We don’t cover Fisker much here, I’ve had serious doubts about their long term viability, and the downturn in interest in electrics has certainly not helped them. They thought they were going to get a huge cash infusion from an unnamed car manufacturer, but the company said the deal fell through. The New York Stock Exchange suspended trading on the company. Indications are that next steps will be bankruptcy.
The company’s woes just keep coming. Reports say over 40,000 orders been canceled since November of 2019. There are also widespread reports that Fisker’s sloppy bookkeeping led to millions of dollars of lost deposits on cars and a number of people got their new EVs without paying for them at all.
Fisker Slashes MSRPs
In a last gasp to raise cash, Fisker recently announced it's dropped the MSRP on many model year 2023 Fisker Oceans in the U.S., effective Friday, March 29, 2024:
- 2023 Ocean Extreme trim MSRP is being lowered by $24,000, to $37,499 from $61,499 MSRP.
- 2023 Ultra trim will be priced at $34,999 MSRP, reduced from the current $52,999
- 2023 Sport will be priced at $24,999 MSRP, reduced from the current $38,999.
All reduced-MSRP Fisker Ocean trims are 2023 models and come equipped with Fisker’s latest 2024 Ocean OS software version 2.0. Fisker says certain Ocean vehicles also come equipped with $7,000 worth of additional options – such as colors, 22” wheels, interiors, and other options – included in the discounted price. MSRP reductions on 2023 model year vehicles Friday, March 29, 2024.
Fisker says it continues to pursue dealer partnerships in North America and Europe, having announced the strategic shift to a Dealer Partner model in January 2024. The automaker says it's strategically positioning the all-electric Ocean SUV to be a more affordable and compelling EV choice, competitively available to EV buyers in the broadest possible market, and constantly improving via frequent Over-the-air (OTA) software updates.
The automaker says its also working to give Fisker owners the software updates, service, and customer support they require., and says its Dealer Partners are working together with the company to give Fisker buyers excellent value, a simple-to-navigate purchase process, and quick access to 2023 Ocean inventory.
The Ocean Extreme has an EPA-estimated range of 360 miles, the longest range of any new electric SUV in its segment sold in the United States today. Fisker says the Ocean Extreme has the lowest published carbon footprint of any electric SUV, uses over 110 lbs. of recycled and bio-based materials, is built at a carbon-neutral facility, and integrates rooftop solar panels, adding up to 1,500 miles per year of range.
Ford Lightning Cuts Production
Once the early EV adopters got the F-150 all-electric, sales of the Ford F-150 Lightning have fallen dramatically. As a result, Ford is reducing production significantly beginning this past Monday.
The F-150 Lightning is produced at the Rouge Electric Vehicle Center in Dearborn, Michigan. 2,100 workers, divided over three shifts, used to build the EV, but that was before the sales slump began. Starting this month, just 700 employees will remain at the plant, with another 700 heading to the Michigan Assembly Plant, where the much sought after Ranger and Bronco are produced.
The rest of the workers will take a $50,000 retirement package negotiated during last year’s UAW contract talks, according to the Detroit Free Press.
At a Bank of America Securities Auto Summit, Ford CFO John Lawler said the automaker remains “dynamic and makes adjustments to comply with market demands”. He admitted that EV demand is much slower than expected and added that in 2023, the automaker admitted to losing $36,000 on every EV it sold.
Photo Credit: Fisker
