Fisker reduces U.S. price of Ocean Extreme car by $7,500

Fisker Inc.
FSR,
-2.57%
said Monday it’s cutting the price of its Fisker Ocean Extreme electric SUV by $7.500 to $61,499 from $68,999, effective immediately. The company said its margins will not be affected by moves because it’s hiking prices on two other cars. Customers who have already ordered or purchased the Fisker Ocean Extreme will get a $7,500 price adjustment, the car maker said. Fisker Chief Executive Henrik Fisker said, “It’s essential that Fisker responds to competitive realities” in the electric-vehicle market. Fisker is increasing prices starting on Nov. 6 for the Fisker Ocean Ultra to $52,999 from $49,999 and increasing the price of its Sport model to $38,999 from $37,499. Fisker stock was down 1.5% in premarket trading on Monday.