Fisker Ocean’s brutal depreciation: how a $69k EV SUV now sells for under $12k

The Fisker Ocean, a striking but troubled luxury electric SUV, has suffered one of the steepest depreciation hits in the EV segment since its 2023 launch. When new, the range topped out at $68,999 for the Extreme trim, while the base Sport model started at $38,999. By early 2024, as Fisker’s financial troubles deepened, prices were slashed to as low as $24,999 in a desperate liquidation push.

By mid-2025, used values had collapsed further: Kelley Blue Book data shows the Sport model now trades at roughly $8,125 as a trade-in or up to $10,750 in a private sale. The Extreme, once priced near $70,000, now fetches just $12,500 as a trade-in or $15,650 privately — a loss of over 82% and 78% respectively. Edmunds documented an even sharper drop: it bought a 2023 Ocean for nearly $70,000 and sold it in mid-2025 for just $10,000.

With fewer than 11,200 units produced before Fisker’s collapse, many were dumped into rideshare fleets, particularly in New York City where nearly 2,000 examples have been catalogued. Reliability issues plagued the Ocean from day one. Gremlins crippled electronics, while basic functions like acceleration and braking proved inconsistent.

Without a dealer network or spare parts pipeline, breakdowns often meant scrapping the vehicle. Even a viral YouTube repair showed how a $100 part could revive a bricked unit, but most owners lack such expertise. Despite the bargain-basement prices, the Ocean now faces stiff competition from more polished rivals like the Ford Mustang Mach-E, Chevrolet Blazer EV, and Hyundai Ioniq 5 — EVs that command higher resale values and offer better long-term ownership prospects.

For now, the Fisker Ocean remains a cautionary tale: a beautiful but broken EV that’s cheaper to abandon than to own.