Elon Musk has delivered a price cut for the top-spec Fisker Ocean, reducing the cost of an Extreme model by $7,500. Yeah, you read that right. Tesla’s boss might not have announced the Ocean price re-alignment, but he’s certainly been instrumental in bringing it about.
Because rival automakers have had no option but to slash their own retail prices in response to Tesla’s own brutal cuts and a fear about a general slowdown in the EV market. The changes announced by Fisker today bring the price of an Ocean Extreme down from $68,999 to $61,499, and anyone already holding an order will also befit from the price adjustment even if their SUV has already gone into production.
“It is essential that Fisker responds to competitive realities in the rapidly growing EV market,” Chairman and CEO Henrik Fisker said, alluding to recent changes in Tesla’s pricing structure that brought the costs of a Model Y down to as little as $36,490, and the bonkers-quick Performance to less than $45k, after the maximum available tax credit reduction of $7,500 is factored in. The Ocean is built in Austria and doesn’t currently qualify for tax credits.
Related: A Lightly Used Fisker Ocean One SUV Has Already Popped Up For Sale
At the other end of the Ocean trim scale, the price of the entry-level Ocean Sport and mid-spec Ocean Ultra are both being increased slightly, but not until November 6. After that date the Sport’s price will increase by $1,500 to $38,999 and the Ultra’s sticker swells by $3k to $52,999.
“We are very confident in the continued demand for the Ocean and we expect the Sport and Ultra models to be the highest sellers starting in 2024,” Henrik Fisker said. “We expect our overall margins will be unaffected because higher Sport and Ultra pricing, combined with our cost-reduction initiatives and lower input prices, will support the anticipated trajectory of our profits.”
The Sport uses a cheap LPF battery and has an estimated range of 231 miles (371 km), whereas the Ultra gets a more sophisticated NMC battery that gives a far more impressive 351-mile (565 km) range. The Extreme goes even further on a full charge, offering 360 miles (579 km) from its 106 kWh pack.
