EV Startup Fisker Embraces Dealership Model To Boost Sales - What's On The Cards?
Portfolio Pulse from Shivani Kumaresan
Fisker Inc (NYSE:FSR) is developing a Dealer Partnership model in North America and a hybrid model in Europe to expand its sales, delivery, and test drive network. The company plans to add up to 50 dealer partners in the U.S. and Canada, and a similar number in Europe in 2023. This strategy is part of Fisker's asset light business model aimed at scaling up for the acceleration of Fisker Ocean deliveries and future models. Fisker produced 10,142 vehicles and delivered about 4,700 in 2023. FSR shares dropped by 1% to $1.4750.
January 04, 2024 | 2:59 pm
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Fisker Inc is implementing a dealership model to enhance its sales and distribution network, which could lead to increased sales and brand presence. The company has plans to expand its dealer network significantly in 2023.
The dealership model is likely to increase Fisker's market penetration and sales volume, which could positively impact the stock price in the short term. The expansion plan is significant and aligns with the company's growth strategy. However, the actual impact will depend on the execution of this strategy and market reception.
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IMPORTANCE 80
RELEVANCE 100