Australia's Vmoto hits over 3-yr low on lower unit sales in Q3, bleak outlook

Vmoto

09/10/2023 01:38

** Shares of Vmoto  VMT.AX  drop as much as 27.3% to
A$0.160, their lowest since May 2020
    ** Electric two-wheel vehicle manufacturer says it sold
4,937 units in 3Q23, down 58% from previous year
    ** Says international unit sales of 3,635 units for 3Q23,
down 65% on 3Q22 
    ** Adds current economic climate in Europe is negatively
impacting co's sales performance and in the short term, this is
expected to continue
    ** About 1.1 mln shares change hands, compared with the
30-day average volume of 217,070
    ** Stock down 44.3% YTD, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))