Since we reported a 16% slump in Voxx International shares and a 32% drop in Premium Audio Product sales in the last quarter, the share value of the consumer AV business has slumped a further 6% slump as investors question their investment in consumer audio, during the past month the share value of the Company has slumped over 22%.

Now questions are being asked as to whether they will continue as a subsidiary in Australia or move back to having their products sold via a distributor.

The business that has been described as an “unethical Company” set up their own subsidiary in Australia in controversial circumstances, during COVID before telling their distributor at the time that he was set to be dumped.

They also ended up with several of his key management.

Local management recently kickstarted a local discount war with one observer claiming that they are desperate to generate revenue in an effort to clear ageing stock.

Hi Fi gear sold by Premium Audio Products include Onkyo, Pioneer, Integra, Pioneer Elite, Klipsch, and Jamo.

In the last quarter PMA sales slumped over 32% as the business struggled with stock issues and falling demand for their brands.

In the prior quarter the business sold US $61.9 million, in the last quarter sales fell 32.3% or US$29.5 million back in the same quarter in 2022 the business reported US$91.4 million in sales.

Voxx President Pat Lavelle blames “inflation,” “fears of recession,” “the retail environment,” and “supply chain constraints,” for creating “roadblocks” to the company’s performance this year.

Management claim that while they cannot deliver any assurance of a recovery taking place, they remain confident that the expansion of its Onkyo and Pioneer divisions in international markets such as Australia will continue to deliver results.

Currently the local Premium Audio Products are discounting out products in an effort to clear stock.

Overall Vox International Consumer Electronics sales came in at $357.8 million, down $76.2 million or 17.6% compared to sales of $433.9 million in Fiscal 2022.

PMA Australia have not commented for this story.