Fisker says $30 million in cars destroyed by Sandy in N.J. port

[ne_one]

Fisker says $30 million in cars destroyed by Sandy in N.J. port
Automotive News
November 7, 2012

Fisker Automotive lost more than $30 million worth of luxury cars when a shipment of Karma plug-in hybrids was flooded during Superstorm Sandy last week.

More than 300 Karma cars, which each start around $100,000, were destroyed at a New Jersey port during the storm, Fisker spokesman Roger Ormisher said on Tuesday.

The cars were insured and Fisker expects "no impact from a business or a financial point of view," he said, adding that Fisker does not expect any problems with meeting U.S. demand.

The 300 Karma plug-in hybrids were among the more than 10,000 vehicles damaged during the storm at Port Newark, Ormisher said, citing details he received from port officials.

Full article at link.

[Lowboy]

In other news shipping documents show Fisker sent 300 cars to Port Newark 5 days before the storm hit............

All those salt water damaged cars should be crushed on the spot before leaving the holding lot. We all know some of them will make it back into the system be it legally or illegally.

[germeezy1]

Interesting that they anticipate no problems meeting demand sans 300 cars which I am sure is a notable portion of their production.

[rozz]

Bad Karma?

[Motors Man]

Bad Karma?

Oh Rozz.......HAHAHAHA!

[kevinahcc20]

I trust they gathered all of their inventory & placed them at the closest spot to the water...think of it as an insurance carrier financed inventory reduction.

[ZRock]

Hyundai Motor Co.'s U.S. unit lost 400 vehicles, said Lori Scholz, a company spokeswoman in Costa Mesa, Calif.

Only two of the carmaker's dealers in the New York region were still closed as of Tuesday, she said.

Kia Motors Corp., a Hyundai affiliate, has about 200 vehicles "damaged beyond repair," said Scott McKee, a spokesman for the company's U.S. unit in Irvine, Calif.

So it was probably really more like 300, and 150?

[spd98]

One of them caught fire and the media tried to make something of it.

[germeezy1]

So it was probably really more like 300, and 150?

Well Hyundai could use a revenue stream to pay for it's pending legal battles.

[PHAT-JAY]

this is like a repost...but anyway the ones that caught fire were un-attended, and were plugged in during the flood, causing a short then fire...no one to blame here but Sandy....still cant wait to get a flooded/salvage one at auction for a 1/3 of the cost, then pust a LS3. or better yet LT1 in it...

[germeezy1]

this is like a repost...but anyway the ones that caught fire were un-attended, and were plugged in during the flood, causing a short then fire...no one to blame here but Sandy....still cant wait to get a flooded/salvage one at auction for a 1/3 of the cost, then pust a LS3. or better yet LT1 in it...

Unfortunately the battery is an integral part of the structure, and it of course serves no purpose after it's been water logged.

[tripowergto]

Insurance check = only Fisker profit ever?

[spd98]

Unfortunately the battery is an integral part of the structure, and it of course serves no purpose after it's been water logged.

The fire wasn't the result of the battery at all. Fisker sent people to investigate and determined that the PCM actually shorted an caught fire. The media has forgot to report that there have been hundreds of normal car fires in the fllooded areas from pretty much the same thing.

[johnstarnes]

Why did they not move them inland?

[EcoBustier69]

Why did they not move them inland?

They will get far more income from an insurance claim then from highly discounted sales. The only loser will be the dealers.

This might help float the company another 6 months before bankrupcy inevitably hits.