Fisker slashes EV prices amid bankruptcy fears, Tesla faces bearish sentiment in Q1.

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EV maker slashes prices as it tries to avoid bankruptcy.

California-based electric vehicle startup Fisker slashed the prices of some of its vehicles as it fights to avoid bankruptcy after a potential deal with another automaker fell through.

The manufacturer’s suggested retail price for the 2023 Ocean electric SUV lineup in the U.S., which is equipped with Fisker’s 2024 Ocean OS software version 2.0, fell by tens of thousands of dollars.

Fisker lowered the MSRP for the 2023 Ocean Extreme trim from $61,499 to $37,499, the company said Wednesday. The 2023 Ultra trim will be priced at $34,999, down from $52,999, and the 2023 Sport will be priced at $24,999, down from $38,999, according to the automaker.

Let it all burn to the ground. Let the lesson that centrally planned markets never, ever f’ing work. Let the taxpayer grift finally come crashing down.

Tesla Bulls Turn Bearish As ‘Nightmare’ First Quarter Comes To An End.

Tesla (TSLA) bulls expect Q1 to be the first official disappointment of a difficult 2024 with the global EV giant heading toward a likely delivery miss. In addition, full-year earnings predictions have dropped 94 cents since the end of 2023. TSLA shares edged lower Thursday.

Wedbush Securities analyst Dan Ives, a longtime Tesla bull, cut his TSLA price target to 300, from 315, on Wednesday while calling the quarter a “nightmare” for Tesla. The analyst said he remains bullish on Tesla over the long term, despite “near-term dark storm demand clouds forming.”

Ives wrote Wednesday that when Tesla reports global deliveries next week, it won’t be a “moment of celebration for the bulls and instead be a rip the Band-Aid quarter for Tesla investors.”

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