycleForum.com
Makes And Models => Vectrix Forum => Topic started by: skadamo on October 09, 2008, 06:59:27 PM
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In an update ahead of results for the year to September 30, Vectrix said it had sold 1,184 bikes to dealers – known as Sell In – representing a 156% increase over the previous financial year.
Michael Boyle, chief executive of Vectrix Corporation said: “The second half of the financial year has been an exciting time at Vectrix. Strategies to stabilise the business are taking hold, cost reductions have proved effective and the acceleration of Sell-In, as a result of the focused expansion in distribution, is continuing. All of these factors, coupled with the expanded 2009 product strategy will allow us to take further steps towards achieving the success we expect from these markets and our business.”
http://www.smallcapnews.co.uk/article/Vectrix_makes_progress_in_drive_to_sell_electric_bikes/5874.aspx
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So, what! 156% increase in sales, from zero sales! Vectrix had warehoused over 2,500 bikes they had to liquidate, or else lose money.
The real question we should be asking are the dealers that carry Vectrix, are they making any money/profit? I am certain they are not!
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It has been pretty well known they have had a rough start. Maybe they are a little ahead of their time. Let's see what happens over the next year or so. My bet is gas prices will be back up over the summer. Almost every week I read about a new municipality picking up a few. Where are you geting your info about how money dealers are making?