Revenue growth continues, and dealerships remain profitable through Q3
SALT LAKE CITY, UT / ACCESSWIRE / October 19, 2023 / Motos America Inc. (OTC PINK:MTAM)("Company"), a premium European motorcycle dealership consolidation company and lifestyle brand, today released a comprehensive update for shareholders, highlighting the Company's financial performance and key strategic initiatives.
According to the unaudited internal accounting of the Company, year over year same-store revenues increased 15.5% during the 3rd quarter of 2023. Industry-wide, motorcycle sales were up approximately 1.1% during this same period. Kris Odwarka, President of the company explains this delta by stating: "We are starting to realize sustained operational improvements in the dealerships that we have acquired resulting in collective profitability across our dealership syndicate. With additional acquisitions pending, M/A expects to continue its growth trajectory and commitment to building long-term shareholder value."
Additions to the Motos Team
M/A's national and dealership teams have grown exponentially, now boasting over 100 members across the continental USA. The notable addition of Lisa Higgins as Chief Legal and Compliance Officer, and Brent Sloan, KO Murdock, and David Ibarra joining the Board Directors, underscores M/A's commitment to assembling a diverse and experienced management team.
Substantive Developments across Dealerships
M/A proudly announces progress on multiple dealership facilities, including the groundbreaking for Triumph Columbia River in Portland and the acquisition of Cascade Plaza for BMW and Triumph of Portland. Nashville Motos set a new single-month dealership sales record in August.
Substantive Developments at OEM Partners
Triumph's expansion into the entry-level segment and the introduction of enduro and competition off-road motorcycles, along with BMW's GS lineup upgrades and Ducati's six new models, signal a promising future for M/A. These developments align with the overall health of the Premium European segment in the North American powersports industry.
Shareholders Meeting
The upcoming M/A Shareholders Meeting on November 3rd, 2023, at the new offices in Salt Lake City, will focus on reviewing company performance, M/A's current financial status, and the unveiling of strategic plans for 2024 and beyond.
Motos America is optimistic about 2024, driven by continued expansion, an impressive current product lineup, and exciting developments on the horizon.
About Motos America
Motos America Inc. is a premium European motorcycle dealership consolidation company and lifestyle brand. The Company purchases and operates powersports dealerships, with an emphasis on European luxury motorcycle brands, including BMW Motorcycles, Triumph Motorcycles, and Ducati Motorcycles.
This Press Release contains forward-looking statements within the meaning Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses. Such forward-looking statements include, among others, those statements including the words "expects," "anticipates," "intends," "believes" and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document. Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.
Contacts:
Investor Relations:
CORE IR
(516) 222-2560
investors@motosamerica.com
SOURCE: Motos America Inc.
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