10:35 am, June 5, 2024
EV Experts has agreed a new franchise agreement with Fisker which will see it represent the electric brand in the south of England.
The deal represents a significant landmark for the Surrey-based dealer as it looks to expand from offering its range of high-quality used EVs.
Boss Martin Miller has described the arrangement as a ‘traditional agency model’ and says the set up could have a major positive impact on the business.
The firm, which won Used EV Dealer of the Year at the 2023 Car Dealer Used Car Awards, is now planning to open a Fisker Service Centre on the south coast, as it looks to provide aftercare for its new partner.
The partnership comes despite months of financial headaches for Fisker, with several US reports claiming the firm was close to bankruptcy, back in March.
Miller insists he is going into the franchise agreement with his ‘eyes open’ to the possible collapse of the company and says he is being as open as he can be with customers.
Speaking exclusively to Car Dealer, Miller said: ‘It’s just a classic agency model and we just thought, actually, there’s a lot of BS talked about agency, but from what I can see, it’s quite good for us.
‘We’re doing as much as we can, as quick as we can. Given the financial situation they’re in, we’re making it very clear that we are active agents, they [the customers] make the payments to Fisker and the car gets delivered immediately.
‘We’re trying to be very clear that the car comes with a six year warranty however, given the current financial situation, the company may not be trading down the line, and we’re trying to be as open and honest about that as we can.’
He added: ‘In with a partner, we are going to open a Fisker Service Centre on the south coast, which I think is going to be a really important bit as well.
‘The way we position it to customers is that ultimately, a lot of the mechanical components in these cars are coming out of sub suppliers like Bosch so there will be a cottage industry that will keep these things going.
‘The other thing that we’ve been assured is that even if production were to run out, there are within Fisker a lot of parts that they have already.’
Earlier this year Fisker told investors it was ‘selecting its dealers based upon multiple criteria, including a dealer’s ability to deliver a high level of customer satisfaction’.
Miller told Car Dealer that Fisker’s franchise for the north of England will be based out of Northampton.
He added that, for EV Experts, the chance of partnering with the firm ‘makes a lot of sense’ and represents a ‘great opportunity’.
‘We’re selling cars that even at £60,000 were really good value and now at £43,000 could be considered a bit of a no brainer,’ he said.
‘We are going into this eyes wide open. I think there’s an interesting market. I think there are people who sometimes want to try something a bit different and hopefully that’s an audience that we can help.
‘The mix of new and used products makes a lot of sense – it has worked for a lot of businesses in our industry.
‘We’re open with Fisker, and they’re open with us. Obviously if someone walks in and looks at one of these and thinks it’s a bit of a scary proposition then I’ve got something like an Audi Q4 that I can offer right next to it.
‘I’m not going to throw that customer away. As a business opportunity it’s great for us.’
Miller’s wife, and co-founder of EV Experts, Estelle, was among the speakers at our Car Dealer Live conference earlier this year.
Speaking as part of our independent dealer panel, she explained how the company had survived ‘brutal’ price drops in the used EV market to come out even stronger.
You can read what she had to say here.
