Fisker has drastically reduced prices for its Ocean SUV in Canada by nearly 40%, just under two weeks after initiating similar price cuts in the US. The price cuts come after the company revealed it was close to bankruptcy and suspending production, sending shares in the fledging automaker tumbling.
According to an update to Fisker’s Canadian website on Monday, the price of the Ocean Extreme is now $48,799. That is a massive $31,000 (-38.8%) drop from the regular price of $79,999. The discount only applies to 2023 model year Ocean Extreme SUVs sitting in existing inventory, of which there appear to be dozens across the country, and according to the website, ready and available to ship in as little as 4 days.
The Canadian market only received 2023 Ocean Extreme and Ocean One (Launch Edition) SUVs, the latter of which is still regularly priced at $90,264.
If you are considering purchasing a heavily discount Ocean Extreme, be aware that the EV is not listed on Transport’s Canada’s iZEV rebate eligible vehicles.
There are of course other worries, like whether the company will be around for much longer to provide warranty and service work. After a difficult 2023 which saw the company produce more than twice as many vehicles as it was able to sell, Fisker revealed it was in a dire financial situation and was unlikely to be able to continue operating without a significant investment.
There was hope however as Fisker said it was in negotiations with a major automaker, which turned out to be Nissan, for a potential deal, but those talks eventually fell through. Not long after the company announced it was halting production.
These price cuts are part of a broader effort to liquidate the large amount of its inventory. In late March Fisker slashed prices on its 2023 inventory in the US, dropping the entry-point into the Ocean lineup all the way down to just $24,999 for the Sport edition, a $14,000 (-36%) drop compared to its regular pricing. The biggest price cut went to the Ocean Extreme, dropping $24,000 (-39%) to $37,499.
