Fisker has published its business update for December 2023, and has revealed that it delivered 4,700 vehicles since sales began in June. That caused its stock market value to increase markedly in premarket trading.
The young electric vehicle manufacturer celebrated becoming a revenue-generating business in 2023, delivering its first vehicles to customers in the U.S. midway through the year. However, significant deliveries didn’t begin until September and October.
Sales continued to gain momentum throughout the year, with the company delivering over 300 percent more vehicles in the final quarter than in the third. It’s worth noting that the company made (not to be confused with delivered) a total of 10,142 vehicles in 2023, despite encountering two production slowdowns necessitated by cost-saving measures.
Read: Fisker Slowing Production This Month To Raise Working Capital
The majority of the vehicles it delivered were the Fisker Ocean One launch edition, which is priced at $68,999 in the U.S. Sales were also driven by the opening of new markets, like Canada and the U.K., in December. In all, Fisker is now selling in 12 market worldwide.
That growth led to interest from investors, and Fisker’s share price grew by around 10 percent today. However, Reuters reports that the company stock is still down 79 percent for the year, as confidence in EV startups was eroded by cooling sales and a price war launched by Tesla.
However, Fisker says that it has a plan to continue growing in 2024. It hopes to accelerate sales and deliveries by increasing the number of test-drive events in the U.S. and Europe, as it has noticed increased sales rates in locations where they have taken place previously.
The company says it has already expanded its physical footprint, opening four flagship locations in 2023. It says it is now working to address initial delivery delays prompted by a lack of real estate early on in the year. However, in the end, CEO Henrik Fisker says that he is proud of his company, and the fact that it managed to deliver 4,700 vehicles in 2023.
“This accomplishment represents substantial revenue, and as we accelerate our delivery pace in 2024, I am excited to see faster growth,” said Fisker. “We have a solid business with relatively low overhead and an award-winning vehicle that customers enjoy. I am looking forward to a year of new milestones and opportunities for the Fisker brand and everyone on our team.”
