Ann: Chairmans AGM Address, page-15

For the first time, two utes hold the first and second position in New Car Sales in Septembe 2017, with the Ford Ranger and Toyota Hilux. Australia's obsession with utes is still growing, it seems.

20 years ago when airbags were introduced, some speculated that it would be the end of bull bars. ARB put a significant amount of money into R&D and production to come up with systems that allowed the bull bar to survive. I think this will be the same for EV - the change will be slow in some areas, but ARB has the ability to adapt and take advantage of new opportunities.

Farmers, Tradies, 4WDers, Caravaners, etc will always have their specific needs and a "smaller electric vehicle" is unlikely to impact the market dramatically. Currently I see more risk in the actual economy where spending will decrease due to higher interest rates, increased unemployment and housing affordability (ie. a economic recession).