Fisker expands its dealer network with new partners in the US For Investing.com

Fisker expands its dealer network with new partners in the US For Investing.com


© Reuters.

LOS ANGELES – Fisker Inc. (NYSE: FSR), the American electric vehicle manufacturer, has announced the expansion of its dealer network by signing two new partners that will establish three new headquarters in the United States. The company’s Merchant Partnership model, which was established to improve customer experience and merchant operations, has already attracted a total of 12 partners in the US and Europe.

The new stores, Fisker Albany in New York, Fisker Jacksonville in Florida and Fisker Indianapolis in Indiana, are part of Fisker’s strategic shift from a direct sales to a dealer model. This transition is consistent with the resource-light business model and aims to facilitate the delivery of the Fisker Ocean SUV and future vehicle models.

Fisker’s dealer partnership model offers non-reciprocal pricing, where permitted, and focuses on providing customers with superior service. For businesses, this model promises wider market areas, which can help them maintain competitive prices without worrying about local competition. According to Fisker, this approach benefits customers, dealers and the company itself.

The interest of more than 250 dealers in North America and other regions in the Dealer Partnership structure underscores the growing demand for electric vehicles and the Fisker brand. The company currently offers the all-electric Ocean SUV, which starts at $38,999 and has an EPA-estimated range of up to 360 miles, positioning it as a class leader in range and sustainability.

Fisker emphasizes the sustainability features of the Ocean SUV, highlighting the use of recycled and bio-based materials, production in carbon-free materials and the integration of solar panels on the roof, which can add up to 1,500 miles of range per year. .

Henrik Fisker, President and CEO of Fisker, expressed enthusiasm for confident dealers in the sales potential of the Ocean SUV, citing its competitive nature and class-leading characteristics.

The announcement of the new dealer partnership is based on a press release from Fisker Inc.

InvestingPro Review

Given Fisker Inc.’s (NYSE: FSR ) expansion through its vendor partnership model, it’s important to consider the company’s financial health and market performance. Fisker’s market capitalization stands at $362.68 million, reflecting the company’s current market valuation. Despite the positive news about the expansion of retailers, Fisker operates with a heavy debt load and may have trouble meeting the interest payments on its debt, as indicated. InvestingPro Consulting. This may affect the company’s ability to maintain its marketing structure and long-term expansion plans.

From a performance perspective, Fisker stock has seen significant gains over the past week, with a total price return of 21.47%. However, this short-term gain contrasts with the long-term performance that has seen the stock fall significantly over the last year, with a total price return of -90.88%. This high volatility is characteristic of Fisker’s business model, which is another important point for potential investors to keep in mind.

From an operational point of view, analysts are predicting sales growth this year, which could be a positive sign for the company’s future revenue streams. However, it is important to note that Fisker is rapidly burning through cash, and with a negative gross margin of -44.55%, the company’s profitability remains a concern.

For those who like detailed analysis, there are 19 additional tips from InvestingPro who can provide more information on Fisker’s financial and operating prospects. To access these tips, use the coupon code PRONEWS24 to get an additional 10% discount on annual or semi-annual subscriptions for Pro and Pro+ programs.

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