/Fisker Posts Strong Financial Results

Fisker Posts Strong Financial Results

2012 fisker karma at Fisker Posts Strong Financial Results

Well, this is what happens when you have a customer base mostly including celebrities and rich Beverly Hills residents. You could be in deep technical and managerial troubles, and yet turn in big revenue. We’re talking about Fisker, who despite all the problems with Karma’s reliability issues and recalls and Atlantic production delay, announced they’ve generated over $100 million in revenue in the first four months of 2012.

That is pretty strong results for a car maker like Karma. That 100 mil is the gross profit they’ve banked for delivering 1000 vehicles to customers in the US and Europe. In the first few months of 2012, Fisker has continued to raise private equity investment to fund its expansion plans, securing $174 million of additional private financing since the start of the year. The latest funding has lifted the overall financing beyond $1 billion since the start of the company in 2007.

So it’s fair to say they know what they’re doing. And as for the  problems, well, everybody has them, and anyway, it’s natural to run into some obstacles when you are making a new class of car no one has tried before.

Fisker is now trying to expand its market beyond Beverly Hills, and is looking at the Middle East as a great potential market for their high-end Karma.

Tom LaSorda, Chief Executive Officer of Fisker Automotive, said: “We are encouraged by solid demand for the Karma, our unique extended-range luxury model. Pending completion of investment sourcing, we are poised to press ahead with further market expansion and development of our higher volume model, the Fisker Atlantic.”

(Founder / Chief Editor / Journalist) – Arman is the original founder of Motorward.com, which he kept until August 2009. Currently Arman is our chief editor and is held responsible for a large part of the news we publish.