article thumbnail

Fisker scraps direct sales and turns to auto dealers for sales

Teslarati

Fisker is scrapping plans for direct sales to customers. The startup is now turning to auto dealerships for sales and services. We decided we would rather give that money to a dealer so that we could expand faster,” said Henrik Fisker, the CEO, President, and Chairman of the EV startup.

Fisker 88
article thumbnail

Fisker adds new US dealer and several more in Europe as extreme price cuts take effect

Baua Electric

California-based EV startup Fisker signed a new dealer in Miami and several in Europe as it fights to turn things around. After announcing massive price cuts on its Ocean electric SUV last month, Fisker looks to grow its dealer network. Fisker Ocean electric SUV (Source: Fisker) “Time will tell what happens.

Fisker 52
article thumbnail

Fisker braking complaints trigger NHTSA probe

Teslarati

The National Highway Traffic Safety Administration initiated a probe on 2023 Fisker Ocean vehicles after receiving 9 complaints about the car’s breaks. The NHTSA’s Office of Defects Investigation (ODI) opened a Preliminary Evaluation (PE) to determine the scope and severity of Fisker’s brake complaints.

Fisker 84
article thumbnail

Fisker pivots to hybrid strategy of direct sales plus dealer partners offering ‘no haggle pricing’

Baua Electric

Fisker Inc. This morning, Fisker shared plans to adopt a network of approximately 100 dealer partners in addition to its direct sales model. Fisker Inc. ($FSR) By lowering its targets (four times), Fisker was able to produce over 10,000 Ocean EVs in 2023 and deliver about 4,700 of them, sending company stock soaring.

Fisker 52
article thumbnail

Fisker to report its Q4 2023 earnings: Here are investors’ top questions

Teslarati

Fisker Inc. The electric vehicle startup is currently facing a number of challenges, such as a low stock price, missed targets, a pivot to franchised dealers, and negative reviews of the Fisker Ocean. Fisker’s stock price has fallen sharply, dipping below $1 per share last month. Why should I still invest in Fisker?

Fisker 64
article thumbnail

Fisker has reportedly hired bankruptcy consultants [Updated, Fisker responds]

Baua Electric

Fisker has reportedly hired “restructuring advisers to assist with a possible bankruptcy filing,” according to the Wall Street Journal on Wednesday. Update: Fisker responded with a statement, included below. Fisker has been going through a rough time lately, with its stock possibly being delisted due to low share prices.

Fisker 52
article thumbnail

Fisker has reportedly hired bankruptcy consultants

Baua Electric

Fisker has reportedly hired “restructuring advisers to assist with a possible bankruptcy filing,” according to the Wall Street Journal. Fisker has been going through a rough time lately, with its stock possibly being delisted due to low share prices. As a result of the report, Fisker (FSR) shares are down 46% in after-hours trading.

Fisker 52