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Discussion Starter · #1 ·
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
 

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Michael said:
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
The warranty is with Fisker. The dealer is their agent, and gets paid to make warranty repairs.

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.
 

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dennis said:
The warranty is with Fisker. The dealer is their agent, and gets paid to make warranty repairs.

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
 

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Discussion Starter · #4 ·
The thing is my dealer said dont worry, we will support the 4 year warranty if anything happens.
 

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Michael said:
The thing is my dealer said dont worry, we will support the 4 year warranty if anything happens.
This is a joke, right? If not I would recommend getting that in writing.
 

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Michael said:
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
You're asking a loooot of questions lately. ;)

Did you already order your car (in Sweden I believe it is) or do you still have to make up your mind about whether to take the leap of faith?
 

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Discussion Starter · #7 ·
No joke but If I now order a karma I will let them put it in writing.
 

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Michael said:
The thing is my dealer said dont worry, we will support the 4 year warranty if anything happens.
My dealer is doing exactly that for his Saab customers. Fisker not going anywhere tomorrow so enjoy your car and stop generating bad Karma by speculating on the future :)
 

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Discussion Starter · #9 ·
Dutch I havent order it yet. I will decide after the geneva show. But If fisker hasn´t fix some of the serious bugs by then I will probably order something else
 

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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.
 

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Anybody know how many Deloreans were made? No problem finding parts for them today. I'd imagine the same thing would happen to Fisker.
Cheers,
 

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Sigurd said:
Anybody know how many Deloreans were made? No problem finding parts for them today. I'd imagine the same thing would happen to Fisker.
Cheers,
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.

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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ffcars said:
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.
...
I hope Fisker makes it because I love the car. Time will see.
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.

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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ffcars said:
Sigurd said:
Anybody know how many Deloreans were made? No problem finding parts for them today. I'd imagine the same thing would happen to Fisker.
Cheers,
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.

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".
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/
 

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Michael said:
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
Let it be known that Fisker Automotive is now in better shape than they have ever been.

PS. Saw one one a hwy in Minneapolis today. Gave it the thumbs up! I LOVE the Karma!!!!!!!!
 

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plugitin said:
Michael said:
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
Let it be known that Fisker Automotive is now in better shape than they have ever been.

PS. Saw one one a hwy in Minneapolis today. Gave it the thumbs up! I LOVE the Karma!!!!!!!!
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.
 

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MArkansas said:
plugitin said:
Michael said:
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
Let it be known that Fisker Automotive is now in better shape than they have ever been.

PS. Saw one one a hwy in Minneapolis today. Gave it the thumbs up! I LOVE the Karma!!!!!!!!
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.
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.

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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LonePalmBJ said:
MArkansas said:
plugitin said:
Michael said:
What happens to the warranty if fisker goes bust.

The dealer should take the warranty but will they if fisker should go bust?
Let it be known that Fisker Automotive is now in better shape than they have ever been.

PS. Saw one one a hwy in Minneapolis today. Gave it the thumbs up! I LOVE the Karma!!!!!!!!
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.
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.

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.
No doom and gloom intended! Simply stating the facts. I'm the ultimate optimist, I'm all in, paid in full and eagerly awaiting the Don Juan to dock on the 23rd
 

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Discussion Starter · #19 ·
600 persons sounds much to me for not producing a car themself. I guess some of them work with starting up the nina factory.

The plan to outsource the production to valmet I think was an good idea.
 

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Michael said:
The plan to outsource the production to valmet I think was an good idea.
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.

-- Fab.
 
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