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Fisker Doing Just Fine Despite Setbacks

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On: Mon, Jun 4, 2012 at 4:35PM | By: Chris Weiss

Fisker Doing Just Fine Despite Setbacks

Since arriving in the industry with fanfare back in 2007, Fisker has read like a textbook chapter about how difficult it can be to get a business off the ground. Despite having a beautiful product to sell, virtually nothing has gone smooth for the green start-up. It's been mired in all kinds of delays, has had publicity issues, has seen a leadership shake-up, and has fallen out of favor with government backers. We're sure we missed a few setbacks.

If you've watched any of the Great Fisker Debacle, you might be under the impression that a bankruptcy announcement is imminent. However, Fisker sales numbers actually seem encouraging.

According to the numbers released by Fisker earlier this week, it's delivered a total of 1,000 Karmas to customers in the US and Europe. Given that deliveries began in December of last year, that's not bad at all.

In fact, if we look at last year's Volt-Leaf race, Nissan had only sold about 1,050 Leafs through April with Chevy about doubling that. Like the Karma, both models had debuted in the December. Considering the Fisker is three times the price of the Leaf and faces stiff competition in the form of the upcoming Tesla Model S, that seems like pretty good news for Fisker.

Fisker also reports that its revenue has exceeded $100 million in the first four months of 2012. Of course, revenue doesn't equate to profit or financial solvency, and Fisker has a long way to go in securing funding to pursue its next model.

While upbeat, CEO Tom LaSorda touches upon the work ahead in a statement: "We are encouraged by solid demand for the Karma, our unique extended-range luxury model. Pending completion of investment sourcing, we are poised to press ahead with further market expansion and development of our higher volume model, the Fisker Atlantic."

Fisker does say that it's secured more than $170 million in private investment this year, pushing its total over the $1 billion mark since 2007. Last year, Fisker lost hundreds of millions in government funding, which it has yet to get back.

The Atlantic will be a smaller sedan based on the same plug-in technology as the Karma. It's expected to cost roughly half of the Karma's price.



AutoHistory | 9:42AM (Thu, Jun 7, 2012)

Saw one on the streets of Naples, Fl

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