Things are still looking bad for Fisker. The American electric car manufacturer is in the middle of an insolvency process that will hardly survive. This suggests the most recent measure of the Californians. Fisher he wants to sell the cars that were produced in stock until they went bankrupt at a discount price. According to US media reports, exactly 3,321 units of the Ocean electric SUV are being sold to leasing company American Lease for a total of $46.25 million (today equivalent to nearly €43 million). That’s $13,927 (€12,931) per car. However, the relevant bankruptcy judge has yet to approve the plan.
This is by no means Fisker’s first desperate attempt to raise capital after the onset of its financial difficulties. The company has already reduced prices for the base models in the spring ocean in the US about $24,000. A similar offer now exists in Germany. Depending on the dealer, the customer pays 20,000 euros less than before. However, this only applies to existing Fisker Ocean Extreme, Ultra and Sport models that are available pre-configured from trade partners. The offer is valid until all vehicles are sold.
Price cuts in the US
Production of Ocean at Magna Steyr in Graz, Austria has already stopped. Until the current plan with American Lease takes effect, Fisker is trying to sell models already built in the U.S. on a regular basis – with actual dump prices that apply to all existing Ocean models starting in 2023. As Fisker previously announced , the base price for the Ocean in the Extreme variant dropped from the original $61,499 to $37,499 (equivalent to around €34,800). The price reduction was a significant $24,000.
An Ocean Ultra was asking $52,999 before the cut. It’s now available in the US from $34,999 (about €32,500) – $18,000 cheaper. And the Ocean Sport has dropped $14,000 from $38,999 to just $24,999 (equivalent to around €23,200). This Ocean variant is likely to be the cheapest new electric car on the US market.
One desperate act after another
All Ocean SUVs offered should already be equipped with the software version of the 2024 models. In addition, some vehicles have additional equipment worth up to $7,000. The new U.S. prices are effective March 29, 2024. To further boost sales, Fisker announced in mid-May that it would also drop the usual $2,438 flat-rate shipping price for the Extreme and Ultra versions. The Sport version does not benefit from this because all existing vehicles in the US have already been sold.
Fisker wanted to keep the offer going until all existing models were sold out. Given the understandable reluctance to buy on the part of potential customers, the plan was to sell the entire existing fleet to American Lease. According to media reports, the New York-based leasing company wanted to take delivery of 2,100 Ocean copies at the end of May. After Fisker went bankrupt, the company expanded its offering to include all 3,321 available cars.
Fisker is insolvent and probably on the verge of bankruptcy. Attempts to sell the Ocean electric SUV at dumped prices failed miserably. Now the manufacturer wants to sell the last copies to a leasing company, but needs the approval of the bankruptcy judge to do so.
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