The 2011 Fisker Karma is still on track to reach U.S. dealers in March or April, according to the company.
But there's one new piece of info: The price of the extended-range electric sports sedan has gone up. Again.
Originally announced in 2008 at a price of $80,000, the Karma fairly quickly went up to $87,900 and stayed there. Now, just before launch, 'final pricing' has risen another $8,000.
Based on an e-mail forwarded to us last night and originally sent by Fisker of Santa Monica, the final pricing for the 2011 Fisker Karma is:
•Eco Standard: $95,900
•Eco Sport: $103,900
•Eco Chic: $108,900
There's also a mandatory destination charge of $950 on top of those prices.
Karmas are eligible for a $7,500 Federal income-tax credit as well as a variety of state and local incentives. In California, the car may qualify for a $5,000 purchase rebate on top of the Federal allowance.
Options for the 2011 Fisker Karma run as follows:
•Tri-Tone Leather Interior: $2,200
•Diamond Dust Paint: $3,000
•"Special Paint": $3,000
The Fisker Karma order guide shows all the available colors, as well as various other choices for future owners to make.
According to the dealer's e-mail, test drives will be available in late February or early March.
Fisker exhibited its prototype Karma at each of its dealers in a lengthy U.S. national tour last summer.
The company hasn't released final specifications, but the 2011 Karma is expected to travel 50 miles using only electricity from the battery. After its lithium-ion battery pack is depleted, a range-extending 2.0-liter direct-injected four-cylinder GM Ecotec engine switches on.
The engine turns a generator that produces electricity to operate the drive motors for a further 250 miles of range.The rear wheels are powered by a pair of 150-kilowatt electric motors. Fisker has quoted a 0-to-62-mph time of less than 6 seconds, and a maximum speed of more than 125 miles per hour.
In 2008, pricing was originally estimated to be around $80,000. This estimate was then more clearly defined in 2009 as an MSRP of $87,900 and has now increased another $8,000 to the final pricing of $95,900 for the EcoStandard model.
While the increased pricing may force some deposit holders to reconsider, it should be noted that the Karma will arrive with more standard feature content than originally planned.
The Karma’s solar roof, the largest continuous and most highly curved solar roof in a passenger car, was planned to be a $5,000 option. The roof is now standard.
With an MSRP of $95,900 the Karma is within 10% of the originally announced MSRP of $87,900 announced in 2009 – an incremental change over the course of two years.
At $88,400 after federal tax incentives, the Karma is within $500 of its originally announced MSRP of $87,900. Local incentives offer additional savings.
The Karma starts $1,400 less than a Porsche Panamera S (both 400hp) after $7500 federal tax incentives are applied. Local incentives offer additional savings. Additionally, the Karma is significantly more efficient and will be much more exclusive.
The Karma starts $19,500 less than a similarly-equipped Tesla Roadster — $20,500 less when you include destination charges.
For comparison, a BMW 7-Series ActiveHybrid retails for € 105.900 in Europe while in the U.S. it's priced at $102,300. That pricing difference is fairly standard for luxury cars in the U.S. market vs. Europe.brian said:Wow, it's going to be expensive in Europe. Isn't the exchange rate like 1.3 dollars to the EUR? So the EcoSport would be like $150k after VAT? Now I feel like I'm getting a pretty good deal here in the US at only around $104k after taxes.
-Brian
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Delaware Online said:Brad Galer, a pharmaceutical executive from West Chester, Pa., is faced with a dilemma.
He is weighing whether to buy a soon-to-be-released $96,000 hybrid sedan from startup carmaker Fisker Automotive or to sink that money into a bottling line for his winery.
A high-class headache, to be sure.
But Fisker's recent move to add $8,000 to the base price of the Karma, a sports sedan and Fisker's first car, is helping Galer settle on a move: he will buy the bottling line next year and put off the Fisker purchase until 2012.
"I think [the price] would definitely sway my decision," said Galer, who has placed a deposit on a new Karma with Wilmington's Union Park Automotive Group, Delaware's only Fisker dealer. "It would definitely sway my wife's decision."
Fisker raised some eyebrows recently by hiking the base price of the Karma from about $87,900 to $95,900, a 9 percent increase.
Fully loaded models will go for as much as $109,850, including a $950 destination fee. (The highest price is for the EcoChic version of the Karma, which includes recycled suede and paint for the fancy environmentalist.) Federal tax incentives should reduce the purchase price by $7,500.
The Karma is expected to reach early customers in March. More than 3,000 people have put down deposits to reserve a car, which is powered by a rechargeable lithium-ion battery and can run on electricity alone for 50 miles after a full charge.
Contractor Valmet Automotive is building the first Karmas in Finland. Valmet is scheduled to turn out 15,000 Karmas a year once it reaches full production early next year. Fisker has said that production of the Karma will move to Delaware by 2016.
In late 2012, Fisker plans to begin production of its second line of plug-in hybrids -- the Project Nina -- in Delaware. Using state incentives, the company spent $20 million over the summer to buy General Motors' old Boxwood Road assembly facility near Newport. A Nina sedan is expected to be priced around $47,000.
Fisker spokesman Russell Datz played down concerns about the Karma's new price tag.
"A 9 percent increase is really very small, and we don't expect that to be a factor with our more than 3,000 depositors," he said by e-mail.
Plus, a solar roof is now included as a standard feature, Datz said. That would have cost $5,000 as an option, he said.
Jim Ursomarso, vice president of Union Park in Wilmington, does not expect the high price to chase away customers.
Ursomarso said the dealership has begun aggressively marketing the car recently, sending out brochures to well-heeled customers.
A handful of people have already put down deposits with Union Park -- typically $5,000 -- to reserve a Karma.
"If you look at comparable cars ... it's actually a very attractive price point," Ursomarso said.
Not everyone is so confident.
Pike Research electric-car analyst John Gartner said the new price more closely aligns Fisker's Karma with established models like Mercedes S-class sedans and SL-class roadsters, which start north of $90,000.
"Most people who are going to spend $80,000-plus have more wiggle room when they go to make a purchase," Gartner said. "But still, with an extra $10,000 ... now they're moving up into a higher class."
He also said consumers in other countries -- particularly in China, where Fisker is making a big push -- may be turned off by the higher price.
"It will affect the buying decisions much more in a place like China. There's just a smaller number of people who have that financial flexibility," Gartner said. "For some, it might be pushing it out of their reach."
Cars in Europe are usually pretty expensive, mainly due to VAT. With European cars, like the BMW 5-series, the difference is less big.brian said:Wow, it's going to be expensive in Europe. Isn't the exchange rate like 1.3 dollars to the EUR? So the EcoSport would be like $150k after VAT? Now I feel like I'm getting a pretty good deal here in the US at only around $104k after taxes.
-Brian
Same mixed feelings here. It is nice to be driving a unique car, of which there aren't many around. But I think my wish for Fisker to succeed as a green car company is the stronger feeling. I do hope they can beat the odds and are here to stay. Although I guess they will have to form an alliance with one of the bigger players to secure a bright future (like Tesla has aleady done with Mercedes and Toyota).brian said:Part of me is actually happy about the price increase because:
1) a percentage of people will cancel their reservations, ergo, I'll get mine sooner!
2) they'll sell fewer which means mine will be more rare.
But I really want Fisker to succeed, and at the old price it was a great deal for the car - it would have been a Tesla killer for sure. But now it's going to be a harder sell for a lot of people, so it does concern me a bit.
-Brian
From a November Reuters article:brian said:Agreed. Their only chance for long-term survival is to partner up with someone bigger. In the short term, however, they'll probably do an IPO to raise more cash, but inevitably they need a partner.
-Brian
Considering the fact that Fisker already has an existing partnership with GM for the 2.0L range-extender, I'd wager that GM must be a top contender for any future partnership with a larger OEM.Reuters said:Fisker also said that he had some discussions with larger automakers about a "strategic partnership."
He did not name the other companies involved in those discussions, but said he would be open to considering partners from Europe, Asia or the United States.
Such a deal could parallel the tie-up between start-up Tesla Motors (TSLA.O) and industry-leader Toyota Motor Corp (7203.T) announced earlier this year.
"A strategic partnership with somebody, that's a possibility," Fisker said. "We have had talks with several car companies about that, but it has to be not only the right timing but the right fit."
Yeah, the more I talk with people about this the more I'm worried for Fisker at the new price point. Even with the tax credit this is still a $100k+ car and that could spell trouble for them. I'm still going to get one, but I'm right on the edge, so if anything happens to cause the price to go up farther I may bail out.100MPGinMD said:I considered the $87,500 price point to be at the top end of what I am willing to spend for a car (even an amazing one like the Karma). So I have to admit that Fisker lost me with this price increase. Best wishes to everyone else!
It's still not too late for Fisker to lock in those of us on this list with some concession in "options pricing." It doesn't have to be big, just something. Think about it ... for every order they save, they could provide a $5K concession to 20 people on the list. Saving 50 cancellations for a car now well over $100K and it pays for small concessions to the first 1000 list holders.brian said:Yeah, the more I talk with people about this the more I'm worried for Fisker at the new price point. Even with the tax credit this is still a $100k+ car and that could spell trouble for them. I'm still going to get one, but I'm right on the edge, so if anything happens to cause the price to go up farther I may bail out.100MPGinMD said:I considered the $87,500 price point to be at the top end of what I am willing to spend for a car (even an amazing one like the Karma). So I have to admit that Fisker lost me with this price increase. Best wishes to everyone else!
The only way Fisker can survive in that price range is if the reviews of the car are outstandingly good, but honestly I'm not sure how good it could really be at 5000lbs and a slow 0-60 of 5.9 seconds (slower with passengers and a full tank of gas).
