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Review Solectrac's Financial Troubles and Dealer Issues

2:14
9:51
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Is the Electric Tractor Industry Failing? Real Farmer Shares the Truth!

What happens here

Citing articles from 'pressdemocrat.com' and 'electrek.co', the presenter reveals significant financial problems plaguing Solectrac. Key issues mentioned include eviction from a location owing $65,000 in back rent, numerous dealers cutting ties with the brand after failing to move any electric tractors, and the company actively seeking new investors. He also notes a dramatic drop in the company's stock price, from a high of $12.74 to $0.98, suggesting severe market confidence issues.

Goal: The presenter cites recent online news articles indicating severe financial difficulties for Solectrac, including eviction for unpaid rent and dealers abandoning the brand due to inability to sell tractors.

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maker select track evicted from one location owing $65,000 in rent we're going on electric. latest news out of California is all bad as the company faces eviction and dealers abandon the brand a number of Select track dealers are reportedly cutting ties with the brand after failing to move enough or in some cases any of the electric tractors I don't know uh so this one person one former select track dealer told rural lifestyle dealer I do think the electrification bubble has popped interesting so in the last year the stock has been up as high as $12.74 and is currently down to 98 8 cents per share I don't know what that tells you about the select track company but I'm just going to tell you the facts here that I'm finding online this is all about what I'm just finding online so on November 23rd of 2023 there was an article posted about select track looking for new investors in the future of electric tractors is there a future in electric tractors guys I want you to post a comment down there if I pull up the select track website I I think it's select track.com everything looks good you got a six-year limited powertrain warranty on these tractors you can choose the type of tractor that you want you can download the brochure you can accessorize you can do all sorts of stuff right there on the website but I'm not sure if select track is still selling tractors or if any dealers are still selling tractors so after hearing all that guys and I'm just reading straight from the web this is not my opinion this is not what I think about the machine this is what's out there on the web about select track tractors and ionomics what a disappointment in the stock price dropping I don't know if the stock split or anything like that at some point and it dropped I I don't know exactly what went on there but what a significant price drop in the stock from ID inomics did that come from the select track tractor I don't know speculate that's all I can do I can't tell you what I can tell you is I've been very happy with this machine it mows great it's strong as an ox it's a little bit heavier than a typical 25 horsepower tractor on the top of it right there I have the cool tops fan that blows down on me I like that I'll post a link to that in the video description for you is this electric tractor company out of business the website is up the website's running wide open can you still get a select track tractor are there dealers in your area that still provide these

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