Fisker loses $30M worth of cars in Hurricane Sandy


The Wall Street Journal is reporting that luxury brand Fisker Automotive lost more than $30 million worth of Karma plug-in hybrids when a shipment was flooded during Hurricane Sandy last week.

More than 300 Karmas, which retail for north of $100,000, were destroyed at a New Jersey port during the storm, Fisker spokesman Roger Ormisher told the paper on Tuesday.

Ormisher said the units were insured and Fisker expects “no impact from a business or a financial point of view.” He adding that the automaker does not expect any problems with meeting U.S. demand.

More than 10,000 vehicles were reportedly damaged during the storm at Port Newark according to published reports from port officials.

Toyota Motor Corp lost 4,500 cars at the port, said Jim Appleton, head of the New Jersey Coalition of Automotive Retailers. That figure has not been confirmed by Toyota.

According to reports, the 300 Karma cars destroyed by last week's floods were to be sent to U.S. dealers and not Canadian retailers.