Ann: Vmoto's 3Q23 Market Update, page-137

Hi @Gost

"What's still troubles me is that I do not understand *why* the shortfall"

I think it is a consequence of most sales being to a handful of B2B customers in Europe. Companies in Europe are hunkering down at present. Expansion plans are on hold.

Fleet sales are great if you can get them, but the long-term focus has to be on retail (B2C). A quick scan of the highlights in the quarterly shows this shift. Graziano's efforts, and the work being done at C-Creative, are all aimed at B2C. Marketing will be critical to success, as will selection of business partners.