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Morgan Stanley on EV Deflation

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Sean Callahan
(@seancallahan)
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Morgan Stanley’s Adam Jonas: “Remember earlier in 2022 when there was a 9 month wait for a $TSLA? Those days are long gone.” Will Fisker be forced to cut prices on Ocean One and Extreme models or other trims?

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Mag48
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I don't think Fiskers base trim pricing is unfair but maybe it brings pricing back to earth on seating materials/paint/wheels and some of the upgrade packages? 

I would love to be a fly on the wall in the meetings coming from this shakeup today... 


   
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BayouBob
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Posted by: @seancallahan

Morgan Stanley’s Adam Jonas: “Remember earlier in 2022 when there was a 9 month wait for a $TSLA? Those days are long gone.” Will Fisker be forced to cut prices on Ocean One and Extreme models or other trims?

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I think that anyone who bought a ONE with an eye toward getting a better value than a Y will now need to revisit. A Model Y performance, including the optional Enhanced Autopilot, upgraded wheels, upgraded paint, upgraded interior, is still under $65k. You can walk away from a $5k deposit and still break even by buying a Y with pretty much all the bells and whistles. 

I do not think that will happen all that much, but anyone buying an Extreme, where the walk-away is only $250 and the cost is much higher would be hard-pressed to stick with the Ocean. A comparable extreme is going to cost at least $10k more and, to be clear, it will have nothing close to the EAP package on the Tesla (which, unlike FSD, is absolutely fabulous). 

I sure hope we see some data from Fisker today on range. I know Henrik was hoping for a share price bump from it, but I think it is more important to create a support floor for the shares. 

 

 


   
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MTN Ranger
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I don't see the MSRP changing for any of the trim levels except possibly the Extreme.  The option packages do need to be brought down to Earth.

Fisker Ocean One | Mariana | MaliBlu | 22” F5 Black AirGliders | 7/9/22 Pre-order date
2018 Tesla Model 3 LR RWD | 2020 Volvo XC60 Inscription | 2015 Nissan Murano SL | 2012 Chevy Volt (no longer own)
Stock ownership disclosure: Long positions on FSR, QS, RIVN, SLDP, TSLA


   
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MTN Ranger
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@bayoubob I'm not leaving my One order for a Model Y, even if it dropped another $10k.  It just doesn't appeal to me.

Fisker Ocean One | Mariana | MaliBlu | 22” F5 Black AirGliders | 7/9/22 Pre-order date
2018 Tesla Model 3 LR RWD | 2020 Volvo XC60 Inscription | 2015 Nissan Murano SL | 2012 Chevy Volt (no longer own)
Stock ownership disclosure: Long positions on FSR, QS, RIVN, SLDP, TSLA


   
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BayouBob
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Posted by: @mtn-ranger

@bayoubob I'm not leaving my One order for a Model Y, even if it dropped another $10k.  It just doesn't appeal to me.

I totally get that. I feel the same about the iX and the Model X vs the Rivian. The other vehicles are just uninteresting to me. Both Model X and the BMW are excellent vehicles and they do many things as well or better, but they are not my cup o' tea. 

I was trying to specifically point to the "value buyer" on the Ocean (a lot of people on here characterized themselves as that, including me) who thought the Ocean value was significantly better than the Y and that was a significant motivator for choosing the Ocean. 

 


   
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