Vmoto Ltd (ASX:VMT) has powered to another strong quarter of results, with international sales of its ‘green’ electric powered two-wheel vehicles increasing 33% to 2,809 units.
This is a pleasing result for the company which is increasingly focused on selling its higher margin, higher value electric two-wheel vehicle products into international markets.
At the end of the June quarter, Vmoto had firm orders for another 1,539 units from international companies with deposits received and delivery scheduled in the current quarter.
READ: Vmoto powers to record international sales for ‘green’ electric two-wheel vehicles
The company expects to receive increasing orders for the E-max and Super Soco electric two-wheel vehicle products throughout the remainder of 2018.
Sales in Europe are particularly strong and during the first half of 2018, there were 1,891 units sold, a 296% increase on sales in the corresponding period of 2017.
Additional distributors
Increasing international sales are being supported by the appointment of additional exclusive distributors.
During the June quarter distributors were appointed in the Netherlands, Czech Republic, Mauritius, Sweden, Finland, Norway and Mexico.
Vmoto is also making positive progress in further expanding its distribution network in Europe, South America and the Asia Pacific.
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Also contributing to the company’s sales growth is an increased focus on marketing and greater social media presence.
In this regard, a new website, www.vmoto.com, was launched in May while a greater focus on Facebook, Instagram and Twitter is targeting a wider audience.
This is aimed at improving brand image, highlighting product applications and further marketing the key features of Vmoto’s electric two-wheel vehicle product offering.
The company’s E-max range targets B2B markets.
Three primary brands
Vmoto operates through three primary brands:
• Vmoto - Vmoto’s own brand, aimed at the value market in Asia;
• E-Max - Another Vmoto proprietary brand, targeting international B2B markets with a high-end premium product; and
• Super Soco - A third party brand Vmoto markets into international B2C markets.
As well as operating under these brands, the company also manufactures for a number of customers on an original equipment manufacturer basis.
International strategy
Vmoto continues to execute its strategy of selling high-value, high-performance electric two-wheel vehicles to the international markets, including delivery, sharing and rental customers and B2C customers.
With the number of additional distributors signed up and their respective commitment to future orders, management remains confident that the company will continue to increase international sales.
This will further consolidate the company’s position as a leading electric two-wheel vehicle manufacturer and provider to the international markets.