Vectrix to file for bankruptcy

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Vectrix_Bankruptcy.jpg“It’s just such a shame, because it was a really good idea and a decent product but lacked the appropriate price point and follow-up development,” a Vectrix insider told DealerNews. “My whole thing was dealer health — if the dealers are healthy everybody wins — and they just didn’t understand that.”

Vectrix is on the verge of filing for bankruptcy after failing to find the investment, loan or government bailout it’s been seeking since April. While we hate to see a motorcycle maker go under, particularly an early innovator in the field of electric vehicles, we’ve heard from multiple dealers and customers who have expressed dissatisfaction with both the product and the company’s business practices.
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The $10,495 Vectrix VX-1 electric scooter allegedly didn’t live up to
expectations for quality and range while dealers complained of being
forced to purchase too much stock up front with very little support
from the manufacturer. European dealers were also dissatisfied by the Vectrix VX-2, which was only a rebodied, more expensive version of an electric scooter many already had in their showrooms.

The company’s President and CEO says he expects to file for bankruptcy within 30 days.

via DealerNews

  • Zeitgeist

    Paraphrasing Cole Porter: Wrong place, Wrong time but such a charming face I dont mind.

    I really wanted to see Vectrix pull through but with so many maybes it seemed doubtful. Of the various electric scoots out there the VX-1 was nicest by far. Maybe some other company will buy the rights and assests to keep the concept moving forward.

  • http://Twitter.com/greatistheworld Will

    Shows that even if you get the right publicity and product but screw the dealer side, it can’t follow through.

    • http://www.urbanrider.co.uk urban rider

      IMO there was/is a need for a small capacity scooter of the build quality of a Vectrix which has removable batteries so you can charge in your living room. That will sell.

      What percentage of scooter riders do you know who have a garage with an electricity source? And of those riders how many have a maxi scooter? And of those riders how many have £8k burning a hole in their pocket?

      Wrong product, insufficiently developed battery technology, lack of market research + lots of bullshit = Adios!!

  • Stu

    Here in Australia it was selling for around the same price as an R6. I was chatting to the importer about 6 months ago at a trade day and he said that he was just started to get traction on sales mainly to local governments. It seems that parking inspectors wanted them. I guess that would be a good application for one, and its an industry that can afford it.