Last Updated 2 years ago
A California-based automaker slashed prices by an abnormal amount and that’s generating a lot of buzz right now – but is it really worth it for you to buy one of these electric SUVs?
Fisker, a car company specializing in electric vehicles has announced a price discount on the Ocean model (their only model available) by up to 39% off.
In the current market, automakers are grappling to offer more affordable options giving discounts to buy a new model or to lease it at a very attractive cost. But, is Fisker’s discount something you should consider?
Let’s talk…
The SUV With A Solar Panel On The Ceiling: Fisker
If you don’t know this company, you are not the only one, since the company delivered only 4,929 last year (for context Tesla delivered 1.8 million vehicles in 2023). The company was founded in 2016 by Henrik Fisker who served on the board of Mercedes Benz and was involved in the design of luxury brands such as Aston Martin and BMW.
An electric vehicle that offers luxury design and the latest technology in electric vehicles were the main factors in Fisker Ocean’s concept.
The Fisker Ocean competes in the same category of midsize SUVs with the Tesla Model Y, the BMW iX3, and the Mercedes EQC. And it offers a great driving range of up to 350 miles in its versions Sport and Ultra – way higher than the 250-mile average driving range for EVs currently on the market.
Something that stands out of the Ocean, is the Solar Panel installed on the roof of the Ocean Extreme version called Solar Sky, which according to Fisker’s website, can deliver up to 2000 miles of driving range in a year – for free! It just needs sunshine.
Fisker Is Looking To Liquidate Its Inventory
It’s becoming so normal to see automakers offering discounts these days. You might have seen in the news that carmakers are in a price war lowering prices to allure Americans to buy a new car. And this is working really well for some companies. This week, the firm Cloud Theory reported that Ford’s sales of the Mustang March-E skyrocketed after announcing they would cut the prices in all trims, despite not qualifying for the credit tax.
Therefore it shouldn’t be surprising that Fisker, a smaller company is offering more aggressive discounts on its only model to compete with big companies such as Ford.
Here are the discounts Fisker is offering in all trims of the Ocean model. The most luxurious trim, the Ocean Extreme, is 39% off. For $37,499 you can get a rear seat that reclines electronically. This makes the most expensive version of the Fisker Ocean more affordable than the cheapest version of the Tesla Model Y (even after the tax credit discount).
| Version | Old Price | New Price | Discount |
|---|---|---|---|
| Fisker Ocean Extreme | $ 61,499 | $ 37,499 | 39% |
| Fisker Ocean Ultra | $ 52,999 | $ 34,999 | 34% |
| Fisker Ocean Sport | $ 38,999 | $ 24,999 | 36% |
But there is more….
Fisker Planning to File For Bankruptcy
Early this month Fisker announced the pause of their production due to financial challenges. As reported by the WSJ, the automaker hired a consulting company to help restructure the business for a potential bankruptcy.
After this event, the NYSE suspended the trading of Fisker stock and is planning to delist it from the stock exchange.
That being said, there remains a question…
Should I Buy A Fisker Ocean Now?
I wouldn’t. And this is a hard pass for me mainly because of these 3 reasons:
- Replacement Parts: Most automakers are required to supply spare parts for models for the next 10 years after the model has been discontinued. But this case is different. Who is going to produce replacement parts if Fisker goes bankrupt?
- Maintenance: If the company goes bankrupt, is very unlikely that it will keep operating shops to fulfill the manufacturer’s warranty. Additionally, we all know that electric vehicles are heavily reliant on software to perform as intended. Hence, having a vehicle whose manufacturer is working constantly improving or supporting the software is fundamental for the reliability of the car.
- Devaluation: There are two ways that the value of a discontinued car can go. Either it goes up because now there are limited units available, or the value goes down because very few people liked or wanted that car. Now think about it for a second, a car with no replacement parts or support from the manufacturer, how valuable can it be?
Since I don’t have convincing answers from the manufacturer regarding these concerns, I wouldn’t buy a Fisker Ocean.
What do you think? Will you take advantage of these discounts or do you foresee another reason that will deter you from buying a Fisker Ocean? Let us know in the comments.