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Discussion Starter · #1 ·
Ok - well I haven't actually bought it, I have a deposit on it, financing all worked out, just waiting for LORMAX to do a PPI next week.

I have lusted after the Karma since I first saw a picture of it, and have followed the ups and downs (mostly downs) for 4 years, and with acute interest over the last year.

At first I did not buy the new model because I wanted to wait a year - first model years always have problems - no matter who you are - the unfortunate thing is that Fisker never really got past their first production year, and with the fiasco of A123 and Hurricane Sandy - well we all know what happened. On November 22 they filed BK.

So why now?

#1 - I think prices have dropped as far as they are likely to drop (I got mine in the mid/high $50's) - and some salesman's at some dealers heard about the BK - and really don't understand the consequences.
#2 Richard Li - buying the company is great news. Youngest Son of the wealthiest Guy in Asia (And worth $4B himself) - he didn't buy the company for no reason.
#3 I believe The new Fisker Company (or whatever it will be called) will start producing the Karma again - the cars (and electric cars in general) have a market in Asia and particularly China. However the Atlantic and future cars are the future of the company.
#4 Fisker Automotive Burned thru over $1.3Billion dollars - on one hand this isn't a lot, the big companies spend this bringing a new model to market - but for a start up - with no history - it was a lot, and ultimately what failed them. They had too many industry car guys, and not enough internet start up guys - their cost structure was simply ridiculous - which leads to #5
#5 Richard Li - Just bought all the Fisker Automotove, all the IP, engineering, everything, and some inventory for the Karma, and Atlantic for a measly $33M. Now yes - it will obviously cost to start production again - but just think about the basis he starts from, and from all signs are that the Atlantic is almost ready for production (the largest unsecured creditor is BMW - $75M who were to supply the engine for the atlantic). And Richard Li isn't a old industry car guy, he is a investor - and will run the company from that perspective
#6 Warranty - there will never ever be any type of warranty for our cars - (interestingly Fisker valued this warranty work at $50m) - however if they get the supply chain back up and working - even if its to supply the Destino - that will be extremely helpful - while I am not sure how much the Atlantic and Karma overlap - the production of the atlantic will also be helpful.
#7 They have a plan - the BK filling have filed a budget it is clear from the budget that they plan on announcing some type of restructuring in February. (the budget goes thru february and their are lots of cost for consultants,etecera)
#8 Its a beautiful car
#9 I think that after some of the kinks have been worked out (and the car I am hopefully buying has 14,000 miles so I hope most of the kinks have been worked out) - that the car is reasonably reliable.
# 10 - Like Richard Li - I think I am into the car at a great basis (this is not a slight to anyone who paid $100K+ - if you knew then what you know now - you probably wouldn't have - and you were optimistic - ) granted his basis is the company is a **** of a lot better than mine comparatively - but at a price in the mid $50's I figure I could always part it out (**** the battery is worth - $15K) - or use it for what it truly is - a work of art - and place it in my garden.
 

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#6 Warranty - there will never ever be any type of warranty for our cars - (interestingly Fisker valued this warranty work at $50m) - however if they get the supply chain back up and working - even if its to supply the Destino - that will be extremely helpful - while I am not sure how much the Atlantic and Karma overlap - the production of the atlantic will also be helpful.
I doubt the new Fisker company would fail to reinstate a warranty. Without a warranty re-instated for our Karma's, the bad publicity will severely hurt any future Karma or even Nina sales. Who would buy a car from a resurrected company that previously screwed over its original vehicle purchasers? Besides, who would buy a $115k 2016 Karma (with no fully guaranteed longterm warranty) when they can buy the relatively same car (no warranty) as a relatively new 2012 for $55k? Not only that, but they do need all of us as repeat costumers.
 

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Discussion Starter · #4 ·
If they do re-instate the warranty it will be a act of charity. And I highly doubt it. It is clear that this is a liability that they intend to discharge. They put a value on it - $50m -

If they do - re-instate it - it will be an act of good will. And the company can use a lot of good will. So I hope they do - but it is not one of the reasons I am buying now.
 
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