Quote:
Originally Posted by NeilBlanchard
Arcimoto's faltering is quite sad - there had to be more than the former CEO's DUI and firing, I am assuming.
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The business plan never made sense from the beginning.
Arcimoto built a factory they claimed could build 50,000 vehicles a year and then didn't even have retail orders for 1 a day.
The 2022 3rd quarter report said they made a grand total of 474 vehicles in the history of the company and 234 of them were "delivered" to the company not retail customers. For the 4th quarter they sold just 89 vehicles. Total 2022 retails sales were only 228.
Then there was the price. Realistically the Arcimoto is a $30,000 to $40,000 vehicle at a realistic sales volume. SEC filings showed they were losing more than $10K a vehicle just in cost of goods sold at the current $18,000 price. There was no way the advertised launch price of $12,000 was realistic. The base Polaris Ranger 590 sells for $12,500 and it is made from a company with a huge economy of scale. The gas Polaris Slingshot is $22K.