Anyone received their 30 day notification yet?

[Rudolph]

I suspect we’re gonna experience more supplier issues, no cash flow as they can’t build the parts. Working capital from the banks inflated because of the increasing interest rate.

I’m slightly pleased to delay delivery as I’m not sure how far the used market is going to fall over the next few months.

* * * * *
Used market will remain solid imo since the very /extreme delivery times for new cars do not falter but increase........

 

[DerTheDer]

Im about one beer away from pulling my FE deposit and going to a company that has their shit together. This is pathetic. BTW I received not a single email that the others have pulled.

 

[Tonyshepp]

* * * * *
Used market will remain solid imo since the very /extreme delivery times for new cars do not falter but increase........

Maybe in the Netherlands but the car market in the UK is fuelled by PCPs dependent on good interest rates.

 

[Cachaco131]

* * * * *
Used market will remain solid imo since the very /extreme delivery times for new cars do not falter but increase........

But people are so levered that they may rethink car purchases . I was reading an WSJ article about the average US car loan (36-37k) and average monthly payment (1k). I was shocked. I may be off on the figures but that's what I recall.

I wouldn't be surprised if a lot of folks finance Porsches and the like. Which IMO is crazy (if the reason for financing is because of insufficient resources, not if folks can get better returns elsewhere).

 

[idleuser]

But people are so levered that they may rethink car purchases . I was reading an WSJ article about the average US car loan (36-37k) and average monthly payment (1k). I was shocked. I may be off on the figures but that's what I recall.

I wouldn't be surprised if a lot of folks finance Porsches and the like. Which IMO is crazy (if the reason for financing is because of insufficient resources, not if folks can get better returns elsewhere).

It's even worse than you imagine. The average car sold is now at a whopping 47k with a 1k payment in USA.

 

[Tonyshepp]

But people are so levered that they may rethink car purchases . I was reading an WSJ article about the average US car loan (36-37k) and average monthly payment (1k). I was shocked. I may be off on the figures but that's what I recall.

I wouldn't be surprised if a lot of folks finance Porsches and the like. Which IMO is crazy (if the reason for financing is because of insufficient resources, not if folks can get better returns elsewhere).

I read that over 90% of Porsches sold in the Uk are on pcp, or leasing.

 

[Rudolph]

Maybe in the Netherlands but the car market in the UK is fuelled by PCPs dependent on good interest rates.

* * * * *

When will used car prices drop in 2022? Why are UK secondhand cars so expensive and will costs start to fall?​

By Matt Allan, 6th Sep 2022
Used car prices in the UK have soared to unprecedented levels in recent months, adding to the growing pressure on household budgets.

This is why used car prices are soaring in 2022 and when then might drop

As secondhand car values continue to rise we look at the reasons behind the increase and ask the experts when prices might start to fall again

www.nationalworld.com

Regards, Ruud

 

[VTECMatt]

In the U.K. I’d be uncomfortable relying on part ex at the moment, there is a steady flow of new cars available. Interest rates on used cars will continue to increase and thus push price down as people can’t afford them or new. There are plenty of 2nd hand cars available to chose from at all levels.

 

[emiraspain]

I'm still not 100% about the car so still waiting for test drive.
If i was 100% at this point I'd wait 'happily' til Easter.
After all its winter now, so no real fun to be had!

not unless you find Mrs santa claus in a good mood...and willing to ditch mr santa claus.....

 

[Twin Cam]

* * * * *

When will used car prices drop in 2022? Why are UK secondhand cars so expensive and will costs start to fall?​

By Matt Allan, 6th Sep 2022
Used car prices in the UK have soared to unprecedented levels in recent months, adding to the growing pressure on household budgets.

This is why used car prices are soaring in 2022 and when then might drop

As secondhand car values continue to rise we look at the reasons behind the increase and ask the experts when prices might start to fall again

www.nationalworld.com

Regards, Ruud

Peaked and on the way down, in the UK anyway

 

[Cachaco131]

It's even worse than you imagine. The average car sold is now at a whopping 47k with a 1k payment in USA.

How much do entry level new cars cost nowadays? 47k sounds like a nice car! Now...Americans are known for living well beyond their means.

 

[Scruff111S]

Just received this .

Yes, I have received this aswell.

I'm still not 100% about the car so still waiting for test drive.
If i was 100% at this point I'd wait 'happily' til Easter.
After all its winter now, so no real fun to be had!

Same here Leonard. When I do eventually drive my Emira home, it will be going straight into the garage for a few months hibernation till the weather gets warmer and dryer.

 

[TomE]

Does anyone know of anyone who isn’t a YouTuber or x-F1 driver who has taken delivery of an Emira? I signed up July 22 but feel no closer today of getting one than I did a year ago.

The only customer deliveries so far have been in Europe and that's less than 20 cars. Roughly half haven't actually been handed over from the dealer to the customer, either due to PDI issues or not having paperwork from Lotus to enable registration. I've only seen evidence of 3 being driven away by the customer.

 

[Hobiedick]

Yes, I have received this aswell.

Same here Leonard. When I do eventually drive my Emira home, it will be going straight into the garage for a few months hibernation till the weather gets warmer and dryer.

You are assuming you get it before April 2023!!!

 

[TomE]

from the email..

"Please be assured this is not a change of sequence but just a slowdown in the pace of our production ramp up. "
yes as they have already CHANGED the sequence of production unfairly, so why would they now change it back again to how it was, to restore the balance of power... haha
It IS AT LEAST A BETTER EMAIL than most of the others, but its not at all clear when they see things as normalising as I guess they still simply dont know.

Maybe I'm being over-sensitive, but the comment about not changing the sequence seems like they're mindful this topic has been raised before.

As we all know, the reality is they've already changed the sequence and will continue to do so, both between countries and amongst the UK customers.

 

[Scruff111S]

The only customer deliveries so far have been in Europe and that's less than 20 cars. Roughly half haven't actually been handed over from the dealer to the customer, either due to PDI issues or not having paperwork from Lotus to enable registration. I've only seen evidence of 3 being driven away by the customer.

I have to say Tom, i am somewhat confused. On Wednesday i called LCS to ask how my order was progressing. I was told by the nice lady it would be introduced to the Chapman Production Centre on Thursday for its 12 hour circuit of said facility. Then when my car reaches the end of the line and gets to see daylight for the first time, i would be receiving, i assume, the check out email somtime next week. With estimated delivery first or second week in November. Only to receive on Friday the order update email from Lotus advising us of delays. Any thoughts?

 

[Scruff111S]

You are assuming you get it before April 2023!!!

Yes, sorry Leonard, rush of blood to the head. I was forgetting we are dealing with Lotus here, and not a communicative efficient company.

 

[Scruff111S]

You are assuming you get it before April 2023!!!

Sorry, miss read you as Leonard.

 

[Markc]

I have to say Tom, i am somewhat confused. On Wednesday i called LCS to ask how my order was progressing. I was told by the nice lady it would be introduced to the Chapman Production Centre on Thursday for its 12 hour circuit of said facility. Then when my car reaches the end of the line and gets to see daylight for the first time, i would be receiving, i assume, the check out email somtime next week. With estimated delivery first or second week in November. Only to receive on Friday the order update email from Lotus advising us of delays. Any thoughts?

I can’t recall, have you had your check out email?

 

[Mistral]

The only customer deliveries so far have been in Europe and that's less than 20 cars. Roughly half haven't actually been handed over from the dealer to the customer, either due to PDI issues or not having paperwork from Lotus to enable registration. I've only seen evidence of 3 being driven away by the customer.

The internal operations at Hethel which can ship cars to Europe, but can't email the documentation to go with them beggars belief.