Key Takeaways

• Fisker waives $2,438 Destination and Handling fee for 2023 Ocean Extreme and Ultra models.
• The 2023 Ocean Sport is now sold out.
• Fisker receives $3.456 million investment but faces uncertainty with production pause, lawsuits, and financial problems.

Amid all the chaos it is working through, Fisker has announced further price reductions for the remaining 2023 Ocean Extreme and Ultra models. Instead of cutting prices even further, the automaker has waived the $2,438 Destination and Handling fee. While this is good news for customers who can pick up an Ocean for little outlay, it shows how desperate the automaker is to shift stock and bring money in.

In March, Fisker slashed prices by up to $24,000, reducing the MSRP of the Extreme from $61,999 to $37,499 - $1,000 less than the original asking sticker price of the entry-level Ocean Sport. This trim saw a $14,000 discount, bringing the price down to $24,999. That's an incredible steal, undercutting a mid-spec Corolla Hybrid.

Ocean Sport Sold Out

Despite the company's position - and the risk of what could happen to these vehicles if Fisker fails - the low prices are proving appealing to consumers. The automaker announced that the entire 2023 Ocean Sport allocation had been sold out, leaving just the Extreme and Ultra models to choose from. By removing the destination charge, Fisker hopes to tempt more customers into its vehicles. At $26,438 off, the Ocean Extreme represents undeniable value for money - but should you buy one?

That's for buyers to decide, but for many, the writing is on the wall. For a start, Magna, the company that builds Fisker vehicles, announced that Ocean production had been paused. CEO Swami Kotagiri doesn't expect production to resume, which is worrying to say the least. Let's not forget that Fisker is embroiled in several lawsuits, including one filed by an engineering firm seeking $13 million in damages.

Fisker Receives $3.4 Million Investment

Undeterred by this quandary, the automaker remains optimistic about the future and notes it has added three new dealer locations to its retail partner network. There are now fifteen Fisker retail locations and distributors in the United States and territories. Hopefully, the automaker will still have cars to sell via these partners in the coming months. Last week, Fisker's Austrian business unit, Fisker GmbH, filed for bankruptcy protection.

CarBuzz recently spoke to Sam Abuelsamid, principal analyst at Guidehouse Insights. Abuelsamid's outlook on the company's future was less than favorable. "I really don't see anyone stepping up to acquire Fisker or make a substantial investment at this point. A bankruptcy filing is almost a certainly at this stage." It's worth noting that Fisker also announced it had raised an additional $3,456,000 from an existing investor in the form of a short-term loan, with the potential to increase this to $7.5 million.