Breaking Cleantech
Automotive Stock News: Worksport Ltd. (NASDAQ: $WKSP) Sees Over 200% Growth in
B2B Sales; Initiates Pre-Order Campaign for New AL4 Tonneau Cover; @WorksportLtd
Company Initiates Business with Hundreds of Dealers Across USA; New Model: AL4 Attracts Industry-Leading Distributors
West
Seneca, New York - October 29, 2024 (Investorideas.com Newswire) Worksport Ltd.
(NASDAQ:
WKSP) ("Worksport" or the
"Company"), a U.S.-based manufacturer and innovator of hybrid and
clean energy solutions for the light truck, overlanding, and global consumer
goods sectors is thrilled to announce a significant milestone in its
business-to-business (B2B) sales growth, and the newly initiated pre-order
campaign for its highly anticipated AL4 Premium Tonneau Cover.
Explosive B2B Sales Growth
In the last four months, Worksport
has impressively achieved over 200% growth in Dealer Account sales of its
Worksport-branded products, with key dealers in most major areas across the USA
and Canada. This exponential growth is attributed to the surging interest in
high-quality, aggressively priced tonneau covers that meet the demands of
today's market.
While the Company's private label and
consumer direct businesses continue to drive the largest share of revenue for
Worksport, the impressive surge in dealer sales represents an exciting
opportunity for future growth.
Paid
News dissemination for Worksport Ltd
Read
this news, featuring WKSP in full at https://www.investorideas.com/news/2024/10291WKSP-Pre-Order-Campaign-for-New-AL4-Tonneau-Cover.asp
Strategic Dealer Expansion with High
Conversion Rates
- Retail Display Units Shipped:
Worksport has shipped hundreds of displays to key dealer accounts across
the United States. These retail display units will continue to convert
into dealer sales perpetually, representing a considerable long-term
dealer level growth objective.
- Conversion Ratio: These
display units have generated an outstanding 31% conversion rate, meaning
nearly one-third of dealers who received retail display units have placed
orders nearly immediately, preceding receiving and assembling these
Worksport Retail Display Units. Worksport's sales team is working towards
100% sales conversion as a result of each retail display unit installed in
dealer showrooms in the USA and Canada.
- Vast Market Potential: With
over 17,000 dealers in the U.S., strong dealer interest signals a
substantial opportunity for continued sales growth. Worksports growing
sales team is continuing to establish direct connection with each dealer
across the USA and Canada.
Regional Success and Market
Penetration
- Strong Performance in the Southwest: The Company has experienced particularly robust sales in the
Southwest region, driven by Worksport's fast shipping times and high
market demand for tonneau covers.
- First Order from Puerto Rico:
Worksport is excited to announce its first-ever B2B order from a customer
in Puerto Rico, consisting of initial crates of both hard and soft covers.
This marks a significant expansion into new territories.
AL4 Premium Tonneau Cover Pre-Order
Campaign
Following the recently announced production schedule of
the AL4 Premium Tonneau Cover, Worksport is beginning to book pre-orders from
key dealer and distributor accounts in the USA and Canada. Pre-ordering will
end at the end of November at which time Worksport sales team expects
significant early demand and orders.
Key AL4 sales highlights include:
- Interest from Industry-Leading Distributors. Several top-tier national US based distributors are in
discussions to pre-order the AL4, reflecting strong market confidence in
the product.
- Scaling Dealer Network. The
Company will continue to expand its dealer network while attracting new
distributors to enhance scale and market reach.
Management Commentary
"The remarkable trend we have
seen in our B2B segment is a testament to the market's appetite for
high-quality, competitively priced tonneau covers," said Steven Rossi, CEO
of Worksport Ltd. "Our strategic deployment of display stands has not only
expanded our dealer network but has also yielded an exceptional conversion rate
of 31%. The newly initiated pre-order campaign for the AL4 Premium Cover has
already garnered interest from industry-leading distributors, signaling a
bright future for Worksport. We are committed to leveraging this momentum in
2025 and beyond.
Key 2024 Press-Releases:
- October 17: Nasdaq Grants Extension To Regain Compliance
- October 17: $2MM+
Projected Savings From New Strategic Initiative
- October 3: Commencing U.S
Government Sales
- September 30: Update On ISO
Certification
- September 19: Alpha Launch
of SOLIS & COR
- September 12: Record High
August Sales
- September 11: Worksport COR as an EV Range Extender for Tesla
Model 3
- August 14: Record High
Revenues; 275% Q2 Growth
- August 1: Impressive
SOLIS Solar Cover Test Results
- May 8: Worksport Awarded $2.8MM Grant
Read all Worksport press
releases: [Link to All Press Releases].
Stay Connected
- Investor Newsletter: Investors
and customers are invited to follow Worksport's progress as it builds on
this momentum and strives to redefine industry standards with each new
corporate development. Link
to Newsletter
- Contact Information
Investor Relations, Worksport Ltd. T:
1 (888) 554-8789 -128 W: investors.worksport.com E: investors@worksport.com
W: worksport.com
About Worksport
Worksport Ltd. (Nasdaq: WKSP),
through its subsidiaries, designs, develops, manufactures, and owns the
intellectual property on a variety of tonneau covers, solar integrations, and
NP (Non-Parasitic), hydrogen-based true green energy solutions for the sustainable,
clean energy, and automotive industries. Worksport has an active partnership
with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding
cover, designed and manufactured in-house, is compatible with RAM, Chevrolet,
and GMC models from General Motors, as well as Ford, Jeep, Nissan, and Toyota
pickup trucks. Worksport seeks to capitalize on the growing shift of consumer
mindsets towards clean energy integrations with its proprietary solar
solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic),
Hydrogen-based technology.
Terravis Energy's website is terravisenergy.com. For more information, please visit investors.worksport.com.
Connect with Worksport
Please follow the Company's social
media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube,
and Instagram (collectively, the
"Accounts"), the links of which are links to external third party
websites, as well as sign up for the Company's newsletters at investors.worksport.com. The Company does not endorse, ensure the accuracy
of, or accept any responsibility for any content on these third-party websites
other than content published by the Company.
Product social media
Investor social media
X (formerly Twitter)
LinkedIn
Link to Newsletter
Investors and others should note that
the Company announces material financial information to our investors using our
investor relations website, press releases, Securities and Exchange Commission
("SEC") filings, and public conference calls and webcasts. The
Company also uses social media to announce Company news and other information.
The Company encourages investors, the media, and others to review the
information the Company publishes on social media.
The Company does not selectively
disclose material non-public information on social media. If there is any
significant financial information, the Company will release it broadly to the
public through a press release or SEC filing prior to publishing it on social
media.
For additional information, please
contact:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Forward-Looking Statements
The information contained herein may contain "forward looking
statements." Forward looking statements reflect the current view about
future events. When used in this press release, the words
"anticipate," "believe," "estimate,"
"expect," "future," "intend," "plan," "project,"
"should," or the negative of these terms and similar expressions, as
they relate to us or our management, identify forward looking statements. These
statements are neither historical facts nor assurances of future performance.
Instead, they are based only on our current beliefs, expectations and
assumptions regarding the future of our business, future plans and strategies,
projections, anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the future, they are
subject to inherent uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of our control. Our actual
results and financial condition may differ materially from those indicated in
the forward-looking statements. Therefore, you should not rely on any of these
forward-looking statements. Important factors that could cause our actual
results and financial condition to differ materially from those indicated in
the forward-looking statements include, among others, the following: (i) supply
chain delays; (ii) acceptance of our products by consumers; (iii) delays in or
nonacceptance by third parties to sell our products; and (iv) competition from
other producers of similar products. More detailed information about the
Company and the risk factors that may affect the realization of forward-looking
statements is set forth in the Company's filings with the SEC, including,
without limitation, our Annual Report on Form 10-K and our Quarterly Reports on
Form 10-Q. Investors and security holders are urged to read these documents
free of charge on the SEC's web site at www.sec.gov. As a result of these
matters, changes in facts, assumptions not being realized or other
circumstances, the Company's actual results may differ materially from the
expected results discussed in the forward-looking statements contained in this
press release. The forward-looking statements made in this press release are
made only as of the date of this press release, and the Company undertakes no
obligation to update them to reflect subsequent events or circumstances.
Worksport Ltd. (Nasdaq: WKSP) is a featured
renewable energy/automotive stock on Investorideas.com
More info on WKSP at
Investorideas.com Visit: https://www.investorideas.com/CO/WKSP/
Disclaimer/Disclosure: Disclosure: Worksport Ltd. (Nasdaq: WKSP) is a paid featured company on
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