Used 2012 Fisker Karma Prices Take a Plunge
- Some 2012 Fisker Karmas, the luxury plug-in hybrid vehicles that sold new for around $100,000, are now selling used for as little as $50,000.
- John O'Dell, Edmunds senior editor specializing in environmental trends and technology, says there's not much doubt that "people are nervous about the future of the company."
- The plunge in sales prices is likely tied to the company's recent troubles, including a production halt.
ANAHEIM, California — Some 2012 Fisker Karmas, the luxury plug-in hybrid vehicles that sold new for around $100,000, are now selling used for as little as $50,000.
Although online asking prices and eBay "Buy It Now" prices are hovering around $60,000 to $80,000, indications are that the cars are actually selling for about half of what they cost new. One recent eBay listing for a 2012 Karma received a top bid of $45,100 and was not sold because it failed to meet its minimum reserve.
It seems that as the fortunes of Fisker Automotive continue to plummet, sales of its vehicles are headed downward, as well.
Clearly, there is cause for concern. With only about 2,500 Karmas sold by just 45 dealerships, the operation was not high-volume to begin with. And now that the company appears to be spiraling toward bankruptcy, there will likely be little support available for the complex, technologically advanced vehicles in the future. So it's not surprising that demand for used Karmas is low.
John O'Dell, Edmunds senior editor specializing in environmental trends and technology, says there's not much doubt that "people are nervous about the future of the company."
"There might be some collector value for the cars," says O'Dell. "Maybe serial numbers one to ten will have some cachet."
Production of Karmas was halted in mid-2012. In March 2013, company founder Henrik Fisker resigned as CEO because of disagreements with other executives over business strategy. Early in April the company dismissed three-quarters of its workforce, which triggered a class-action lawsuit. Then, later last month, Henrik Fisker was vigorously grilled in a Senate hearing investigating $192 million in government loans to the EV manufacturer.
Edmunds says: Early adopters of new technology, like the advanced systems in the 2012 Fisker Karma, are always at risk, sometimes reaping tremendous rewards, but often being shocked at the results.