Fisker, Inc., the manufacturer of the Ocean all-electric crossover, is dealing with financial difficulties, with less than $100 million remaining to survive until the end of the year. Production of the Ocean EV has been put on hold, employees are being laid off, and inventory vehicles are being heavily discounted in hopes of generating revenue. Owners who paid top dollar for the Ocean are upset due to quality issues, bugs, and lack of support. Investors have seen their money disappear when the New York Stock Exchange delisted Fisker due to consistently low stock prices. However, the company is not yet bankrupt, with an investor willing to offer $150 million to help sustain operations.
Currently, there are limited franchised dealers and Fisker Centers in the US, making it challenging for owners to find places to honor warranties if Fisker goes bankrupt. Past experiences with Fisker Karma owners provide insight into what Ocean owners can expect in terms of serviceability, availability of spare parts, and resale value if Fisker, Inc. goes out of business. However, the Fisker Ocean is a newer vehicle compared to the Karma, which poses unique challenges for repair specialists. While some parts are off-the-shelf and could be sourced from third parties if needed, lack of access to source code for diagnostics could create challenges.
Repair specialists who have experience working on Fisker Karmas feel confident that they can diagnose and repair the vehicles, even with the company no longer in business. However, software issues could be a significant challenge for diagnosing problems. Depreciation on the Fisker Ocean has been steep, with reports of up to a 70% drop in value in less than a year for some models. Finding buyers for used Fisker vehicles can also be challenging due to limited production numbers.
If Fisker, Inc. were to go bankrupt, the most beneficial outcome would be if another company bought the assets and continued supporting dealers and service departments. Alternatively, independent repair shops across the US are still servicing original Fisker Karma vehicles and could potentially provide support for the Ocean. Current Ocean owners are urged to consider the potential challenges of maintaining their vehicles if the company were to go under, including limited access to parts and service. Ultimately, buyers are encouraged to do their research and weigh the risks before purchasing or investing in a Fisker Ocean.
In conclusion, Fisker, Inc. faces financial troubles with limited funds and production halted for the Ocean EV. Owners may face challenges in finding service and support if the company were to go bankrupt. Repair specialists are optimistic about their ability to diagnose and repair Fisker vehicles, but software issues could pose obstacles. Depreciation on the Ocean has been steep, and finding buyers for used models may be difficult. Owners and potential buyers are advised to consider the risks before investing in a Fisker Ocean.
