The Shocking Depreciation of Fisker Ocean EV

Apr 01, 2024

Depreciation is a reality in almost all cars, but most lose about 20 percent in the first year.

Introduction

Edmunds spent $69,012 for a Fisker Ocean Extreme – and posted a scathing review.

The Purchase

Adding insult to injury, Carmax appraised the vehicle at just $21,000, which represents a staggering 70 percent depreciation in just two months!

Staggering Depreciation

Fans of automotive startups may be disappointed by the recent flood of bad news surrounding Fisker, but for owners, it could be downright panic-inducing.

Panic-Inducing

Concerned by this possibility, Edmunds decided to check in on how much their Fisker Ocean Extreme was worth after two months.

Checking the Value

After 4,220 miles (6,791 km), Carmax appraised the vehicle at just $21,000, a loss of 69.6 percent in value in just two months.

Shocking Loss

Depreciation is expected, but losing almost 70 percent of a car's value in days is alarming.

Astonishing Depreciation

Factors contributing to the Fisker Ocean's depreciation include a drastic price cut and negative reviews.

Reasons for Depreciation

Cancellation of 40,000 reservations and reports of technical issues have further impacted the Fisker Ocean's reputation.

Canceled Reservations

Failed bailout talks and rumored bankruptcy put Fisker in dire straits financially.

Financial Struggles