Fisker Automotive gets a big -- and much-needed -- endorsement from Roger Penske.
Fisker Automotive has garnered what could be taken as a significant endorsement from the legendary motorsports team owner and entrepreneur Roger Penske. His Penske Automotive Group has signed on to sell and service the battery-car start-up’s plug-in hybrid vehicles in Arizona and the surrounding region through Fisker of Scottsdale.
The addition of the PAG outlet in Scottsdale means Fisker now has 48 outlets in North America alone, and will soon be distributed for the first time in China and the Middle East, after signing new retail agreements in both regions, Fisker officials said.
“Penske Automotive Group is one of the most respected and successful auto retail companies in the world,” said Matthew Malfitano, Fisker’s director of North American operations.“Their support speaks volumes about Fisker’s market potential. Fisker is proud to be part of the Penske team and we look forward to a fruitful relationship.’
Roger Penske's auto group takes on the Fisker franchise at its Scotsdale store.
Dave Wallace, Penske area vice president, said, “Penske Automotive Group is excited to have Fisker of Arizona as the exclusive Fisker retailer in the region. Our research shows there is strong demand for clean, energy-efficient luxury cars. Fisker will make a fine addition to Penske’s portfolio of premium brands.”
The announcement by the Penske Automotive Group arguably couldn’t have come at a better time. Fisker has been hammered by a number of setbacks in recent months, including the recall of early Karma sedans equipped with defective batteries produced by supplier A123. The maker also had a major federal loan put on hold, forcing it to delay the launch of its second model, the Atlantic, by at least a year. And there is a federal investigation underway into the cause of a fire in the garage of a Texas Fisker Karma owner.
Fisker officials note the battery pack of that Karma was not damaged and have suggested there could be a suspicious cause to the fire. But it’s clear the maker needs to now focus on the positive.
The Fisker Karma was named “Luxury Car of the Year” by Top Gear magazine and Automobile magazine’s “Design of the Year.” It was also one of Time magazine’s 50 Best Inventions of 2011 and received a silver Edison Award for innovation. U.S. pricing starts at $103,000, not including a $7,500 federal income tax credit and other local incentives.
Founded in 2007, Irvine, California-based Fisker Automotive decided to focus on plug-in hybrids that would offer a dual powertrain combining the energy efficiency of a pure electric car with the range and freedom of a traditional car, giving drivers the option to either plug-in or fill-up.
As well as having 403 horsepower, the Karma sedan also gets more than twice the economy, or 54 miles per gallon equivalent, and creates about half the emissions — 169 grams of CO2 per mile — of competitive luxury cars, according to the U.S. Environmental Protection Agency.
Despite recalls and other start up difficulties, Fisker Automotive recently reported revenues had exceeded $100 million in the first four months of 2012 as it delivered 1,000 vehicles to customers in the U.S. and Europe.
“We are encouraged by solid demand for the Karma, our unique extended-range luxury model,” said Tom LaSorda, Fisker chief executive officer.