warranty if fisker goes bust
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The warranty is with Fisker. The dealer is their agent, and gets paid to make warranty repairs.Michael said:
Personally, I think speculation about Fisker going bust on this forum is not helpful to the company. The sensationalist press already has that area covered.
Fisker has at least $200M in cash from the money they raised last quarter and is not in any near term danger of going bankrupt. I just wish they would share that information with the owners to quiet this concern.
dennis said:
Actually, I think it's a totally legitimate concern. I paid a lot for this car and there's a pretty reasonable (yet hopefully low) chance that Fisker won't make it, so it concerns me that I may have no way to repair this car before the warranty is out.
-Brian
Without knowing how much cash they have and their burn rate, it's hard to speculate on how financially secure they are. So I'm worried about this too.
It's not just about the warranty; it's about resale values, parts supply, tech support, etc.
The dealers won't be able to help anyone if they can't get parts and tech support. I know the dealers would do their best to help, but if they can't get parts, what can they do?
Dealers are under no obligation to honor the warranty. It's Fisker's problem.
If they were to file for bankruptcy protection, I would hope that they would do like Chrysler did and find a suitor who will step in and take over the company and honor the warranties. But you never know; they could just go under and disappear.
If they go under, who would buy our used cars? And what price would they pay?
If there are no parts, what happens if you have an accident? Without body parts, how do you fix it?
What happens if your command center goes out? How will you operate the car without a new one?
I hope Fisker makes it because I love the car. Time will see.
It's not just about the warranty; it's about resale values, parts supply, tech support, etc.
The dealers won't be able to help anyone if they can't get parts and tech support. I know the dealers would do their best to help, but if they can't get parts, what can they do?
Dealers are under no obligation to honor the warranty. It's Fisker's problem.
If they were to file for bankruptcy protection, I would hope that they would do like Chrysler did and find a suitor who will step in and take over the company and honor the warranties. But you never know; they could just go under and disappear.
If they go under, who would buy our used cars? And what price would they pay?
If there are no parts, what happens if you have an accident? Without body parts, how do you fix it?
What happens if your command center goes out? How will you operate the car without a new one?
I hope Fisker makes it because I love the car. Time will see.
There's a good reason why you can find Delorean parts. They made 9,000 cars and when they went under about 100 cars were waiting for production and a lot of extra parts in storage. I grew up in Columbus and remember a company called Consolidate (Big Lots) bought all the remaining cars and parts in the early 80's. They later sold the whole operation to someone else. I think a guy in Texas.Sigurd said:
About 2,000 or more cars have been involved in wrecks and were parted out.
The Delorean was less complicated and used off the shelf engine, tranny, fuel injection, etc. No need to OBD-II, complicated sensors, etc. With enough talent and money you could theoretically keep a Delorean running until "back to the future".
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It is because of concerns like these that I believe Henrik Fisker needs to communicate the company status to the owners. This could be done either by a letter, or better yet with an owner conference call. Without that communication we will all be left to speculation.ffcars said:
I have heard from a reliable person who is very close to the company that Fisker has over $200M in cash and is burning $10M per month. I sanity checked both numbers and they make sense as follows:
The $200M number is reasonable because they raised $243M in the second half of 2011, the last $110M in December.
The $10M number is reasonable because they have about 600 employees. $200K per year is often used as a rule of thumb for the fully burdened cost per employee. 600*$200K/12 = $10M.
Given that both of these numbers are anywhere close to reality, Fisker has plenty of time to fix any issues with the Karma and raise additional funds long before they are in danger of running out of cash.
So I am not worried about Fisker going bust. I am worried that concerns about their finances, flamed by media speculation, is dampening owner enthusiasm and impacting demand for the Karma.
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On the UK show Wheelers and Dealers, they had an episode on the DeLorean. Basically, DMC had ordered enough parts to build 30,000 cars, but only built around 9,000 or so. When the company went bust, an investor bought all the remaining parts and started to create "new" DeLoreans using "original" parts - i.e. all brand new parts for the 21,000 cars never built by DMC. The Texas-based investor also bought rights to the brand/names. They can be found here: http://delorean.com/ffcars said:
I watched Henrik tell a reporter two days ago that the co is "self sustaining and making a profit". Yesterday I find out that my customer care rep Arun had been laid off for the opposite reasons. Arun is the reason that I maintained my confidence and stayed the course. My inferno is allegedly at sea on the Don Juan. I tried the VIN tracking site and could not get it to work. Bad Karma.plugitin said:
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Managing your workforce/cashflow and being self-sustaining and profitable aren't mutually exclusive. From what I can tell the second tranche of the DOE loan payment was delayed months ago, and while Fisker is renegotiating the loan conditions and milestones with the DoE they have reduced their headcount to better manage cash flow. Fisker still has over 600 full time employees in the US, so I think the doom and gloom scenario you're painting may be a bit overstated.MArkansas said:
I feel badly for Arun if he was in fact layed off since by all accounts he was a good employee, but making hard choices is what good businesses do. I'm not privvy to any specific about who or why someone was let go, so I have no reason to second guess the company.
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Building a factory before producing their first car was one of the main reasons why DeLorean went spectacularly bust. Fisker's deal with Vlamet and others to be a fab-less car company was one of their best business strategies.Michael said:
-- Fab.
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