Fisker adds new dealers due to extreme price cuts

California-based EV startup Fisker has signed on with several new dealers in Miami and Europe to turn things around. After announcing significant price cuts for its Ocean electric SUV last month, Fisker is looking to expand its dealer network.

Fisker adds new dealers as price cuts roll out

Fisker announced last month that it had halted production for six weeks after failing to make interest payments and expressing “significant doubts” about its ability to continue operations in March.

Fisker said the move is to “adjust inventory levels and advance strategic and financial initiatives.”

But a week later, Fisker announced that negotiations with a “major automaker” over a potential investment had broken down. To make matters worse, Fisker was delisted from the New York Stock Exchange, making it difficult to raise capital.

A few days later, the EV maker slashed the price of its 2023 Ocean electric SUV model by up to $24,000.

The price of the 2023 Ocean Extreme has been reduced from $61,499 to just $37,499. Meanwhile, the MSRP for the 2023 Ultra trim has been reduced from $52,999 to $34,999, and the Sport price has been reduced from $38,999 to $24,999.

Fisker said the price cuts went into effect on Friday, March 29, and similar price cuts were implemented in Canada and Europe.

The EV maker announced Monday that it has signed Fisker Miami as a dealer partner, making it the second company to do so in Florida after Jacksonville.

“Florida is an important EV market for Fisker, so we are excited to welcome Fisker Miami to our growing group of dealer partners,” said a Fisker spokesperson.

In a strategic shift unveiled earlier this year, the new additions mean Fisker now has six dealer partners in the United States.

In addition to the new U.S. dealership, Fisker has signed 12 European dealer partners in Hilleyod, Denmark and Innsbruck, Australia. Fisker has previously signed deals with dealer partners in Austria, France, Germany, Norway and Switzerland.

In another report from car newsa few Fisker dealers remain optimistic about the brand.

Van Langelof, principal dealer at Fisker Albany in New York, said interest is high. “For now, we’re still moving the cars.”

“Time will tell what happens. I love this car, it’s very solid and well built. We can only hope for the best,” he added. .

Fisker said. car news After the price reduction, we gained a large number of potential customers. Meanwhile, the EV maker’s cash declined to just $120.9 million (as of March 15, 2024) after making “significant payments” to suppliers. Wall Street analysts have warned that Fisker is headed for bankruptcy.

After manufacturing zero EVs in January, Fisker manufactured approximately 1,000 EVs between February 1st and March 15th. Fisker said it sold about 1,300 units in the first two months of 2024.