Several Ocean crossover buyers who reserved the electric vehicle with a refundable deposit have reported Fisker's financial troubles as a-
factor in their decision not to purchase. Recent reports indicate that more than 40,000 reservations have been lost that the company will need to reimburse.
The publication Business Insider cited leaked numbers and internal metrics to estimate that Fisker had over 40,000 canceled reservations as of last week.
Fisker's problems are compounded in several ways if the cancellations are accurate. As a result, the revenue forecast for-
the brand has inevitably decreased by the same amount as its sales forecast has declined by over 50%.
According to Business Insider and Fisker's terms and conditions, every reservation holder who cancels will be reimbursed their deposit.
Reservations of one Ocean example cost $250 and additional reservations are $100; both amounts are refundable.
As part of its processing fee, Fisker keeps a $25 charge on every reservation. There is an estimated $9 million debt owed-
to Fisker's customer base, according to the publication. Hundreds of customers have-
separately canceled orders, although the $5,000 deposit on those is not fully refunded.
To rid itself of unsold cars and raise cash, Fisker cut the prices of its leftover 2023 models by up to $24,000 in March-
2024. The company might simply have lost customers due to its precarious financial situation.
Although only the Ocean, which is manufactured by Magna in Austria, has reached production, Fisker has-
indicated that it plans to eventually build three other electric cars. Alaska pickups, PEAR city cars, and-
Ronin four-door convertibles are all available. About 5,600 reservations were received for the PEAR by February-
2023, the brand claimed. Refunding them will further impair the company's financial prospects,
but it remains to be seen whether these still hold.