RSchneider
Elio Addict
Checking the SEC filings today. Looks like Arcimoto has 180 days to get above $1 so they will not be delisted. As we all remember, this happened before and they did a 20:1 stock split. Currently, Arcimoto is around $0.65.
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Arcimoto
- Thread starter ChuckP
- Start date
I presume you mean a 'Reverse Stock Split'? I'm no expert in this area though, just what I was reading trying to understand it all.
Still seems to me their business plan just isn't making a vehicle that people actually want, and you can only juggle the numbers for so long .....
People want one when they see and or test drive it, but the bugs are not fixed, direct to consumer sales only available in a limited number of States, limited mobile and or factory service options, no local sales/service providers, no marketing/advertising beyond word of mouth by <1000 owners, and the vast majority have never seen and/or know it’s available. The 500-900 owners prefer it as their daily commuter. I‘d buy one in a heartbeat if the bugs were worked out, had the initially marketed full enclosure option, with local sales and service. Same will hold true with any fully enclosed three wheeler that crosses the production finish line.
RSchneider
Elio Addict
I did mean reverse. With Arcimoto, they seem to have overestimated the amount of sales. I think it'll be maybe 225 new units for this year. They seem to miss out on opportunities. For example, there was the Electrify Expo in Long Island. They were not there. Why? That whole area is full of people that have play toys and lots of cash to burn. Where I live, no way to ever test drive one. They seem to hate the whole north east part of the US. Even though they sell to places like NY, PA, CT, VA, DC, and NJ. Yet zero representation by a company that could tap into that market. I hear that once you drive one, you will buy it because it's so much fun. Leaving out the whole NE corridor, is not a way to get sales. With winter coming around the corner, forget doing test drives up here. Now they need to wait until May.
Out of 51 areas in the US, they sell to 18. They pretty much are leaving out a big area of the US. I do see they will be at the Electrify Expo in Austin. Hopefully they will start selling in TX. I fully expect that will be a PR thing where they all of a sudden sell there. As we all know, they need to have service before selling. I bet that's the hangup.
They are just doing creative accounting to keep it running. Selling the plant and then leasing it back is a terrible idea. It's easier said than done. They only use 10% of what they own. So, this RAMP could not support itself. Mistakes from the founder and old CEO has put them in the predicament they are in today. Thus, it will take a while for them to dig them out of that hole.
I suggest they move to the south in the US and build them out of an old warehouse with much cheaper labor. Ditch the overly expensive Eugene Oregon area. Then build the business piece by piece.
Greg@Dragonfly
Elio Fan
Hey Rick. Out of curiosity, what would be the price point at which you'ld buy? If it was electric, what range would you need (min & desired) ? And if it was enclosed, would you want seating for 1, 2, or 3 ? And if 2, would serial / in-line like the Archi be ok , or would you prefer side-by-side at a slightly higher cost / range hit ? I'm interested in hearing your views! Thx!
Usually EVs don't need much servicing, but according to many stories on Facebook group, there are numbers of constant niggling issues with them, that requires service callouts or factory return..
Constant parking brake adjustment, horrendous disc brake wear, sudden shutdowns for no reason, and other peripherals. Doesn't seem to be any hassles with the major components, eg; batteries, motor, driveline, which is good.
RSchneider
Elio Addict
Looks like Arcimoto will need to pay some bills. They were slapped with two lawsuits.
$553K - Roush
$1M - DWFritz Automation
Both were due to non payment of services.
$553K - Roush
$1M - DWFritz Automation
Both were due to non payment of services.
Frankly, after following enclosed three wheeler concepts for the past 15 years, I’ve decided there isn’t enough market demand for mass production numbers needed to make one affordable for the average commuter. Another one bites the dust:
Sonoran Sam
Elio Addict
I don't know if I would have called myself an "average commuter" (when I worked), but I purposely commuted to work on a motorcycle. This allowed me to be alone and use the HOV Lanes (in my state) and actually make it to work in a timely manner.
I haven't researched laws in other states, but if we make the assumption they are similar, do you think demand would increase for an enclosed ICE 3-wheel commuter vehicle (autocycle)?? I mean, as long as they fall under the classification of a motorcycle and commuters could use them in an HOV lane, then I could see a lot of people purchasing them for the sole purpose of commuting. These vehicles would be enclosed and climate controlled, which (I think) is the main reason more people don't commute to work on motorcycles.
I haven't researched laws in other states, but if we make the assumption they are similar, do you think demand would increase for an enclosed ICE 3-wheel commuter vehicle (autocycle)?? I mean, as long as they fall under the classification of a motorcycle and commuters could use them in an HOV lane, then I could see a lot of people purchasing them for the sole purpose of commuting. These vehicles would be enclosed and climate controlled, which (I think) is the main reason more people don't commute to work on motorcycles.
Weaklings! I rode bikes daily for 20 years, any weather.
Originally from Melbourne in Australia, and it was cold rain a lot in Winter, my secret was fishing waders, toes all the way up to my armpits, with a heavy army coat, and a spare pair of dry shoes. Kept me completely dry and warm.
Actually very hot weather with full gear on I find to be more of an issue than cold rain.