Fisker Announces Ocean SUV Price Adjustments – Here's What's Changing
Portfolio Pulse from Anan Ashraf
Fisker Inc (NYSE:FSR) has announced price adjustments for its Ocean SUV models. The high-end Ocean Extreme trim will now cost $7,500 less, while the Ocean Ultra and Sport trims will see price increases of $3,000 and $1,500 respectively. The new pricing will take effect from November 6. The price adjustments come as Fisker aims to stay competitive in the rapidly growing EV market, with the Ocean Extreme trim now priced close to Tesla Inc's (NASDAQ:TSLA) Model Y Performance.
October 24, 2023 | 4:24 am
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NEGATIVE IMPACT
Fisker's price adjustments could potentially impact Tesla's sales, as the Ocean Extreme trim is now priced close to Tesla's Model Y Performance.
With Fisker's Ocean Extreme trim now priced close to Tesla's Model Y Performance, some potential Tesla customers might opt for the Fisker model instead, potentially impacting Tesla's sales and stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Fisker's price adjustments for its Ocean SUV models could potentially attract more customers, potentially boosting sales and positively impacting its stock price.
The price cut for the high-end Ocean Extreme trim makes it more competitive, potentially attracting more customers. The price increases for the Ocean Ultra and Sport trims could potentially increase revenue per unit sold. Both these factors could have a positive impact on Fisker's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100