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Nissan just stepped away, after Mazda and other big companies looked at Fisker.
Rotting fish.
3. Q4 was -35% gross margin.
Basically, almost all the ev only makers are underwater and bleeding cash. Only Tesla reliably flipped to making money in the past year, but it is also squeezed.
Selling, general, administrative costs $200-230M vs cash on hand $130~M.
So, Fisker, Rivian, Polestar, etc are all underwater, burning cash, and have years to go before they can surface and make a profit. Each needs infusions of hundreds of millions in cash to keep going. Only one has the Saudis feeding it cash.
Given that Fisker to Tesla don't in-house manufacture batteries to components to final assembly, BYD is going to have efficiencies nobody else has.
.......
So no matter how you slice it, the majority of new EV brands will vanish within a decade, replaced by the majors (Toyota, Nissan going on line with next gen battery EVs 2027~) and the few monster sized EV makers (BYD) that have the cash and ability to cut costs, thus prices, faster. Xiaomi an exception since it can fund its EV side from their cellphone profits. Tesla can pull frim Musk - sell X, SpaceX, etc.
..........
So, $37.5k Fisker?
Price out how much can be recovered from selling the parts and battery - that's effectively your 1st day value given that even Tesla won't take them as trade-ins anymore.
So a "disposable" ev car - run it breaks and toss.
....
In the meantime, I'll wait until Toyota/Nissan's 2027 next-gen EVs arrive....
I don't agree with everything you wrote, but at least you provided actual information and facts. Most people post their uneducated opinions as facts. And most of these EV threads have malicious posters that want to stop the EV evolution.
Having said that, it's pretty clear that most EV startups are going to go bankrupt sooner or later. It's just reality. How many cars does the world need? And out is those, how many people are buying EVs? Every car company has an EV. There's too much competition for most of these EV companies to survive. That's just the reality.
Assuming government intervention isn't going to change drastically, tesla will survive. However, as the government becomes more corrupt and powerful, they might want to bring tesla down. Otherwise, there's no reason it won't survive. They started this EV price war because they can handle it and make the others go bankrupt. The other companies, even the legacy ones, will have to adopt EV models. The government is giving them a few more years to do so, so they have no choice.
Toyota especially is not interested in EV and have publicly said so. I highly doubt Toyota should have all your future hopes. They're going to be in trouble too.
Most of these companies have had the technology for a complete lineup of plug in hybrids, but they refuse to produce them knowing how successful they will be.
In my opinion, the way it looks right now, I would think Hyundai/Kia as well as the German automakers have the advantage here, aside from Tesla. Toyota/GM could have been in the front line but they're too corrupt and I don't have any hopes for them, unless CEO gets replaced.
Either way, people shouldn't be a fan boy one way or another. EV is the future. Just get the car that gives you the best deal. Right now, that would be EV cars that have very cheap lease rates. In 1-2 years when interest rates go down, things will be different
Out in CA and the PNW, including more sprawly suburban areas out away from the cities, EVs are pretty common nowadays, and plug-in hybrids more common still. I think it's more a matter of culture than anything else.
Personally I'm looking to lease an EV because for my usage, home charging would keep me perpetually topped off. No stops at gas or charging stations ever, just step into my garage and drive off with a full tank every time. One less thing to think about.
That said, I wouldn't touch a Fisker with a ten foot pole until it's become clear that the company still has a future, even with the discounts. There's no shortage of other excellent, highly capable EV options from more, uhh, stable companies these days.
For me personally I would get a very cheap EV as a runaround for in town driving, that would save putting miles on the cars I have that I actually like plus any potential tax credits but if I had a new EV and new gas car all things being equal I am getting the gas car. Hybrids seem good in theory but when they break they are a huge pain to fix. Hertz has almost a thousand used Teslas for sale, if they drop to $15,000 I would grab one, why not, that's what those things are worth to me.
I really think EVs have hit a maturity in the market and a wall. They had success in the beginning quite frankly due to let's face it a form of socialism. Musk and Tesla benefitted from massive handouts, the public subsidizing these cars with $10,000 tax credits etc etc. Now the market has expanded to places where gas isn't $6 a gallon and tax credits are harder to find predictably sales are slowing. If we got rid of the tax credits and started charging EVs the road taxes they have evaded for years etc the sales would crater more. I am in the Midwest, my neighborhood is as ideal as it could be for EVs, very high household income, average commute just a few miles to work or shopping, minimum 3 car garage on houses, you name it and out of 100 houses we have 4 houses that have EVs and even those 4 houses all still also have gas cars too. The most damning part is the guy who first had EVs in here, multiple Teslas including a Model S Plaid and Mercedes EQS sedan has now gone back to gas vehicles, new full size Range Rover and Mercedes S Class and Audi Q8. Almost everyone would maybe switch to a hybrid but generally don't want full EV. My neighbor's son is literally an EV and hybrid engineer for a Top 5 auto company and he doesn't want to drive an EV. With gas in high $2 to low $3 range, honestly what is the incentive to drive an EV? I can fill up once a week, sometimes once every 2 weeks in less than 3 minutes.
LOL, wrong on so many level.
Yeah like your neighborhood is a representation for everyone else.
Here's a couple of facts. The fact is that a very small percentage who have own Tesla have gone back to ICE cars.
Another fact is that Tesla have the highest brand loyalty of any car manufacturers.
I hate the Chinese but they are going to flood most countries with cheap EVs.
EVs are going to dominate the market in the future, no doubt about it.
Gas are in the $3.5 now, premium is $4+.
My wife 84 miles round trip cost her around $13.44 for her Lexus. The Model Y cost her around $2.53 based on .1145 cents per kwh where we live.
We got the Model Y this part Jan for $51,000- $5k inventory discount - $7500 POS credit making it $38,500+delivery fee+TTL. We were looking at the Prius Prime and it was well past $40k with all greedy Toyota dealership.
There's no better time to get a Tesla.
The MKHD review was a little off. The 2.0 updates fixed the software issues he ranted about. The company had asked him to patiently wait for the update but bashed them instead. I'd love for him to update his review on the updated 2.0
That was a disgraceful hit piece by Marques, I lost a lot of respect for him after that. I am 50/50 on EVs but that video seemed like a hit piece, dare I say a paid hit piece. His past coziness with Musk makes his judgment suspect.
Glad I didn't get the Ocean when my order was ready and got a Rivian instead, hope they don't suffer a similar fate..
I hesitated to cancel due to the non-refundable portion of deposit, but glad I requested one early to get most of it back. Apparently other pre-order holders that requested a refund of their pre-order still waiting for theirs.
Last edited by Tinkleondabeach March 30, 2024 at 11:33 PM.
I don't agree with everything you wrote, but at least you provided actual information and facts. Most people post their uneducated opinions as facts. And most of these EV threads have malicious posters that want to stop the EV evolution.
Having said that, it's pretty clear that most EV startups are going to go bankrupt sooner or later. It's just reality. How many cars does the world need? And out is those, how many people are buying EVs? Every car company has an EV. There's too much competition for most of these EV companies to survive. That's just the reality.
Assuming government intervention isn't going to change drastically, tesla will survive. However, as the government becomes more corrupt and powerful, they might want to bring tesla down. Otherwise, there's no reason it won't survive. They started this EV price war because they can handle it and make the others go bankrupt. The other companies, even the legacy ones, will have to adopt EV models. The government is giving them a few more years to do so, so they have no choice.
Toyota especially is not interested in EV and have publicly said so. I highly doubt Toyota should have all your future hopes. They're going to be in trouble too.
Most of these companies have had the technology for a complete lineup of plug in hybrids, but they refuse to produce them knowing how successful they will be.
In my opinion, the way it looks right now, I would think Hyundai/Kia as well as the German automakers have the advantage here, aside from Tesla. Toyota/GM could have been in the front line but they're too corrupt and I don't have any hopes for them, unless CEO gets replaced.
Either way, people shouldn't be a fan boy one way or another. EV is the future. Just get the car that gives you the best deal. Right now, that would be EV cars that have very cheap lease rates. In 1-2 years when interest rates go down, things will be different
Even Stellantis has more going on than Toyota when it comes to EVs which is crazy.
Quote
from bajanboy5809
:
For me personally I would get a very cheap EV as a runaround for in town driving, that would save putting miles on the cars I have that I actually like plus any potential tax credits but if I had a new EV and new gas car all things being equal I am getting the gas car. Hybrids seem good in theory but when they break they are a huge pain to fix. Hertz has almost a thousand used Teslas for sale, if they drop to $15,000 I would grab one, why not, that's what those things are worth to me.
I'd prefer cheap if I could get away with it too, simply because my needs aren't crazy. Unfortunately in the US EV market there's currently a significant gap in the lower end, with the cheapest new EVs (sans rebates) being several thousand more expensive than the cheapest new ICEs, and in my area dealers are taking advantage of the popularity of the cheapest models to add as much markup as they can get away with.
For the most part, the gap isn't there for technological reasons though, it's because automakers are trying to permanently raise the cost of entry level cars. They much prefer the margins they get that way.
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That was a disgraceful hit piece by Marques, I lost a lot of respect for him after that. I am 50/50 on EVs but that video seemed like a hit piece, dare I say a paid hit piece. His past coziness with Musk makes his judgment suspect.
Idk, I finally watched his Fisker review a month after seeing the video from George. His review was spot on and highlighted the goods and bads. However, I didn't think the downsides were as bad in the video as people made it out to seem. I guess it was the combination of George's phone call and his review where the PR for Fisker really took a nosedive.
Glad I didn't get the Ocean when my order was ready and got a Rivian instead, hope they don't suffer a similar fate..
I hesitated to cancel due to the non-refundable portion of deposit, but glad I requested one early to get most of it back. Apparently other owners that requested a refund of their pre-order still waiting for theirs.
Amazon won't let Rivian go under.
Yeah, they're burning cash like crazy, but so was Tesla.
And look at the amount of preorders they got for their new models!
Yeah, they're burning cash like crazy, but so was Tesla.
And look at the amount of preorders they got for their new models!
Rivian strikes me as being operationally much more sane than Fisker, even if they're burning money. Really hope to see the R3X come to fruition, love how that thing looks.
Yeah, they're burning cash like crazy, but so was Tesla.
And look at the amount of preorders they got for their new models!
Yeah, there's definitely a difference btwn Fisker and Rivian, one that people actually want a Rivian (#1 cust loyalty on CR) and their prices hold + resell well. They just need to manage their costs better as nobody anticipated how frugal investors are nowadays when it comes to cash burn.
I met RJ as he pulled into a random parking lot one time and he sure stands by his product, tried to sell me the bike pad accessory he had on his truck 😅!
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Mar 31, 2024 05:34 AM
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I really think EVs have hit a maturity in the market and a wall. They had success in the beginning quite frankly due to let's face it a form of socialism. Musk and Tesla benefitted from massive handouts, the public subsidizing these cars with $10,000 tax credits etc etc. Now the market has expanded to places where gas isn't $6 a gallon and tax credits are harder to find predictably sales are slowing. If we got rid of the tax credits and started charging EVs the road taxes they have evaded for years etc the sales would crater more. I am in the Midwest, my neighborhood is as ideal as it could be for EVs, very high household income, average commute just a few miles to work or shopping, minimum 3 car garage on houses, you name it and out of 100 houses we have 4 houses that have EVs and even those 4 houses all still also have gas cars too. The most damning part is the guy who first had EVs in here, multiple Teslas including a Model S Plaid and Mercedes EQS sedan has now gone back to gas vehicles, new full size Range Rover and Mercedes S Class and Audi Q8. Almost everyone would maybe switch to a hybrid but generally don't want full EV. My neighbor's son is literally an EV and hybrid engineer for a Top 5 auto company and he doesn't want to drive an EV. With gas in high $2 to low $3 range, honestly what is the incentive to drive an EV? I can fill up once a week, sometimes once every 2 weeks in less than 3 minutes.
If you want to play the "my experience represents the entire industry" game, everyone I know who has purchased a EV has said they will never go back to ICE.
Idk, I finally watched his Fisker review a month after seeing the video from George. His review was spot on and highlighted the goods and bads. However, I didn't think the downsides were as bad in the video as people made it out to seem. I guess it was the combination of George's phone call and his review where the PR for Fisker really took a nosedive.
I finally got to see the unethical dark side of Marques I knew was always there. He seemed particularly hellbent on taking down Fisher, like a personal vendetta. He even alluded to it and then proceeded to do it anyway.
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Glad I didn't get the Ocean when my order was ready and got a Rivian instead, hope they don't suffer a similar fate..
I hesitated to cancel due to the non-refundable portion of deposit, but glad I requested one early to get most of it back. Apparently other pre-order holders that requested a refund of their pre-order still waiting for theirs.
Thanks for being the lab rat for everyone else. What sort of work do you do as a profession?
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They can't even collect money properly or do dmv paperwork right, so good luck with registration.
2. https://news.yahoo.com/fisker-los...11559.htm
Nissan just stepped away, after Mazda and other big companies looked at Fisker.
Rotting fish.
3. Q4 was -35% gross margin.
Basically, almost all the ev only makers are underwater and bleeding cash. Only Tesla reliably flipped to making money in the past year, but it is also squeezed.
Selling, general, administrative costs $200-230M vs cash on hand $130~M.
4. https://www.reuters.com/business/...022-11-14/
So, Fisker, Rivian, Polestar, etc are all underwater, burning cash, and have years to go before they can surface and make a profit. Each needs infusions of hundreds of millions in cash to keep going. Only one has the Saudis feeding it cash.
5. Then, $35k-50k+ EVs from these newcomers, and even Ford can't make EVs at a profit.
https://insideevs.com/news/693626...v-sold-q3/
Versus worldwide, BYD just threw down the massive challenge.
https://electrek.co/2024/03/06/by...700-price/
Sub-$10k EV Seagull.
Given that Fisker to Tesla don't in-house manufacture batteries to components to final assembly, BYD is going to have efficiencies nobody else has.
.......
So no matter how you slice it, the majority of new EV brands will vanish within a decade, replaced by the majors (Toyota, Nissan going on line with next gen battery EVs 2027~) and the few monster sized EV makers (BYD) that have the cash and ability to cut costs, thus prices, faster. Xiaomi an exception since it can fund its EV side from their cellphone profits. Tesla can pull frim Musk - sell X, SpaceX, etc.
..........
So, $37.5k Fisker?
Price out how much can be recovered from selling the parts and battery - that's effectively your 1st day value given that even Tesla won't take them as trade-ins anymore.
So a "disposable" ev car - run it breaks and toss.
....
In the meantime, I'll wait until Toyota/Nissan's 2027 next-gen EVs arrive....
Having said that, it's pretty clear that most EV startups are going to go bankrupt sooner or later. It's just reality. How many cars does the world need? And out is those, how many people are buying EVs? Every car company has an EV. There's too much competition for most of these EV companies to survive. That's just the reality.
Assuming government intervention isn't going to change drastically, tesla will survive. However, as the government becomes more corrupt and powerful, they might want to bring tesla down. Otherwise, there's no reason it won't survive. They started this EV price war because they can handle it and make the others go bankrupt. The other companies, even the legacy ones, will have to adopt EV models. The government is giving them a few more years to do so, so they have no choice.
Toyota especially is not interested in EV and have publicly said so. I highly doubt Toyota should have all your future hopes. They're going to be in trouble too.
Most of these companies have had the technology for a complete lineup of plug in hybrids, but they refuse to produce them knowing how successful they will be.
In my opinion, the way it looks right now, I would think Hyundai/Kia as well as the German automakers have the advantage here, aside from Tesla. Toyota/GM could have been in the front line but they're too corrupt and I don't have any hopes for them, unless CEO gets replaced.
Either way, people shouldn't be a fan boy one way or another. EV is the future. Just get the car that gives you the best deal. Right now, that would be EV cars that have very cheap lease rates. In 1-2 years when interest rates go down, things will be different
Personally I'm looking to lease an EV because for my usage, home charging would keep me perpetually topped off. No stops at gas or charging stations ever, just step into my garage and drive off with a full tank every time. One less thing to think about.
That said, I wouldn't touch a Fisker with a ten foot pole until it's become clear that the company still has a future, even with the discounts. There's no shortage of other excellent, highly capable EV options from more, uhh, stable companies these days.
Yeah like your neighborhood is a representation for everyone else.
Here's a couple of facts. The fact is that a very small percentage who have own Tesla have gone back to ICE cars.
Another fact is that Tesla have the highest brand loyalty of any car manufacturers.
I hate the Chinese but they are going to flood most countries with cheap EVs.
EVs are going to dominate the market in the future, no doubt about it.
Gas are in the $3.5 now, premium is $4+.
My wife 84 miles round trip cost her around $13.44 for her Lexus. The Model Y cost her around $2.53 based on .1145 cents per kwh where we live.
We got the Model Y this part Jan for $51,000- $5k inventory discount - $7500 POS credit making it $38,500+delivery fee+TTL. We were looking at the Prius Prime and it was well past $40k with all greedy Toyota dealership.
There's no better time to get a Tesla.
I hesitated to cancel due to the non-refundable portion of deposit, but glad I requested one early to get most of it back. Apparently other pre-order holders that requested a refund of their pre-order still waiting for theirs.
Having said that, it's pretty clear that most EV startups are going to go bankrupt sooner or later. It's just reality. How many cars does the world need? And out is those, how many people are buying EVs? Every car company has an EV. There's too much competition for most of these EV companies to survive. That's just the reality.
Assuming government intervention isn't going to change drastically, tesla will survive. However, as the government becomes more corrupt and powerful, they might want to bring tesla down. Otherwise, there's no reason it won't survive. They started this EV price war because they can handle it and make the others go bankrupt. The other companies, even the legacy ones, will have to adopt EV models. The government is giving them a few more years to do so, so they have no choice.
Toyota especially is not interested in EV and have publicly said so. I highly doubt Toyota should have all your future hopes. They're going to be in trouble too.
Most of these companies have had the technology for a complete lineup of plug in hybrids, but they refuse to produce them knowing how successful they will be.
In my opinion, the way it looks right now, I would think Hyundai/Kia as well as the German automakers have the advantage here, aside from Tesla. Toyota/GM could have been in the front line but they're too corrupt and I don't have any hopes for them, unless CEO gets replaced.
Either way, people shouldn't be a fan boy one way or another. EV is the future. Just get the car that gives you the best deal. Right now, that would be EV cars that have very cheap lease rates. In 1-2 years when interest rates go down, things will be different
For the most part, the gap isn't there for technological reasons though, it's because automakers are trying to permanently raise the cost of entry level cars. They much prefer the margins they get that way.
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I hesitated to cancel due to the non-refundable portion of deposit, but glad I requested one early to get most of it back. Apparently other owners that requested a refund of their pre-order still waiting for theirs.
Yeah, they're burning cash like crazy, but so was Tesla.
And look at the amount of preorders they got for their new models!
Yeah, they're burning cash like crazy, but so was Tesla.
And look at the amount of preorders they got for their new models!
Yeah, they're burning cash like crazy, but so was Tesla.
And look at the amount of preorders they got for their new models!
I met RJ as he pulled into a random parking lot one time and he sure stands by his product, tried to sell me the bike pad accessory he had on his truck 😅!
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I hesitated to cancel due to the non-refundable portion of deposit, but glad I requested one early to get most of it back. Apparently other pre-order holders that requested a refund of their pre-order still waiting for theirs.
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