FYI: Fisker Ocean EV Prices Plummet Amid Manufacturer’s Bankruptcy
Electric vehicle enthusiasts have a surprising opportunity at hand as prices for the Fisker Ocean EV have dramatically plummeted. Initially retailing over $60,000, these electric crossovers are now available for less than $25,000, with some models having fewer than 1,000 miles on the odometer.
### Affordable Electric Vehicles
For those looking to venture into the world of electric vehicles (EVs) without emptying their wallets, the Fisker Ocean presents an enticing proposition. Currently, numerous nearly-new Fisker Ocean models are selling for under $25,000. This makes them significantly more affordable than the cheapest Tesla Model Y, even when factoring in the $7,500 tax credit and $6,000 in estimated gas savings. Essentially, the Fisker Ocean costs almost half the price of a new Model Y.
### The Catch: Bankruptcy and Service Concerns
So why hasn’t this news gone viral? The reason lies in the financial troubles of Fisker Inc., the company behind the Ocean. Fisker has declared bankruptcy, leading to a myriad of complications. Among these are the limited availability of spare parts and uncertainty regarding servicing. Documented cases exist where insurance companies have totaled Fisker EVs because body shops couldn’t source parts under $1,000.
### An Enticing Deal with Caveats
Despite these issues, the notion of owning a budget-friendly electric vehicle with over 300 miles of range is alluring. This might be especially suitable as a secondary vehicle for those willing to navigate potential repair hurdles. According to Cars.com, the cheapest Fisker Ocean is priced at $22,486, situated in Jacksonville, Florida, with 9,000 miles on the odometer. This particular model is a limited edition One trim, one of just 5,000 units ever made.
### Limited Production and High Specs
Fisker’s manufacturing partner in Austria produced only around 11,000 Oceans in total. Notably, the available models for sale, whether used or brand new, are primarily the top-spec trims. These boast an EPA-rated range of 360 miles on a full charge, surpassing any Model Y configuration.
### Attractive Options on the Market
As observed on Cars.com, the most affordable Fisker Ocean available has just 124 miles and is listed for $23,995 in Los Angeles. Another model with 188 miles on the odometer is priced at $24,694 in Jacksonville. On the higher end, the priciest listing is $49,990 with only 100 miles. However, this seems to be an anomaly as the next highest-priced model is significantly cheaper at $39,990 with 251 miles and prices continue to decrease from there.
### Price Drop and Warranty
When the Fisker Ocean launched last year, the range-topping Ocean Ultra sold for $61,499, with the limited edition One being even pricier. Shortly before declaring bankruptcy, Fisker Inc. drastically slashed prices by up to $24,000, hoping to generate quick revenue. This price reduction left early adopters dismayed, especially when the company went bankrupt shortly after.
Although these vehicles are still under warranty and some Fisker dealerships remain operational, the lack of spare parts can complicate future repairs.
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In conclusion, the Fisker Ocean EV presents an unprecedented opportunity for buyers seeking an affordable electric vehicle. While the prospect of ownership comes with certain risks due to the manufacturer’s bankruptcy, it also offers the potential for significant savings on a high-spec, long-range EV.
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Authored by William Kouch, Editor of Automotive.fyi.
