"Fisker Shifts Strategy with Dealer Partnerships Amid Sales Target Challenges"
Fisker Inc. (FSR) is adopting a Dealer Partnership model in North America to expand its sales and delivery network, aiming to establish around 100 dealer locations across North America and Europe. The company plans to integrate Fisker Oceans into existing dealerships by Q1 2024, with a focus on no-haggle pricing and larger market territories for dealers. This model is expected to help Fisker reach more customers, particularly those interested in electric vehicles, and improve the customer experience without requiring dealers to make costly facility changes. Despite this strategic move, Fisker currently holds a Zacks Rank #4 (Sell), with other auto companies like Volvo, NIO, and Toyota Motor Corporation ranking higher.