We think daily average reservations for Fisker PEAR may have doubled from two catalysts since the Annual Shareholder Meeting in June.
Probably for good reason, PEAR reservation numbers have taken a back seat to the Ocean. It seems like a lot of people in the investor and analyst community only care about Fisker Ocean reservations. It makes complete sense until it doesn’t.
Right now, the Fisker Ocean is arguably the company’s flagship electric vehicle. We expect net Fisker Ocean reservations to top 58,000 when the company announces earnings on Wednesday. However, we think Fisker PEAR reservations could surprise to the upside.
PEAR Reservation History
Fisker PEAR reservations opened on February 15th, 2022. The company reported 1,500 PEAR reservations on February 25th. That means the company had daily average reservations of 150 reservations/day over the first 10 days.
The night before the Annual Shareholder Meeting on June 6th, Henrik said the company had hit 3,000 PEAR reservations. That means it took Fisker 100 days to double reservations from 1,500 to 3,000, which means daily average reservations were 15 reservations/day over that period of time.
However, the day of the Annual shareholder meeting on June 7th, Henrik said the company added an additional 200 reservations in 24 hours for a total of 3,200 PEAR reservations. That’s right, 200 reservations added in just one day.
Fisker PEAR catalysts
Last week, we conservatively said the company would announce 4,000 PEAR reservations on the upcoming earnings call. We used daily average reservations of the second batch of 1,500 reservations in our calculation. Days elapsed (55 days) multiplied by daily average reservations (15 reservations/day).
Initially, we thought the company should add roughly 825 new PEAR reservations since the Annual Shareholder Meeting on June 7th. That would put the company at 4,000 PEAR reservations as of today’s date on August 1st. That didn’t take into account any of the catalyst over the past 55 days.
However, as we’ve thought about it more over the past week, there have been a couple of significant catalysts since the Annual Shareholder Meeting in June. In fact, over the past 55 days, there have been two catalysts that will have helped increase daily average reservations for the Fisker PEAR. The main two that come to mind are the PEAR interior reveal and newly proposed Inflation Reduction Act.
The day after the Annual Shareholder Meeting, Henrik shared the PEAR’s unique interior design. This was a major catalyst for the company’s second electric vehicle in its lineup. That particular announcement garnered a lot of media attention for the $29,900 urban mobility device. This catalyst alone could have easily doubled the daily average reservation count for the PEAR.
Then, over the past week, we’ve had a lot of excitement around the proposed changes to the EV tax credit system. These proposed changes favor electric vehicles manufactured in North America that utilize various battery minerals from an approved list of countries. While nothing with this newly proposed Inflation Reduction Act is final, it may have sent more people running to reserve the Fisker PEAR electric vehicle over the past week. That’s because it will be built in Lordstown, Ohio by Foxconn. Although, we still need details on where minerals come from for Fisker batteries.
PEAR Reservation Surprise
As a result of these two pretty significant catalysts, we think Fisker will have seen a spike to its PEAR reservation totals.
These events justify an increase to the daily average reservation totals since the Annual Shareholder Meeting last month.
We’re going out on a limb, but we believe we could see a rise in PEAR reservations north of 5,000. That means daily average reservations for Fisker PEAR could have risen from 15 reservations/day to over 30 reservations/day. Maybe then, Fisker PEAR reservations will be put into the spotlight among investors and analysts.
Reserve Your Fisker Ocean
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