‘GreenLite’ car sales are up, but not enough to overtake the company’s previous record of $1.9bn in 2016
By Greg CairnsThe greenlight of the electric car is fast approaching, but it’s not going to be easy for one of the world’s biggest car makers to overtake its record of sales in 2016.
The GreenLite car company said it sold 4,093 cars in 2016, a year that was not much better than 2016.
GreenLites sales were down by about 2,000 cars from the previous year.
GreenLites CEO Peter Green said they were struggling to keep up with the demand for their vehicles.
“We’re struggling,” he said.
“It’s very hard to compete with a global competitor.”
GreenLives share price has risen by around 10 per cent since the beginning of the year.CEO Peter Green has been trying to turn around a business that was losing money and that was in a position of being unable to keep pace with the growing demand for its cars.
“GreenLikes market share has been increasing for quite some time,” he told ABC News Breakfast.
“It was in the red in the first quarter of the next year, it was in about the black a year ago.”
Peter Green says GreenLikes is not being forced into making too many cars in the market.
“In fact, I would say that there’s a lot of room for us to go down the road of making more cars,” he says.
“There’s no doubt that we can sell more cars.”
Greenlites share price rose by around 2.7 per cent in the three months to March.
Greenlikes sales are now down from a record high of $3.8bn in 2015.
But, GreenLies is not alone in facing tough times in its business.
The GreenLITE brand, which is based in Australia, has also seen a decline in sales.
Green Lites sales are down by more than 10 per% in the last year.
GreenLoves market share declined by about 7 per cent over the last 12 months.
The Green LITE brand is based on the United States and China.
Its shares fell by about 9 per cent.
Green is not the only car maker struggling with a market downturn.
In September, General Motors revealed it had lost about $300m in the third quarter of 2016.
GM said its losses were a result of a slump in its US car sales, which fell by more then a third.
“The impact of the recent financial downturn on GM has been felt by all of us at GM,” GM CEO Mary Barra said in a statement at the time.”GM’s strategy is focused on making our vehicles as affordable as possible and we continue to invest to deliver the best possible vehicle experiences for customers.”