EV-maker Fisker slashes SUV price in bid to boost demand but warns of 2024 cost increases

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Fisker, the California-based maker of luxury electric vehicles, revealed price changes Monday to its lineup of the all-electric Ocean SUV in an effort to draw more demand to its more expensive trim before raising costs next year of its more affordable options.

, the California-based maker of luxury electric vehicles, revealed price changes Monday to its lineup of the all-electric Ocean SUV in an effort to draw more demand to its more expensive trim before raising costs next year of its more affordable options.“We want our customers to have greater access to the Ocean and to be able to take advantage of its exciting combination of innovative features, striking design, sustainable materials and class-leading range,” Mr. Fisker said in a statement.

Across the EV industry, prices are down nearly 20% this year as competitors look to take on Tesla’s cheaper sticker prices and convert more owners of gas-powered vehicles amid lower-than-expected consumer demand. The average sales price for an EV was $53,469 in July, down from more than $61,000 in January, according to Kelley Blue Book.

EVs accounted for 9.1% of all new light-duty vehicle sales made in the second quarter of this year, or just under 355,000 EVs, according to an analysis released last month by auto industry lobbying group Alliance for Automotive Innovation. That’s up from 8.6% in Q1 and is up from 6.6% in Q2 of 2022.

 

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