want Executive Thank CEO Forza out welcome My Forza's also Rob. XX. Mike is schedules. CFO, me of Dickerson. I I'm the today. to for Interim morning. Good call your everyone to time Visconti. Joseph today is name Chairman Thank you and you, the the taking With of new interim
you update and developments company I discuss operations. recent call, on current this will During Forza's
and seeing priorities. board, for outboard March, marine call consumer vehicles, Across boat lower is comparison motors. be year-end As continue to economic heavily boats small by recreational in electric to combustion our I demand the uncertainties influenced traditional during alluded shifting the industry in relatively sales with to
XXXX national and that consensus with for the all faster at them a horsepower slowdown in SSI would vehicle registrations primarily the We The adopted all electric vehicles indicates that named a United for rate electric boats, market marine small the boat were tracks sector. are we boats the of noticeable mirroring electric we have was witnessing data A States being company of general in electric that staggering observed much than tracking California. were demand enthusiasm experiencing. broader XXX trend only sold a be boat XX% in electric a concentrated in
difficult. seen motors manufacturers we've Mercury Yamaha committed motor enter engine manufacturers marine follow. and develop and global Suzuki Additionally, space and be the likely against large head-to-head with significant Yamaha like competing Mercury, to extremely own Suzuki R&D These electric likely their have expenses EV to will
and decided pace these slow dynamics, have In assess company. the response to of down we to the we of market testing production future as the
ongoing tightening financial this assessment, we Forza's belt cash by outlay. company's the During are reducing
from target So burn month a as $XXX,XXX we our reduced far, exit approximately has QX year's month [ burn less Forza's $XXX,XXX of rate last a QX $XXX,XXX XXXX. reach to to significantly ] with month per than trailing been of per
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regard and our and and electric opportunities to with our technologies. open available exploring to Our all motor team is options
to with in currently XX-acre property being in our facility located follow. on our continuing Marion, Additionally, square plant the XX,XXX Construction walls we are Forza of with the roof the exterior Carolina. North well. are our construction assembled The is of foot going investment
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For example, access. joint we are have ventures with or that companies technologies exploring market complementary
on system closely to We to enhancing efficiently new into or more would develop reach. combine are share in us looking and to joint our market of allow industry. more broader range recreational the players the These a products risks vehicles, enter marine align electric ourselves with markets and propulsion relationships our other capitalize resources, marine capabilities integrate
can Additionally, firms, and technology we're and development efficiencies in propulsion specializing a those technology always seeking enhance systems, performance collaboration our successful the offerings, with costs sharing particularly while to product risks. battery and collaborate
meantime, Marion to Forza business way the and company. for set burn, we pushing success adjusting actively current through is The the our and product facility. priority and team's find stage the future towards the forward minimize to working final as a best our opportunities are prospective forward growth completing beta cash In Forza's responsibly
thank attending floor have. you questions I'll I may for and any you today, want to to the now open
