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Old 10-26-2009, 10:29 PM   #1
Chromer
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Default Henrik Fisker explains how his company will be profitable

Via Autoblog Green
Quote:
PEV 2009: Henrik Fisker explains how his company will be profitable, plans for 2010



by Sebastian Blanco (RSS feed) on Oct 26th 2009 at 2:50PM

With his company about to announce its first U.S. plant in Delaware, CEO Henrik Fisker was in high spirits and high demand at last week's Business of Plugging In conference in Detroit. We were able to pull the busy man aside for a few minutes to ask for more information on how his company plans to make money will they really find 5,000+ people willing to pay $89,000 for the Karma plug-in hybrid? and how the unusual development path that the Karma has been on has been good for the small automaker. Get the details after the jump.


First things first. Getting a bunch of money from the government helps Fisker out a lot. Fisker said the $528 million DOE loan that Fisker secured means that Project Nina, the next car the company will build, a lower-cost plug-in hybrid, gets started about three years earlier than it would have otherwise happened.

On its own, though, Fisker will be profitable in 2011, he said, because Fisker has a different business model and structure than other automakers that need to sell a lot of cars to make money. Fisker said the way the Karma was developed, the company's low overhead and outsourcing the production of the company's first car are the three main reasons that his company can be profitable with low sales numbers.

While Fisker has figured out it can make money selling just 5,000 Karmas a year, the company is expecting more sales than that. Why? Because they have not yet begun to try and sell the car. In January, the company said it had 1,300 pre-orders. Now the number had grown to 1,500. Undaunted by only 200 more people signing up for his car in the last ten months, Fisker said that all the pre-orders have come without a dealer network or a big advertising push:
Quote:
It's very encouraging that we have that many people who already did that, with a new brand, a new car and for $87,000. Once we get the dealer network up and running, which should happen by the second quarter of next year, in terms of having showrooms and everything else, that puts everything in a completely different perspective because now you have people walking into a showroom and taking a test drive.
Thus far, the Karma has only been seen moving on its own power once in August at Laguna Seca and that first public drive was a chance to show people that the car is ready. Fisker is developing the Karma in a different way than the OEMs, Fisker said, and it doesn't give the company much to show off to the media as there is using the traditional model. Currently, there are seven prototypes running around without the skin and the Q-Drive powertrains are also being tested in some trucks. None of these mules are great for PR work. Things will change about the middle of next year, Fisker said, as the media will be invited to drive the first Karmas in May or June of 2010. Our inbox is open.

Listen to Fisker here (download here, 5 min. 2 MB):
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Old 10-27-2009, 08:15 AM   #2
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interesting. I do wonder if the pre-orders include cash or just a verbal agreement. It says they outsource all the production. Does that mean that parts and warranty work will be a devil to get done. I would think so. Time will tell.
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Old 11-07-2009, 01:15 PM   #3
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Default First Fisker Dealership opens

First Fisker dealership opens in LA, 120 pre-orders already taken

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First Fisker dealership opens in LA, 120 pre-orders already taken

by Sebastian Blanco (RSS feed) on Nov 7th 2009 at 11:46AM


Take an old Lexus dealership in Santa Monica, repurpose the showroom to display a Fisker Karma, invite a bunch of plug-in hybrid-loving locals over a grand opening and boom you've got yourself a fun night. This is what happened recently in Los Angeles, with about 200 people attending the invite-only grand opening of the Santa Monica Fisker dealership, the first. The car was popular with attendees, some of whom put down deposits once they saw the PHEV in person for the first time.

Dealer Mike Sullivan told Automotive News he already has 120 reservations, including many from impatient celebrities, for the Karma. "There's not a guy here who wants to be second in line. Two-thirds of the people waiting, you would recognize on the cover of a magazine. Yet, we all know it has to be a slow roll-out. It's a startup. There are always issues," he told AN.

Still, Sulllivan said he's confident he can sell up to 15 Karma and Karma S models a month once production starts next year. At least 32 Fisker dealerships are scheduled to open. If each is able to garner the same number of pre-orders as Sullivan's Santa Monica store and sells 15 cars a month a huge if that would account for 9,600 Karmas sold in the first year, well over the 7,500 that Fisker plans to sell in the U.S. (global sales are a hoped-for 15,000).
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Old 11-07-2009, 02:18 PM   #4
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What with the farce that the business end of Tesla has been, I'm sure most buyers are gun-shy. I know I wouldn't want my deposit tied up for a year or more. When these things start rolling out the factory though, I can see them selling 5000/year easily.
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Old 11-07-2009, 02:38 PM   #5
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Quote:
At least 32 Fisker dealerships are scheduled to open. If each is able to garner the same number of pre-orders as Sullivan's Santa Monica store and sells 15 cars a month – a huge if – that would account for 9,600 Karmas sold in the first year, well over the 7,500 that Fisker plans to sell in the U.S. (global sales are a hoped-for 15,000).
Not a snowball's chance in hell of the other dealers averaging anywhere near what the Santa Monica store does.
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Old 11-07-2009, 02:46 PM   #6
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Before investing, ask yourself how many start-up auto manufacturers have made money in the past 30 years...

Then ask yourself how many have actually sold a car on time, and lasted to support that car...

Then just give me your money. I've got a much better investment track record than auto manufacturers. Trust me.
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