Even with a 30% discount, the Fisker Ocean isn’t selling!

The cash is running out, production has stopped, negotiations with potential buyers are at a standstill, and customers are abandoning the Fisker ship.

Problems tend to come in groups, as President Jacques Chirac used to say, and Henrik Fisker certainly wouldn’t disagree. Of the 70,000 reservations made so far for the Fisker Ocean, 40,000 have been canceled. The figure may seem vague when talking about millions of sales at Tesla or BYD, but it still amounts to about 70 to 80 cancellations per day on average over the past week.

A typical manufacturer would struggle to recover from such a situation, but for a company desperately needing to generate more revenue, it’s just hell. Fisker is logically required to refund part of the $250 deposit made at the time of order. After deducting the $25 processing fee, the calculation is particularly harsh since it amounts to $9 million to be paid out of an empty treasury.

7 times more cancellations than deliveries

In total, Fisker has delivered just over 6,000 electric vehicles to date since the launch of the Ocean SUV in June last year. Last week, Fisker cut the prices of the Ocean by up to 40% to try to boost sales. On March 18, the company announced with fanfare a $150 million funding boost, but a few days later declared that the deal had fallen through. Fisker has been hanging by a thread for months now, after revising its production forecasts downward last year. The company has also faced a series of problems and delays that have generated critical negative publicity. It’s hard to see a future for the brand, or even a ray of sunshine through this cloudy horizon.