Vmoto (ASX:VMT) faces steep decline with 54% drop in Q1 sales

Vmoto reported a 54% drop in first-quarter sales compared to the first quarter of 2023, totalling 3,425 units sold. International sales also fell 52%.

The decline is attributed to volatile macroeconomic conditions, particularly in Europe and China.

The company anticipates a net loss after tax for 2024 in the range of $3.3 million to $3.6 million due to increased operational costs from new European subsidiaries.

Vmoto completed the acquisition of the remaining 50% interest in Vmoto Soco Italy. It is also consolidating its brands under the unified "VMOTO" brand and launching a new website for improved consumer engagement.