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China is already way Way WAY ahead on building EV cars
China isn't way way ahead. Chinese EVs simply have way way more government subsidies. People buying it because the government is losing money on the cars they are selling. A deal for consumers. Only a few out of nearly 100 EV startups in China are around. If will grow as long as subsidies are there.
I sort of feel bad for Henrik Fisker. Who lost most of his money and other investors money with his first Fisker EV sports car to compete with Telsa Model S. Now this. Maybe EV industry is not for him.
He put his family members in high leadership roles. He subs out the actual assembly of this vehicle to a place that builds lots of other cars. But he is repeatedly refusing their recommendations in favor of cost cutting. Thr company is going exactly where he is taking it.
Just so everyone knows - there is a "hack" to getting the $7500 rebate for cars that aren't made in US or if you have too much income. The hack is to LEASE the car instead of purchase. Government gave exception. So if you leased, and obviously this assumes the sales price is reduced $7500 due to lessor now getting rebate - you would still be able to take advantage.
You're still out the acquisition fee and other small charges - so maybe you end up getting 6k incentive instead of $7500, but still that's nothing to sneeze at.
You basically lease the car, and after a month you just buy out the lease if you were planning on purchasing anyways.
Honestly I had no idea. Just looked and you are right - NOBODY can purchase a car they leased from Tesla. Never heard of that. Interesting wonder why Tesla doesn't allow lease buyouts - maybe they think the residuals are artificially low and value at lease end will actually be higher?
Just so everyone knows - there is a "hack" to getting the $7500 rebate for cars that aren't made in US or if you have too much income. The hack is to LEASE the car instead of purchase. Government gave exception. So if you leased, and obviously this assumes the sales price is reduced $7500 due to lessor now getting rebate - you would still be able to take advantage.
You're still out the acquisition fee and other small charges - so maybe you end up getting 6k incentive instead of $7500, but still that's nothing to sneeze at.
You basically lease the car, and after a month you just buy out the lease if you were planning on purchasing anyways.
I bought my MB on a 3 yr lease last December & received $7500 off MSRP. The car is not on the IRS car rebate for $7500. Can I get another $7500 while filing my taxes this year?
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....
Solid analysis, thanks.
It's hard to design and sell such an advanced EV, even harder to sell and scale it and make profit. Only a handful of companies have done it so far with dozens trying to follow being fueled by investor money. It's not looking like Fisker is going to make it unless something big happens. Big cash infusion, double oil prices, government intervention, they're praying for a miracle. It can happen, but not holding my breath.
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I've only owned Hondas, Subarus, and Toyotas due to their incredible reliability. I've yet to step outside that trio, but given this sizzling deal, and my life experience with their garden tools and scissors, I feel confident making this purchase.
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Really stupid people
China is already way Way WAY ahead on building EV cars
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You're still out the acquisition fee and other small charges - so maybe you end up getting 6k incentive instead of $7500, but still that's nothing to sneeze at.
You basically lease the car, and after a month you just buy out the lease if you were planning on purchasing anyways.
This explains it better than I can
https://www.kiplinger.c
You're still out the acquisition fee and other small charges - so maybe you end up getting 6k incentive instead of $7500, but still that's nothing to sneeze at.
You basically lease the car, and after a month you just buy out the lease if you were planning on purchasing anyways.
This explains it better than I can
https://www.kiplinger.c
yep you never even see a Tesla Hilarious
post your stupid comment on Facebook
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....
It's hard to design and sell such an advanced EV, even harder to sell and scale it and make profit. Only a handful of companies have done it so far with dozens trying to follow being fueled by investor money. It's not looking like Fisker is going to make it unless something big happens. Big cash infusion, double oil prices, government intervention, they're praying for a miracle. It can happen, but not holding my breath.
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