Fisker's Struggles: A Tale of Financial Strain and Production Issues

Mar 29, 2024

Over 50% of Fisker's pre-orders since Nov 2019 have been cancelled, impacting cash flow.

Half of Pre-Orders Cancelled

The Ocean has faced production issues since its launch, leading to delays and scathing reviews.

Delivery Delays and Defects

To increase sales, Fisker recently reduced Ocean prices by up to 39%, affecting profit margins.

Price Cuts for Boosting Sales

Over 40,000 reservations for the Ocean have been cancelled, posing a cash flow challenge.

Reservations Drying Up

On average, Fisker is losing 70-80 reservations per day, adding to their mounting problems.

Losses in Reservation Holders

Fisker could have to return up to $9 million to customers who have canceled their orders.

Refunding Canceled Reservations

A few thousand customers have also withdrawn their orders, further straining the company.

Withdrawn Orders

Defects in delivered Oceans have led to scathing reviews, highlighting production challenges.

Troubled Deliveries and Reviews

Fisker faces financial difficulties after failed bailout talks and price cuts impacting profits.

Financial Difficulties and Bailout Talks