Tesla reportedly suspends Fisker Ocean trade-ins

It appears that Tesla is no longer accepting Fisker Ocean trade-ins from customers. A screenshot of Tesla’s apparent notice that’s been shared online noted that the trade-in pause is temporary, and it was implemented partly due to uncertainties surrounding the electric vehicle startup. 

Followers of Fisker on the r/Fisker subreddit have noted that the walls seem to be closing in on the electric vehicle startup. Some have even observed that Fisker CEO Henrik Fisker has seemingly turned off comments on his personal Instagram page. Amidst these observations, r/Fisker member u/UxC4 shared a screenshot reportedly from Tesla which stated that no Fisker Ocean trade-ins would be allowed for now. 

Tesla Pauses All Fisker Ocean Trade-Ins
byu/UxC4 inFisker

Following is the apparent notice from Tesla about Fisker Ocean trade-ins. 

Immediate Pause on Accepting Fisker Ocean Trade-Ins

Effective immediately, we are temporarily suspending acceptance of Fisker Ocean trade-ins. This is due to significant market uncertainty on Fisker Ocean vehicles that have disrupted the expected values of these vehicles. 

We are closely monitoring available market data and will provide an update on next steps as soon as market stability returns and accurate information becomes available. 

BREAKING: @Tesla has suspended all Fisker Ocean Trade-Ins pic.twitter.com/KGLnzEzGzT

— Greggertruck (@greggertruck) March 28, 2024

Fisker is currently in rough waters, with recent reports stating that the company had lost millions of dollars worth of customer payments as it attempted to ramp vehicle deliveries. The missing payments reportedly included down payments and full payments for the Ocean, the company’s all-electric crossover SUV. Fisker also initiated massive price cuts for the Ocean, and Fisker stock has been delisted from the New York Stock Exchange. 

Unfortunately for the electric vehicle maker, recent reports have also suggested that a potential deal with a major automaker — which would have helped Fisker attain more funds to keep its operations going — has fallen through. The news came just a week after the company paused the production of the Ocean, its sole vehicle that’s being delivered to consumers today. 

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