Vmoto's 3Q24 performance highlights

Vmoto (ASX:VMT), a global leader in electric vehicles, has reported impressive sales growth for the third quarter of 2024. The company sold 5,645 units, a 14% increase from the previous year and a 35% rise from the second quarter. International sales drove this success, with significant demand from both consumer and business customers. Vmoto maintains a robust financial position with a cash reserve of A$39.7 million.

Vmoto's strategic outlook and future plans

Vmoto Limited has achieved notable growth in the third quarter of 2024, with a 14% increase in unit sales compared to the same period last year. The company has strengthened its international market presence, recording a 35% increase in international sales from 3Q23 and a 112% rise from 2Q24. Strategic initiatives, including investments in Zenion Limited, a joint venture with Nova Machina, and a settlement with Supersoco, have bolstered Vmoto's market position. The company is actively participating in international events to promote electric mobility and is optimistic about the future of the electric motorcycle and scooter market, particularly in Europe. Despite economic challenges such as high interest rates, Vmoto remains committed to innovation and market expansion, with a focus on launching new products to drive future growth.

Executive insights on Vmoto's growth

We have seen a substantial increase in international sales, particularly in our B2C and B2B segments. Our strategic investments and partnerships are paying off, enabling us to expand our market presence effectively. The settlement with Supersoco and our joint venture in South Africa are pivotal steps in our growth strategy. We are committed to enhancing our product technology and exploring new markets to sustain our growth trajectory.