2023 Fisker Ocean Prices Slashed Dramatically, But Who Will Bite?
The setbacks and negative reviews keep mounting for Fisker, maker of the Ocean electric crossover. In recent weeks, more than 40,000 reservation holders in the U.S. have backed away, and the company has decided to cut prices dramatically in hopes of clearing 2023 models in stock.
A similar move was made in Canada. Since April 8, the online inventory on Fisker’s website has been showing a whopping $31,000 price cut on top-line 2023 Ocean Extreme models, down from $79,799 to $48,799. That’s nearly 40 percent off.
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The actual price is even lower considering that the $5,000 rebate from the Canadian government’s iZEV program suddenly applies. Ditto for some provincial rebates. If you live in Quebec, for instance, you could save up to $12,000 (tax included) thanks to the incentives.
The Fisker Ocean Extreme offers a range of 579 km according to Natural Resources Canada. So does the Ocean One launch edition, the price of which has not been slashed and still stands at $90,264. There were no Ultra or Sport models built for 2023 (563 km and 372 km of range, respectively), meaning those must be ordered as 2024 models with prices starting at $67,999 for the former and $45,999 for the latter.
Back in early March, Fisker reported a loss of $463 million USD in the fourth quarter of 2023 and laid off 15 percent of its staff. Preparing for another difficult year and adjusting its outlook for 2024 to be much more conservative (20,000-22,000 deliveries worldwide), the company admitted that its current resources were “insufficient to satisfy its requirements over the next 12 months” and entertained “substantial doubt” about its survival.
Talks with an undisclosed “large carmaker” about a possible alliance and financial lifeline have recently dissolved, and since that might have been its last chance to stay afloat, a bankruptcy is looking increasingly likely.
Not helping Fisker’s cause, various media outlets including Road and Track, Consumer Reports and popular YouTuber MKBHD from Auto Focus have posted pretty harsh reviews of the Ocean lately.
Fisker said it has approximately 4,700 vehicles in its current inventory, carried over from 2023 and including 2024 production. Their combined value is estimated at more than $200 million USD. Production at the Magna Steyr plant in Austria was put on halt for six weeks on March 18 “to align inventory levels and progress strategic and financing initiatives,” the company explained in a statement.