A crisis-stricken electric car company with great ambitions is in such deep financial difficulties that Denmark’s largest interest organization for car owners directly advises once morest buying the company’s electric car.
Around 300 Danes drive around in a Fisker Ocean; an electric car produced by the US-based Dane Henrik Fisker.
In 2016, together with his wife, he founded the electric car company Fisker Inc., which is listed on the stock exchange in California and has an ambition to sell over 20,000 copies of its electric car Fisker Ocean this year.
But the sales figures are declining, and the finances of Fisker Inc. is so glaring that the company risks running out of money within a few months.
Therefore, FDM makes a clear call to Fisker’s potential car customers:
– FDM’s advice in the current, fragile situation for Fisker Inc. is that private leasing is the way forward if you are still interested in a Fisker Ocean, says consumer economist Ilyas Dogru to FDM’s website.
Big challenges behind the scenes
With private leasing, according to Ilyas Dogru, you don’t have to worry regarding resale value or the possibility of service and repair.
It can be advantageous if you buy a car from a manufacturer that, like Fisker Inc. stands on a fragile economic foundation.
On Thursday last week, Fisker Inc. presented an annual report showing a deficit of DKK 5.3 billion.
PR-photo.
Externally, CEO Henrik Fisker’s optimism has otherwise been great. But behind the scenes, the electric car company has for a long time struggled with sluggish sales figures and major challenges with deliveries.
Last year, Fisker Inc. managed only selling half of the approximately 10,000 cars they managed to produce.
Meanwhile, the deficit has just grown and grown. On Thursday last week, Fisker Inc. presented an annual report showing a deficit of DKK 5.3 billion.
Doubts regarding the continued operation
In the same accounts, the company itself raised considerable doubts regarding continued operations, and the share in Fisker Inc. skydived.
It is now down by 90 percent – in just one year.
If Fisker Inc. to survive, the company is deeply dependent on external capital. Anonymous sources tell the news agency Reuters that the car giant Nissan should be interested in investing.
But nothing is confirmed.
In the meantime, Fisker Inc. try to get rid of the approximately 5,000 cars, which are currently putting a heavy burden on the company’s balance sheet.
And there is possibly a prospect of a regular fire sale.
This is predicted by René Tønder, who is an independent strategic advisor and has followed the car industry closely for years.
– When the cars might not be sold in 2023, when they were produced, they can hardly be sold at full price now. I wonder if heavy discounts will be necessary to get the cars sold. Especially now, when potential buyers may be even more worried regarding the company’s chances of survival, he writes on LinkedIn.
At the same time, he predicts that Fisker Inc. relatively quickly risk suffering “liquidity death.”
– Based on current information, the company’s liquidity will probably not last many months, he writes.
2024-03-07 13:04:29
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