Fisker's journey through financial turbulence has hit another bump, with a significant number of potential buyers withdrawing their reservations for the electric Ocean crossover. A recent leak suggests that Fisker is processing between 70 and 80 cancellations daily, translating to a staggering total of over 40,000 canceled reservations. This not only puts a dent in the company's sales outlook—halving its forecast—but also compels Fisker to issue refunds, amounting to an estimated $9 million, back to its customers.

These cancellations come at a time when Fisker is desperately trying to navigate through financial constraints, having halted production of the Ocean model to conserve funds and grappling with a growing inventory of unsold vehicles. In a bid to stimulate sales and liquidate its 2023 model inventory, Fisker dramatically reduced prices by up to $24,000 in March 2024, a move that may have influenced some customers to cancel their reservations in favor of purchasing immediately available, discounted models.

The situation is further complicated by Fisker's ambitious plans to expand its electric vehicle lineup, including the introduction of models such as the Alaska pickup, the PEAR city car, and the Ronin four-door convertible, despite the company's precarious financial position.

For those intrigued by the evolving landscape of electric vehicles and considering their options, Fisker's current predicament underscores the importance of choosing a stable and reliable brand. As the electric vehicle market continues to expand, potential buyers are encouraged to book a test drive with more established brands to ensure confidence in their investment.

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