ZAP Announces Receipt of $21,000,000 in New Purchase Orders for Smart Car
Company Exceeds Sales Goals at NADA Dealer Conference in New Orleans
NEW ORLEANS, Feb. 1 -- Major U.S. automotive dealers gave industry pioneer ZAP a boost at their annual convention, signing purchase orders in excess of $21,000,0000 for the Smart Car Americanized by ZAP.
ZAP is making its debut of the Smart Car to U.S. dealers at the annual National Auto Dealer Association (NADA) Conference and Exposition in New Orleans. CEO Steve Schneider said the purchase orders that ZAP received exceeded their projections. ZAP's goal was to collect new orders totaling $20 million to launch its distribution plans for the Smart Car. The socially responsible, public company based in Northern California has a business plan to establish a nationwide dealer network that caters to fuel-efficient car buyers.
"We are pleased that we exceeded our sales goal," said Schneider. "Dealers were anticipating ZAP's presence at the show with the Smart Car and came prepared to place orders. Others saw the car for the first time and signed on the spot. We expect to fulfill the current orders throughout the coming year as the Company and its joint venture partner Smart-Auto, LLC continue the preparation of securing its inventory supply and converting the European model to meet U.S. guidelines. ZAP is the only company offering micro-cars in the United States that has received full compliance certification from the EPA and the Department of Transportation."
NADA comprises approximately 20,000 franchised new car and truck dealers holding nearly 43,000 separate franchises, domestic and international. NADA's dealer base represents more than $699 billion in annual sales revenues. The conference concludes today.
ZAP now has U.S. compliant Smart Cars available for sale and is hosting a demonstration to the media by appointment in the Los Angeles area. The Smart Car needs to undergo testing to meet California emissions standards, followed by New York, Maine, Massachusetts and Vermont, before it can be sold in these states.
Schneider says rising gas prices and concerns over the environment and the economy are driving up demand for fuel-efficient cars. European testing and news reports suggest that the economy of the gas-powered Smart Car exceeds that of the current hybrids on the market. The car has become a legend here in the U.S. as tourists have brought back stories of seeing the stylish, micro-car in Europe. ZAP says it has received 9,000 consumer purchase inquiries on its website.
The SMARTCAR enables ZAP to accelerate its business plan of establishing a ZAP auto dealer network that caters to socially responsible car buyers with advanced automotive technologies, including fuel-efficient automobiles powered by gasoline, electric, hydrogen and other fuels. The publicly owned Northern California Company made a name for itself over the past decade pioneering the market for electric cars, bikes and scooters.
Smart-Auto LLC is an independent, privately-held company that oversees the direct importation and modification of automobiles to meet U.S. standards.
About ZAP
ZAP has been a leader in clean transportation technologies since 1994, delivering more than 85,000 vehicles to customers in more than 60 countries. A public company, ZAP is traded on the Over-the-Counter Bulletin Board under the stock symbol ZAPZ. The company offers a variety of advanced technology vehicles, including electric cars, bicycles, scooters, motorbikes, underwater scooters and more. For more information, visit http://www.zapworld.com/ or call +1-707-525-8658. ZAP is not affiliated with, or authorized by, Smart GMBH, the manufacturer of SMART automobiles, or the SmartUSA division of Mercedes-Benz LLC, the exclusive authorized U.S. importer and distributor of those vehicles. ZAP purchases its vehicles from non-affiliated direct importer Smart-Auto LLC.
