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Shocking… I told you so.

RSchneider

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You know something about Arcimoto’s sales I don’t? Demand is there. They can only build 6 units per day! Tooling the new manufacturing plant and the parts supply chain for production scale is the issue. Definitely not the best health, political, and economic environment over the past three years for a new startup company. Tough when all is optimal. Open the sales area to all 50 states out the gate? Makes little sense until production numbers and the servicing network are in place to allow it. Nothing glossy about Arcimoto in my opinion, only actual progress updates/marketing/strategy. Hoping their restructuring strategy is successful or another startup bites the dust.
From their latest SEC filing:
Sales in Q2 2022 - 41
Production in Q2 2022 - 102

For the life of the product:
Sales - 400
Production 632

Looks like to me by those numbers, they can produce more than they can sell. Instead, they have got into the rental business thus deployed 98 and they have 79 in house. Even in Q2 2022, they had 55 units that were finished and sitting there. If "Tooling the new manufacturing plant and the parts supply chain for production scale is the issue" then the finished units would be 0. The sales would be more than the production, yet they are not. So having a larger plant to produce more product makes no sense to me. Plus if there was a supply chain problem, the numbers whould show that too, yet they do not.

I also see that they have learned to just go back to the core product and stop Mark with all of these pet projects. Concentrate on what you sold everyone on and then expand when there is a real demand. Right now, the demand (according to Arcimoto) is not there. No wonder they cut the staff by 1/3 and are doing a reverse stock split to keep from being delisted on NASDAQ.
 

Rickb

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From their latest SEC filing:
Sales in Q2 2022 - 41
Production in Q2 2022 - 102

For the life of the product:
Sales - 400
Production 632

Looks like to me by those numbers, they can produce more than they can sell. Instead, they have got into the rental business thus deployed 98 and they have 79 in house. Even in Q2 2022, they had 55 units that were finished and sitting there. If "Tooling the new manufacturing plant and the parts supply chain for production scale is the issue" then the finished units would be 0. The sales would be more than the production, yet they are not. So having a larger plant to produce more product makes no sense to me. Plus if there was a supply chain problem, the numbers whould show that too, yet they do not.

I also see that they have learned to just go back to the core product and stop Mark with all of these pet projects. Concentrate on what you sold everyone on and then expand when there is a real demand. Right now, the demand (according to Arcimoto) is not there. No wonder they cut the staff by 1/3 and are doing a reverse stock split to keep from being delisted on NASDAQ.
You’re looking in the wrong direction. No FUV’s setting as inventory that I’m aware of. The customers that have placed oorders indicate a 60-90 day delivery. The rental priority FUVs gets vehicles out for people to drive and to be seen……an excellent marketing strategy. Customers that rent on vacation will likely buy them as regional sales expands. Arcimoto also establishes service centers at the rentail Locations. Production scale is in the works at the new factory. Takes time. Too much time for old geezer wannabe owners like me, but I give them credit for the hard work done to date. Although as an early investor, I don’t care much for the stock market. I don’t gain or lose til I sell and plan on willing my $FUV shares to my grandkids.

 
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RSchneider

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You’re looking in the wrong direction. No FUV’s setting as inventory that I’m aware of. The customers that have placed oorders indicate a 60-90 day delivery. The rental priority FUVs gets vehicles out for people to drive and to be seen……an excellent marketing strategy. Customers that rent on vacation will likely buy them as regional sales expands. Arcimoto also establishes service centers at the rentail Locations. Production scale is in the works at the new factory. Takes time. Too much time for old geezer wannabe owners like me, but I give them credit for the hard work done to date. Although as an early investor, I don’t care much for the stock market. I don’t gain or lose til I sell and plan on willing my $FUV shares to my grandkids.

So, even though they have finished product in the factory (as per FUV) they can't deliver orders for 60-90 days. That's a major bottleneck and needs to be fixed.

As for the rental, if I go to Key West and rent one, love it and want to buy one, FUV will tell me that I'm not allowed to as I live in the wrong state and they have no firm timeline as to when they would not ban me from buying one. Since people that go on vacation are typically not from the said state, they better make sure that they live in one of the approved states if they want to buy a FUV. If not, it's just waiting for an indefinite amount of time. In my opinion, that's a horrible business plan for sales. To top it off, one of their big announcements last year for rentals in CA just went belly up. Thus renting FUVS didn't work for them. Then when you look at the FUV SEC filings, the first half of this year, they lost $940K on rentals.

There is no reason why they can't sell in all 50 states. Do not tell me that it's because of service, as that's not true. They signed an agreement with Road America back in February 2020, that provides service and roadside assistance. This company has 170K locations in the US. The service problem was solved over 2 years ago.

As for shipping, I can buy a Ford crew cab dually from Eugene, Oregon and have it shipped to my house. So it makes sense, a FUV could be shipped too. Can't use that excuse either.

Mark was running the company in the ground and hopefully this other guy can turn it around. Sales are dismal and they can't deliver the product. I see they eliminated the CEO of tilting Motorworks, the supply chain and business support managers. Maybe, the supply chain problems was a person not doing their job and not the market. Plus, no mention of manufacturing problems, so I have no Idea where people get that idea. It might be a problem as they eliminated 49 employees and furloughed 66. Less labor means less production unless the company was way too top heavy.
 

Rickb

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So, even though they have finished product in the factory (as per FUV) they can't deliver orders for 60-90 days. That's a major bottleneck and needs to be fixed.

As for the rental, if I go to Key West and rent one, love it and want to buy one, FUV will tell me that I'm not allowed to as I live in the wrong state and they have no firm timeline as to when they would not ban me from buying one. Since people that go on vacation are typically not from the said state, they better make sure that they live in one of the approved states if they want to buy a FUV. If not, it's just waiting for an indefinite amount of time. In my opinion, that's a horrible business plan for sales. To top it off, one of their big announcements last year for rentals in CA just went belly up. Thus renting FUVS didn't work for them. Then when you look at the FUV SEC filings, the first half of this year, they lost $940K on rentals.

There is no reason why they can't sell in all 50 states. Do not tell me that it's because of service, as that's not true. They signed an agreement with Road America back in February 2020, that provides service and roadside assistance. This company has 170K locations in the US. The service problem was solved over 2 years ago.

As for shipping, I can buy a Ford crew cab dually from Eugene, Oregon and have it shipped to my house. So it makes sense, a FUV could be shipped too. Can't use that excuse either.

Mark was running the company in the ground and hopefully this other guy can turn it around. Sales are dismal and they can't deliver the product. I see they eliminated the CEO of tilting Motorworks, the supply chain and business support managers. Maybe, the supply chain problems was a person not doing their job and not the market. Plus, no mention of manufacturing problems, so I have no Idea where people get that idea. It might be a problem as they eliminated 49 employees and furloughed 66. Less labor means less production unless the company was way too top heavy.
If/when there is finished product setting in the factory, it‘s either sold retail customer orders or rentail locations scheduled for pickup/delivery. This ends my discussion regarding personal opinions of Arcimoto’s business model, current production numbers @ 6 units per day with plans in progress for scaled production and regional sales/service expansion. Meanwhile, I continue to wait impatiently on the fully enclosed FUV reveal. The first three wheeler startup company I’ve followed with interest over the past 15 years, including the Elio, that’s reached any level of success. Arcimoto will either succeed or fail. I’ve test driven the FUV and will buy one based on driver comfort, performance & handling, and reasonable level of safety for a motorcycle classified three wheeler when regional sales/service expands to my home town.
 

RSchneider

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If/when there is finished product setting in the factory, it‘s either sold retail customer orders or rentail locations scheduled for pickup/delivery.
Good to see you agree with me. So in three months this is what FUV did:
Production: 102
Sales: 41
Kept for themselves: 4
Rental: 20
Sitting at the plant as finished: 55

So, it seems to me that they should not be sitting on 55 units and stop making them for rental and themselves. If you say paying customers are waiting 60-90 days for their FUV, that's a real problem. Basically the company doesn't mind taking your money and then let you wait a really long time all while finished product sits in the plant. I can only assume that those finished products are driven to places like Florida and with the 40 mile range on the highway and 4 hour level 2 charging, it is taking a long time to deliver it. In the real world of car delivery, it takes about a week at the most. With that, it's a purchased item, not one that gets paid on the spot.

I’ve test driven the FUV and will buy one based on driver comfort, performance & handling, and reasonable level of safety for a motorcycle classified three wheeler when regional sales/service expands to my home town.

I found out that Road America has been sold to Agero. I also found that Mark said this, "We are thrilled to team up with Agero to offer nationwide roadside assistance for all of our vehicles. We believe this will allow our customers to rest assured that they will have the support they need, around the clock, rain or shine, as we scale production and expand delivery to new locales". Plus this from the company, "100 U.S.-based client programs, leverages a curated national network of individual tow and roadside companies, to serve 100 percent of zip codes in the U.S, 24/7/365." That means, you are covered with service. So you can ask Arcimoto as to when they will take you off the "no sell" list to the "sell" list. As for sales, they can stick one on a truck and you'll have it in a week at the most. So, problem solved. You can now buy one.

I'm going to contact them and let them know I'll buy one with cash as they have a service center in my zip code. It will take a week for me to get it but I'm excited. I can build demand in PA as everyone that will see it will want to buy one too.
 
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