After a somewhat turbulent news cycle, Fisker (NYSE: FSR) has revealed its latest production and business strategy in an effort to regain favor with the stock market and its investors. In early November, Fisker’s stock dropped, plummeting over 24 percent due to production rate cuts and lower-than-expected deliveries. One of the main challenges is that Fisker is a newer company in a competitive EV market; any misstep draws attention.

Fortunately, more recent news from Fisker presents the brand and its manufacturing plan in a brighter light, with a commitment to ramp up production of Ocean SUVs, expedited deliveries to customers living near Fisker dealers/warehouses, and increased staffing to support manufacturing and delivery efforts. The focus will also be on ramping up production, particularly for the popular Ocean SUVs, a strategic move for Fisker.

The market responded positively to this news, with Fisker even seeing a small stock boost. Investors also seem satisfied with the revamped strategy to get more Fisker-made EVs on the road in 2024, so the future seems promising, at least for now, for the U.S. auto company.

To provide the most up-to-date and accurate information possible, the data used to compile this article was sourced from manufacturer websites including Fisker’s official press releases and authoritative sites like NASDAQ and Reuters.

• Poor stock market performance has prompted Fisker to announce new production and marketing strategies.

After its turbulent November stock market performance, Fisker has unveiled a new strategy, primarily centered around the Ocean SUV, to restore the EV brand’s image through 2024. A crucial part of this improved manufacturing and delivery strategy is the expansion of the Fisker workforce, particularly in collaboration with multiple transportation logistics partners, to expedite model deliveries to customers. Previously, extended wait times and discontent among Fisker drivers had plagued the company.

Furthermore, Fisker aims to increase its Ocean Extreme SUV production, its most successful offering this year. After all, the Ocean is a top SUV for 2024, making it a logical priority for the brand. With established SUV giants like Tesla, Fisker faces an uphill battle, both in the public eye and behind the scenes, to carve out a niche in the North American/global market.

As recently as mid-November, Fisker delivered 107 models to customers across the U.S., generating $7.5 million in revenue. This provided a glimmer of hope for investors and shareholders in the brand, heading into the holiday season, and if the brand can sustain this momentum, its stock market presence and performance should see significant growth.

“Fisker Direct” Could Save The Brand In 2024

A standout element of the new Fisker strategy is the enhancement of its ‘Fisker Direct’ delivery service. This entails the delivery of new Ocean models to customers by Fisker employees, particularly those within 60 miles of a Fisker fulfillment location, aiming for even swifter deliveries. Fisker has established a task force to expand its workforce, hasten SUV deliveries, and plan for future models and releases. With high-end models like the Ronin Super GT set to hit the market soon, Fisker requires a substantial workforce.

Fisker Archives 107 Car Deliveries In A Single Day

• Fisker recently delivered 107 vehicles in a single day, totaling $7.5 million.

Fisker recently announced the delivery of 107 vehicles in a single day. This feat holds significance for the company as this delivery generated an expected $7.5 million in revenue, providing a ray of hope after a string of negative press, and raising optimism among investors and current shareholders.

The more Fisker models the brand produces, sells, and delivers, the greater its revenue. The Ocean SUV has been the model with the highest deliveries and production, with further growth expected in 2024.

If Fisker fails to produce enough cars or experiences significant delays, its revenue decreases, resulting in declining stock prices and reduced brand engagement. It’s worth noting that Fisker’s Chairman and CEO, Henrik Fisker, expressed confidence in the strategy’s success, anticipating accelerated delivery rates.

Can Fisker Step It Up For Good?

One of the persistent challenges for Fisker has been production delays and inadequate staffing to ensure timely deliveries. As per the CEO’s recent statements, we anticipate improved coordination throughout Fisker’s manufacturing and delivery processes, increased model turnover, and competitive pricing on Ocean Extreme models in 2024. If the brand maintains this momentum, a surge in stock value and, more importantly, improved annual revenue reports, should follow.

The Ocean Extreme Could Save Fisker’s Stock Value

While news of a price reduction for the Ocean Extreme emerged in late October, this represents a significant boost for the brand’s PR and customer acquisition leading into Q1 of 2024. The Fisker Ocean Extreme SUV is now available for $61,500, reduced from the initial $69,000 price tag.

This development bodes well for investors as a price reduction typically results in increased sales or, at the very least, heightened interest in an EV or conventional model. The electric SUV segment has witnessed significant growth, with models like the Model Y, Ford Mach-E, and Chevy Equinox EV dominating the market. With a more affordable Fisker vehicle, the company is in a stronger position and has an opportunity to make headway in a comparatively challenging sector for the years 2023 and 2024. Everyone appreciates a price reduction!

Fisker’s 100 Cars Per Day Goal: A Bang Or Bust?

• In the next couple of years, Fisker hopes to deliver 100 cars per day to customers.

Fisker aims to ship/deliver 100 vehicles per day in the coming years, necessitating a significant expansion of its workforce, warehouses, and factories. While achieving this daily delivery target may take a few months of streamlining, particularly from a logistical standpoint, the brand has experienced increased visibility among consumers this year. Hopefully, this translates to improved stock market performance and revenue reports. With the Fisker Ocean competing with the Tesla Model Y for consumer attention, this goal of 100 vehicles per day might need to be exceeded.

Fisker Is On Track To Produce 13,000 To 17,000 Vehicles This Year

Although lower than its initial projection of 20,000-23,000 manufactured cars, Fisker should reach a minimum of 13,000 units by the end of 2023. Alongside enhancements and additional workforce/delivery personnel, the EV company has laid the groundwork for a more productive (and successful) 2024. No EV company achieves overnight success, which will remain the market’s response to newcomers. Fisker has ambitious yet achievable goals, and we wish them luck.