FANATEC Share price tanks again and puts out the begging bowl!
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- čas přidán 24. 04. 2024
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Exploring the latest circumstances and woes of Fanatec. Leading up to this for months, has been customer emails ignored, customers waiting months for orders, incomplete customer orders, Fanatec cancelling Black Friday discounted orders; and more, has plagued this beleaguered business. And now the firing of the founder from his position of CEO. And a share price that has plummeted over 90% in a year. Is there worse to come?
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#Simracing #fanatec - Hry
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This is how it ends when you don't listen to customers and don't deliver sold products to them.
Absolutely! Being arrogant and ignorant to your customers will put you out of business!
I’ll invest a £1 if they answer the f….ing phone
Hahaha Love it!
2 shares!!
I just cancelled my order from them, bought a wheel and adapter for my base but they kept pushing the date, and i just wrote to them they just cancel my order because i dont wanna wait any longer on it.
Now you will have to wait to get your money back.
@@mementomori4972 got it back under 48 hours after it got cancelled.
@@mementomori4972 no i got it under 48 hpurs after
I think not allowing other distributors to sell their products is what's bringing them undone. Logitech can be bought in many shops which makes it easier for customers.
Fanatec should pull out of all sponsorship deals immediately. Seems like the Fanatec Circus 🎪 can finally close up and move on out! It was inevitable, and seeing how many other players in the game have passed them up.
Yeah that would be one of the first costs I would ditch as well, everyone knows them anyhow by now.
The best thing you can do to help fanatec is to buy their products, because then your money is in the company without receiving any products.
Not true if you buy gear that is actually in stock.
Buy into an ecosystem that might cease to exist? Not happening 😑
I dont have any fanatec gear any longer. My only purchase from them the original csl with loadcell brake pedals which were awesome for the price i paid. However, despite going through a glorious time for companies like this in covid to capitalise on people doing hobbies at home, how on earth did they manage to so spectacularly mess it all up.
Now with sim magic and moza on the scene at that price point and quality, i dont see a way back for them. Sad but they messed so many customers about and its kind of whats deserved. They probably spent 100x more on marketing than sorting their quality control and distribution.
Got to feel for the fanatec staff.
Im not sure if the offerings from the other newer brands would really be affecting them in my opinion as their dominance in having the licensing for playsation consoles in itself has already demolished the majority of market share against any of thoier competitors. ONly a company as big as them were able to even negoqiate a fee with sony for the licensing, I'm not sure how much but I'm sure they paid a bomb to have it.. They were in another league all together...
Thank you for explaining this. I hope they can turn it around, but I’m not sad I went with Moza instead of Fanatec.
It also seems like a classic case of badly managed expansion. The organisation wasn't prepared for it and the finances didn't support the huge costs inherent therein.
Many companies have failed through expanding too quickly, even if they has healthy order books and good products
If it only takes 23 or 25 million euros to bail out this company. That's pennies for a private investor. The biggest problem is whether they think this is a viable investment.
T.J himself alone is capable of bailing out the company if he wants to, the family definitely have the moeny if they want to pump in capital to save the business, I don't think they really need any investors help if it really comes to the wire for them...
Thats to meet the immediate margin call. Look at the balance sheets, there’s a lot more debt.
There is only one option to save Fanatec and is to be absorved by Simagic or Moza, and unless behind this companies there is a secret powerful investor group this is not going to happen. The rest of companies are too little to make an investment so big and the sim racing market is not big enough for an external investor to go all in. As much as we like sim racing there is no more space for new investment and the sim racing boom already happened so no further growth (at least to justify this type of action).
Fanatec bring the joy of sim racing to everyone and thanks for this but this is all, during more than 5 years they played as monopoly, no caring for cutomers and not investing a penny. Then the sim racing boom happened and they thought that only with the name they could do all the work they avoided during years. Perfect example to study in schools of how not to do business.
Corsair or Logitech.
Also, one of the shitty logistics out there. They basically did all the opposite compared to a good logistics
Crazy to think they could go out of business.
Oh sure, they're selling stuff but not delivering, in my case at least (and surely hundreds of others). They just emailed me yesterday saying that the order has been returned to their warehouse, basically the same reply I had back in December. They are just doing their best to drag the time of deliveries, if they do in fact intend to deliver which I am now seriously doubting if I ever get my order.
Now I'm glad I went with Moza instead ^^
This seems like a classic economy of scale issue. Fanatec were sitting pretty at their level but the decision to launch an expansion program and borrow large sums of money at the worst possible time ie. just before interest rates shot up etc. now sees them in an impossible situation, where they are probably now struggling to even service the interest on their loans/debt.
Add to that the expansion made their supply chain less reliable for a prolonged period and to top it off, they couldn't even launch their new product properly (or on time) due to Sony's issues with licensing caused by the threat of EU legislation.
As a Fanatec user I hope they manage to survive this, especially as I have never had an issue with them and like you said, it is thanks to them and the CSL DD especially that we now have such great competition in the direct drive sim racing market.
on point.
I wonder if there could be a liquidation of existing products if they go under??
Maybe a chance to get some cheap gear. Unless they’re so far back with filling orders that they don’t have a backlog of product.
The last thing you want is buy into a product that won't receive any softwares updates anymore. If a new title is released, chances are that there won't be anyone around to update the drivers and make it compatible.
You realize that gear would not get updates and be useless
@@philrob4468 I play mostly old games bro they aren’t getting updates that would brick a wheelbase. I was mostly meaning pedals or some wheel rims anyways.
My issue is why does Fanatec sponsor so much in sim racing still when they struggle to get product in to the hands of customers, seemed like things was getting back on track then I started seeing again people complaining of waiting weeks then only getting part orders
i think not to underestimate the volume that Fanatec is selling even currently , I just placed and order for items 2 days back, only about an hour apart and the invoiced number jumped by over a 100 invoices issued! Presuming their invoices are issued in running numbers, there's obviosly still a lot of Sim racers buying Fanatec... i know I just did.. lol
Many thanks , I had no idea! Hope they turn things around & customers don't loose orders etc. Like you said they have been pioneers & healthy competition keeps the sim world ticking.
no live chat response, no phone calls answered, a lifetime waiting for email response. Many bad reviews. Not a care given by Fanatec. this company is a dead man walking.
I have to hurry up getting the Fanatec wheels and hubs i want then just to make sure.
What will happen to my fanatec gear drivers. Will they realease them open source so community can create software and updates?
Generally no. Regardless if they go under or not, it’s the IP so they won’t release it in the hope someone buys them out even if it’s 10 years later.
Maybe it wasn't a great idea to renew their f1 sponorship after all
They were the only ones introducing new hardware but not releasing specs!
They were selling prototypes! In my view!
Stock, is now 0.27 EUR
Moza here I come!
How could just switching the guy in charge (CEO) solve all of Fanatec´s problems?! I can´t imagine that anyone might have thought that. Ever. But of course, it´s a nice premise to work with. Please, next time when you decide to tackle such a serious and complex topic, provide more facts than just the share price... I enjoy all your other content, though. 👍
Looks like my next wheelbase will be asetek.
After 6 months, I was sincerely thinking that the orders problem was solved by now (especially the one dating back to black friday and December). But judging by the comments, it seems like it's still the same mess as it was 2 months ago...
Wasted a month waiting for my race 2 ready combo. 😢
Here in the US, I've ordered Simagic combo from Simshop and get free overnight shipping. Ordered on a Tue. Received on Thur. Sold all my Fanatec products because I saw no innovation or care any more. Guess I'm not the only one looking for better value and service.
I feel that maybe grabbing 10k worth of shares might be worth it. Worth the risk maybe?
Before sim racing i would see fanatec everywhere, they were the company to go with. I'm talking more than a decade ago i knew about them. Finally got into sim racing less than a year ago, and now everyone is telling me to stay away from them. Sadly I did and got another brand DD (glad i did because hope isnt going to help solve my warranty issues or firmware issues if they tank) I dont have any product experience with them, so i cant say anything bad. I do hope we can make this the next "gamestop" when they are facing certain doom, and we all say f-you investors and save Fanatec (Hopefully they learn their lesson)
Their finished. Unless a Logitech buys them out. But, Logitech wouldn't do it if they don't see it as profitable. No other company wants to buy into their debt and product problems.
Actually both Logitech or Thrustmaster would make good 'parents' I think, as they would get their hands on some innovative tech that's made in metal :P
I'll BUY that for a DOLLAR!!!😁
I'm so glad I never bought from them.
Price is about the same as pre pandemic.
There in a hole.... They need us to buy products to get out of it, but their products are too expensive to risk buying their products in their situation....
There f'd
FYI: It's "they're in a hole" & "they're F'd!" :-D
@@itzanopinion hopefully Corsair will be a good thing 😄
damn
No I think Fanatec will survive this, they may get bought out and taken private...but they will survive.
Fanatec need to get back to making products for their customers instead of getting into sponsorships in games or esport events. These sponsorships only promote fanatec, it does not encourage people to buy fanatec products.
Yeah, looks like screwing over and gaslighting your customers, doesn't pay off in the long run. Who would have thought.
I've told this a year ago and people attack me and put laughter on me.
it's pretty sad loosing all the worth i've invest but Fanatec fuckt me up with all the gear.
They don't care so get them down and out.
They didn't care about product range, employees, customers money, service. Almost everything they messed up.
all they did is paid for Fanatec Banner in a game , where their wheels aren't compatible 100%
this ceo is a joke. first he did is order internet page to separate ps pc xbox .
the new qr2 wasn't available since release.
90% DD's are squeezing louder than a fan
This production is probably made in Auiguren Prisoners .
I don't care and want to kick fanatec while they laying on the floor.
The main business was converting cars for disabled years ago in germany. Even this consumers they shit on.
Rest in Peace Fucktek
But still they continue to churn out CZcams shorts like nothing's wrong... Because that'll help... 🤔 Lol
Fully deserved! Fanatec is pure garbage, I don't feel sorry for them due to their scummy practices..
🤣
Its game over for fanatec. Their products are over priced, unreliable, and poor design and build quality. Doesnt matter if they have big ecosystem. Not worth an investment.
😂
Overpriced? They are one of the most reasonable priced. And offer a range of products for different budgets. I have the DD2 and the build quality is outstanding. Plus two wheels that again are outstanding.
Far from game over. If they don’t survive it will be a bad thing for sim racers overall. They have pioneered so much. First to release DD at a mid range price for example. People need to stop spreading dirt to give them a fighting chance of recovering.
lol you guys are acting like this company hasn't existed almost 30 years and wasn't the entry for MANY sim racers... They are quiet literally how and why our sim racing community started when it did, they've broken down barriers and carved a path for all these other companies to follow.. to shit on them now is absolutely absurd. It's like you guys can't wait to see them go under... think about all the people that not only own fantec product but the families that are employees... talking like no other company has ever gone through turmoil, I would LOVE to see anyone of you people complaining start and run that company for that long with the same success. Crying from your mom's basement doesn't do much.
They brought us peasants parts made out of metal so it didn't look like a toy, affordable load cell and DD!
Releasing a high-end wheel and base with a cheap plastic QR system that will surely break, is the cynical attitude which got them in this mess. Feck them.
Im not sure your understanding of finance is correct.
Companies are driven by cashflows so all is required is reduce costs to bring the cashflow budget back into the black. However commentary like this is likley to to speed up their demise if the consumer stop buying thinking they will not rrcieve their products. At 67c the company is now a ptime target for a takeover.
Personally i think your commentary is reckless.