Fisker, once a beacon of hope in the world of automotive startups, now faces a bleak future, leaving owners of its vehicles in a state of uncertainty and financial loss.
One such case is Edmunds, which purchased a Fisker Ocean Extreme in January for its long-term test fleet, paying a hefty $69,012 for the fully loaded electric vehicle. Just two months later, the value of their investment has plummeted, thanks in part to Fisker’s decision to slash prices by nearly 40 percent.
The drastic price cut has thrown the resale value of existing Fisker vehicles into disarray. Why would anyone pay around $56,000 for a used Ocean when a brand-new one can be had for as little as $25,000?
Adding to Fisker’s woes are scathing reviews and widespread reports of technical issues plaguing the Ocean, further tarnishing the brand’s image. Edmunds bluntly advises, “we cannot stress it enough: Do not buy a new Fisker Ocean.”
The repercussions of these troubles are clear: 40,000 reservations and thousands of orders for the Ocean have reportedly been canceled, pushing the automaker to the brink of financial collapse. Talks of a bailout with a larger OEM have failed, leading to rumors of imminent bankruptcy.
