Elio Motors An American Automotive Company - 923 Words

Elio Motors is an American automotive company founded by Paul Elio in 2009. Currently, Elio Motors is producing a low cost personal transportation vehicle called an Elio, named after the company and its founder. This automotive is a three wheeled, 84 mile per gallon, $6,800 vehicle that is inexpensive and fuel efficient compared to those in this economy with high costing vehicles and soaring fuel prices. Elio Motors is hoping to begin distribution of the product in late 2016. In terms of organizational environment, Elio Motors has ranging factors of general environment. As stated before, the company founded its organization on an economic factor. Seeing as American society struggled with the prices of both personal transportation and fueling, the company structured their product to fit the needs of their customers. Despite the market for IPO’s falling, Elio Motors managed to raise over $16 million. As prices for fuel and vehicles continue to rise, demand for the product will i ncrease. With technology advancing every day, Elio Motors has decided to design their product with no new technology; by doing so, the company avoids any technological risk associated with unfamiliar technology. Elio Motors has altered their product to fit different sociocultural characteristics. The product is fit to accommodate most people who would like to buy the Elio. It is designed to be suitable for a person of 6’1† 220 pounds, but has fit up as tall as 6’8†, and as large as 365 pounds, as theShow MoreRelatedSegmentation And Target Market : Elio Motors1120 Words   |  5 PagesSegmentation and Target Market: Elio Motors Paul Elio is the engineer and Chief Executive Officer of an American startup automaker, Elio Motors, which was founded in 2008. Production was scheduled to begin in early 2015 in Shreveport, Louisiana, however it has been delayed. The design of the vehicle has three wheels with all the standard options of a four-wheeled vehicle. The selling points of this vehicle is that ninety percent of the parts used to produce the vehicle are American made, it can get aroundRead MoreSegmentation and Target Market1581 Words   |  7 Pagesï » ¿ Segmentation and Target Market: Elio Motors Tina M Miller MKT 571 August 18, 2014 Jason Leonard Segmentation and Target Market: Elio Motors Introduction Paul Elio is the engineer and company CEO of an American startup automaker founded in 2008: Elio Motors. Production is slated to begin in early 2015 in Shreveport, Louisiana. The design of the vehicle has three wheels with all the standard convinces of a four wheeled vehicle. The selling points of this vehicle is that 90% of the parts used