Tales From The Cooler: Instant Karma Depreciation

Virgil Hilts
by Virgil Hilts
tales from the cooler instant karma depreciation

During all the turmoil facing hybrid automaker Fisker Automotive recently, from closing its doors to a possible resuscitation led by Bob Lutz, one thing has remained constant: the rapidly collapsing values of the Fisker Karma cars themselves.

It appears that Fisker dealers are starting to dump their new $102,000-plus MSRP Karmas through the auction network. According to auction giant Manheim, 23 Karmas were peddled on their blocks during the week ending May 22. The 15 that were brand new on MSOs sold for an average of $61,200 while 8 extremely low mileage pre-owned examples commanded an average of $57,600. Prior to Fisker’s announced closure, used Karmas were bringing an average of $79,000.

The independent dealers and wholesalers who purchased the vehicles thinking that a 40% discount off MSRP means they can turn them for a profit better hurry: Manheim projects Fisker wholesale values will drop to $28,400 by next May.

I have never considered buying a Karma but at that price, and if I have confidence in whatever dealer body or service arrangements are available next year, I might think about it. How about you?

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10 of 24 comments
  • FJ60LandCruiser FJ60LandCruiser on May 28, 2013

    Would have to agree with the others about gutting the eco garbage and putting a proper V8 into it. The weight savings by ditching all the batteries would probably turn this thing into a beast. I'm sure someone out there is already planning or has done a conversion like that.

    • See 5 previous
    • CarnotCycle CarnotCycle on May 29, 2013

      @CarnotCycle Hold on here, I never said pushrod motors suck. I actually like GM's LS series engines very, very much. For power-to-weight and thermodynamic efficiency they are competitive with anything that puts out remotely comparable power. But I'm talking about aesthetic factors here, and a Fisker Karma looks like a high-strung lithe Euro-trash thing, it should have a high-strung high-revvy engine to match.

  • JSF22 JSF22 on May 28, 2013

    Virgil, I would ask the question a little differently. Insteaad of, "Would you consider it?," I would be interested in knowing, "What would you have to be thinking?!" By the way, I'm neither an EV hater nor a Karma hater (I think the thing is gorgeous), but it is a kit car, made by a startup, that never had a service organization to speak of, that now will likely have NO service organization, and technology that nobody else will know how to fix, that will require software that nobody will have. I don't have 20 grand to throw away any more than I have 100 grand to throw away.

  • Kjb911 Kjb911 on May 28, 2013

    did anyone else notice on their website that scrolling over the tomorrow link for their future it shows a text box saying tomorrow never dies...someone has a sense of humor. Although my god the Surf is gorgeous my feeling is this is another gen y vehicle but we are not at the point to afford it...if a major car company could use a focus or versa and use only recycled materials while keeping the costs down your would have a hit with a lot of people my age

  • Oldyak Oldyak on May 29, 2013

    I hate to agree because I love the car but after watching Jay Leno`s review and noticing that the hood didn't close right,the trunk didn't close right you would have thought that Fisker would have brought their best....but maybe it was...