Fisker Dealers Sound Off, Ford Strikes Back, Tesla Adapts

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

Tax day is exciting enough, but what’s better than starting the second half of the month on a Monday? Today we’re talking about how the remaining Fisker Dealers are feeling as well as Ford and Tesla’s tennis match.

Show Notes with links:

• Despite Fisker ongoing financial troubles and a significant drop in stock price, the few remaining dealers like Fisker Indianapolis and Fisker Albany are staying positive and continue selling the Ocean crossover.
  • Recent price cuts of nearly 40% on the Ocean model have spurred customer interest and sales, with Fisker Indianapolis reporting successful deliveries to out-of-state customers.
  • Remaining Dealers are hopeful for the future, citing the Ocean's affordability and positive customer feedback on the vehicle's performance and design.
  • Val Ranguelov, dealer principal at Fisker Albany in New York said, "As of now, we're still moving cars. Time will tell what happens. I love the car, it's very solid and very well-built. We just hope for the best."
  • Classic Fisker of Atlanta continues to list Ocean inventory online. However, other early partners like Mills Automotive Group and Ourisman Automotive Group are distancing themselves from Fisker, reflecting varied dealer confidence in the brand's future.

• The OG empire is striking back as Ford introduces a $1,500 "Tesla Competitive Conquest Bonus Cash" rebate specifically targeting Tesla owners for the purchase of an F-150 Lightning or Mustang Mach-E to boost their EV sales.
  • Any owner of a Tesla vehicle from 2008 or newer is eligible for this incentive, without the need to trade in their current vehicle.
  • Ford is offering substantial discounts across various trims of the F-150 Lightning up to $12,500 as part of a broader strategy to enhance its competitiveness in the EV market.
  • An entry-level Mach E starts around $38k with the added Tesla incentive cash
  • "This incentive is available through July 8 for both the 2024 and 2023 model years, as we aim to attract Tesla loyalists and expand our customer base
    
• Meanwhile, Tesla is deploying a dual effort of both slashing subscription prices and global layoffs in an effort to remain competitive as its Full Self-Driving subscription prices in half in the U.S. and Canada to $99 per month.
  • Simultaneously, Tesla has announced layoffs exceeding 10% of its global workforce, impacting potentially 14,000 employees as it aims to eliminate role duplications and prepare for future growth phases. This includes a reduction in production shifts and a strategic pause in some manufacturing locations.
  • Tesla is facing a rare year-over-year sales drop, particularly in China, where local EV makers are expanding rapidly.

Hosts: Paul J Daly and Kyle Mountsier
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