In the midst of the current economic climate in Europe, Vmoto, an electric two-wheel vehicle manufacturer, hit over a three-year low due to declining unit sales and a gloomy outlook for the future.

The company sold 4,937 units in the third quarter of 2023, which was a 58% decline from the previous year.

International unit sales also fell 65% for the period from the same period in 2022, down to 3,635 units.

This downward trend is expected to continue in the short term as Vmoto’s sales performance is negatively impacted by the present European economy.

This news prompted a flurry of trades, with about 1.1 million shares changing hands, considerably more than the 30-day average volume of 217,070.

The stock has experienced a downfall of 44.3% year-to-date.

Vmoto is a manufacturer of electric two-wheeler vehicles.