Fisker is toast.

[francisco collazos]

Looks like Fisker is heading for Bankruptcy and it's not good news for the people that purchased their half baked cars. Horrible to have a 80k car that has crappy software, a bad key fob and virtually no support. You would think there was a way out for the owners.

 

[RyanB]

Who?

 

[Mtns2Skies]

https://www.cnn.com/2024/03/25/cars/fisker-shares-halted-ev-company-uncertain-future/index.html

They've had a rough go:

Tesla rival Fisker faces possible NYSE delisting and safety concerns over some of its cars rolling away

Danish designer Henrik Fisker's (second) eponymous company has faced challenges reaching customers and growing its presence in the EV market.

fortune.com

 

[Zeldman]

Again, who.??

And what is a bad fey fob.??

 

[Timbeck2]

Who?

The scissors peeps

 

[donjohnston]

Fisker made electric cars. IIRC, this was the second company under Henrik Fisker. So he's 0-2 in electric car companies.

And a key fob is that thing which some (most now) cars have that let you unlock the car and start it.

 

[Sac Arrow]

They make like scissors don't they?

 

[eman1200]

and toast, apparently

 

[Aviatorbrew]

Who in their right mind would spend 80k on a virtually unknown company, on an untested for durability vehicle??
Same goes for rivian and all the other un-knowns

 

[Mtns2Skies]

Same goes for rivian and all the other un-knowns

Rivian EV Production Hit A New Record In Q4 2023 Beating Annual Guidance

Rivian's revealed today a very positive electric vehicle production and delivery numbers for the fourth quarter and full year 2023.

insideevs.com

Lots of people, apparently.

 

[SoonerAviator]

Who in their right mind would spend 80k on a virtually unknown company, on an untested for durability vehicle??
Same goes for rivian and all the other un-knowns

Lucid, Rivian, Tesla, etc. all have to start somewhere. People like to be the "first" to own something new, sometimes spending absurd money in order for that distinction. I don't buy the first model of anything, whether that be from Fisker or Ford, lol.

 

[Peter Anderson]

Who in their right mind would spend 80k on a virtually unknown company, on an untested for durability vehicle??
Same goes for rivian and all the other un-knowns

Fisker has actually been around longer than most of the other electric car companies. I saw fiskers on the road long before I ever saw a Tesla. They made hybrids before those were popular too.

Sent from my iPhone using Tapatalk Pro

 

[francisco collazos]

Fisker has actually been around longer than most of the other electric car companies. I saw fiskers on the road long before I ever saw a Tesla. They made hybrids before those were popular too.

Sent from my iPhone using Tapatalk Pro

Yeah, and the same thing happened many years ago. Actually the original fisker were great looking cars I think actually ahead of their time.

 

[Aviatorbrew]

Lucid, Rivian, Tesla, etc. all have to start somewhere. People like to be the "first" to own something new, sometimes spending absurd money in order for that distinction. I don't buy the first model of anything, whether that be from Fisker or Ford, lol.

True that they have to start somewhere

I wait two model years before I will consider a purchase on a newly released,

 

[Velocity173]

They got some bad reviews out the gate. Lots of bugs with the software. Lucid and Rivian won’t be far behind unless they make major changes. Both lose a fortune on every car made. Tesla is one of the few that actually makes a profit on every car made. Economies of scale.

 

[RudyP]

Henrik Fisker definitely has a bad record of building and running car companies. As a designer, I'd say he's had some real hits - but I may be biased as an owner of one of his designs:

 

[SoonerAviator]

Henrik Fisker definitely has a bad record of building and running car companies. As a designer, I'd say he's had some real hits - but I may be biased as an owner of one of his designs:
View attachment 127158

No one ever said his car designs weren't attractive, they just aren't reliable. That's no less-true with an AM, lol.

 

[francisco collazos]

Lucid, Rivian, Tesla, etc. all have to start somewhere. People like to be the "first" to own something new, sometimes spending absurd money in order for that distinction. I don't buy the first model of anything, whether that be from Fisker or Ford, lol.

i do love my polestar 2

 

[Tarheelpilot]

i do love my polestar 2

I like pole stars as well.

 

[Clip4]

Who in their right mind would spend 80k on a virtually unknown company, on an untested for durability vehicle??
Same goes for rivian and all the other un-knowns

Who? The same people who buy new SR22s and find out Continental forgot how to assemble engines.

 

[francisco collazos]

I guess it begs the question ..should there be some consumer protection against this?? I mean you expect to gamble when you buy stocks but cars?

 

[TCABM]

I guess it begs the question ..should there be some consumer protection against this?? I mean you expect to gamble when you buy stocks but cars?

Not everything can be too big to fail. And yes, being an early adopter is always a gamble which is why early adopters are usually a small audience.

I certainly wouldn’t be paying mid-five figures and above for a car from a manufacturer that hasn’t proven their ability to stay in business for as long as I tend to own a car, which is about 12 years.

 

[ElPaso Pilot]

I guess it begs the question ..should there be some consumer protection against this?? I mean you expect to gamble when you buy stocks but cars?

???

Not sure how that would / could work.

Fiskar buys their cars back? They're broke...

But hey, it's a great time to buy a cheap Fiskar. Sorry to the 3 people who bought one last month at MSRP.

Fisker slashes MSRPs of Ocean trims by tens of thousands as it fights to stay in business

Fisker Inc. is continuing a trying month of March as it claws at the hole it has found itself in,...

electrek.co

2023 Fisker Ocean Trim	Previous MSRP	New MSRP	Price Difference
Ocean Sport	$38,999	$24,999	-$14,000
Ocean Ultra	$52,999	$34,999	-$18,000
Ocean Extreme	$61,499	$37,499	-$24,000

 

[ElPaso Pilot]

I guess it begs the question ..should there be some consumer protection against this?? I mean you expect to gamble when you buy stocks but cars?

An yes, if you're buying a Fiskar and don't realizing you're gambling... I don't know who can help you.

 

[ElPaso Pilot]

From the comments in the above chart. If true, they've got even more problems.

Fisker slashes MSRPs of Ocean trims by tens of thousands as it fights to stay in business

Fisker Inc. is continuing a trying month of March as it claws at the hole it has found itself in,...

electrek.co

PolarPenguin
5 hours ago

At the end of Q4 they had some 5400 undelivered Oceans, right? Even at these prices you're looking at $135 million if they're all just the Ocean Sports. I wonder if that would be enough cash for them to try and recover.
Reply

• 
  Bokonon
  4 hours ago
  
  No. It will not be enough. Last time they had $90M unrestricted cash and $180M account payable including many overdue payment including cash collected from buyers for tax and registration fees for cars they have simply stolen. They have high costs, (lawyers, warranty, etc. ) and their cost of making the cars were over $20k above the oroginal sale prices, so they will have no money to restart production. This is now merely extending the time that the Fiskers and their relatives can collect salaries.

 

[G-Man]

Fisker has announced big price cuts to stave off bankruptcy. Trying to read between the hype, it seems the Base model Ocean was $38K and will now be $25K.
Setting aside the issues of Fisker's viability, does anyone think this will spur Tesla to increase or maintain price cuts?
For example, their website says "$1,000 price increase on all Model Y cars starting April 1." Think that might go away?

 

[SoonerAviator]

Fisker has announced big price cuts to stave off bankruptcy. Trying to read between the hype, it seems the Base model Ocean was $38K and will now be $25K.
Setting aside the issues of Fisker's liability, does anyone think this will spur Tesla to increase or maintain price cuts?
For example, their website says "$1,000 price increase on all Model Y cars starting April 1." Think that might go away?

No. Tesla knows Fisker isn't stealing many potential customers away from them, and they also know Fisker is about to flatline on the operating table. No reason to lower pricing/profitability based off of a competitor who is circling the drain with a fire sale trying to generate cash flow.

 

[ElPaso Pilot]

Setting aside the issues of Fisker's viability, does anyone think this will spur Tesla to increase or maintain price cuts?

Absolutely not. Fisker and Tesla are not competitors.

In 2023, Tesla sold more vehicles each and every day than Fisker sold all year.

 

[RudyP]

No one ever said his car designs weren't attractive, they just aren't reliable. That's no less-true with an AM, lol.

Gaydon era AMs (DB9 and onward) are actually quite reliable. I’ve had mine for 12 years and other than consumables (oil, filters, fuel, brake pads, etc) I have only ever had one issue - the clock wouldn’t reset after adjustment which required a software reboot essentially and I also replaced the gas struts that hold the doors open because they were losing strength and the doors wouldn’t stay open. Other than that, nothing. I do almost all the service myself so it costs me less than $200 /year in maintenance on average.

I’m on an a couple Aston owners’ boards and that’s pretty typical. They’re pretty simple cars and well built.

But anyway, Fisker was the designer of these cars, and not responsible for the car’s engineering development.

My 90s Ferrari on the other hand has DEFINITELY earned its reputation for being an MX hog.

 

[Velocity173]

Gaydon era AMs (DB9 and onward) are actually quite reliable. I’ve had mine for 12 years and other than consumables (oil, filters, fuel, brake pads, etc) I have only ever had one issue - the clock wouldn’t reset after adjustment which required a software reboot essentially and I also replaced the gas struts that hold the doors open because they were losing strength and the doors wouldn’t stay open. Other than that, nothing. I do almost all the service myself so it costs me less than $200 /year in maintenance on average.

I’m on an a couple Aston owners’ boards and that’s pretty typical. They’re pretty simple cars and well built.

But anyway, Fisker was the designer of these cars, and not responsible for the car’s engineering development.

My 90s Ferrari on the other hand has DEFINITELY earned its reputation for being an MX hog.

I was looking at Ferrari 348s for awhile. Then I read about the $10K periodic belt service.

 

[RudyP]

I was looking at Ferrari 348s for awhile. Then I read about the $10K periodic belt service.

Yeah and that's the tip of the iceberg (not in cost but quantity). Some little thing (usually not very expensive if you are a DIYer) but annoying nonetheless seem to be always wrong. I have a 355 but mechanically very similar to 348.