Peter Lyon
July 6, 2024
A leasing company will purchase the automaker’s remaining Ocean SUV inventory as part of the regrettable bankruptcy of EV startup Fisker. Fisker will enter into an agreement to sell its remaining 3231 Ocean SUVs to American Lease, a New York-based company that leases to ride-sharing users, according to a new filing published on July 2.
Depending on the condition of the car, American Lease promised to pay between $2500 and $16,500 for each Ocean. While the previously titled Oceans will sell for little more at $3200, the smaller price will be set aside for damaged automobiles. According to Fisker’s filing, it has 2711 new cars in “good working order” reserved for the highest $16,500 price range across fleets in the US and Canada. While the final amount of the sale are still pending, the total figure is currently capped at $46,250,000.
To put those car costs in perspective, the Ocean’s starting price ranged from little under $40,000 for the base Sport model to over $70,000 for the top-of-the-line Extreme model when it originally went on sale. Fisker attempted to escape bankruptcy in March, but was unsuccessful and cut their price by as much as $24,000.
The bulk sale of the leftover SUVs is dependent on whether certain criteria are met, including approval by the court. A hearing on Fisker’s request to approve the sale has been scheduled for July 9. The automaker must request an expedited sale in order to cover essential business expenses like wages and taxes, as stated in the application, if the sale is not approved by July 12.
The document offers more details regarding long-term assistance. The automaker will not be upholding warranties under this agreement, according to the paperwork, which state that “Fisker shall have no obligation of repair or maintenance.” As for warranty coverage that current Ocean owners might expect from Fisker, the brand said “We have no comment beyond our filings at this time.”
CARLIST THOUGHTS
What a shame it had to come to this. When the Fisker Ocean first went on sale its price ranged from just under $40,000 for the base Sport version all the way up to over $70,000 for the flagship Extreme model. Fisker slashed those figures by up to $24,000 in March in an unsuccessful bid to avoid bankruptcy. Fisker then recalled 6864 Ocean SUVs last month, just days before filing for Chapter 11 bankruptcy protection. Now, it’s giving them all up. Man, Henrik Fisker is certainly in the wars. When I first saw the rather smart-looking electric Fisker Ocean a couple of years ago, I had good vibes about it and wished Henrik Fisker well having interviewed him back in 2012 when he launched his Fisker Karma brand. Just goes to show that big names can find survival tough in this cut-throat market.
