Emiras advertised for sale on other sites

[Tonyshepp]

Shadow grey car on autotrader at 100k, and one of the blue ones now reduced to 86.5!

I was speaking to a friend in the trade about car prices in general. It's proving much more difficult to sell cars on as used buyers in the main are looking at finance and with finance being so high the market is slowing down.
Dealers on Autotrader with a business account have access to see what the price was originally of the ad, the date of the ad and any subsequent revisions in pricing. As these Emira's are sticking I'd hazard a guess that no one wants to pay overs for a sports car in Winter.
Ive seen Aston Vantages reduced by 8k in 3 weeks due to the slowing of the market.

 

[grahamgreen]

Yours isn't the blue one in Bishop Auckland is it?

Nope i4 and didn’t buy to flip

 

[TomE]

Shadow grey car on autotrader at 100k, and one of the blue ones now reduced to 86.5!

That car was registered on 11 Nov so is one of the first 15 UK cars. Surprising that it's taken over a month to be advertised for sale - has only done 31 miles which is not much more than test and delivery mileage, but maybe delivery was delayed.

Shadow Grey is a rare colour and I've only seen one handover publicised, a Silverstone customer who got their car in the week before Christmas. Maybe it's that car.

Auto Trader UK - New and Used Cars For Sale

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[DJS]

The Emira seems to be a 5k over car at best, all them cars sitting close to 100k are going nowhere this winter. Tony you're right the car buyer looking for finance simply won't be able to afford the so called second hand Emira, second hand residuals will be much lower and interest rates much higher and with the car on overs it simply isn't doable.

Even the cash buyers won't touch 90 to 100k for this car, I know the looks would suggest otherwise but the Emira is a good 60-70k car as Lotus told us at the launch, trying to punch it around 100k its just not going to compete with the competitors its just dealers chancing their arm.

 

[digilotus]

It all depends on timing, local market conditions, supply and demand. Supply is painfully low and demand is still high given the deposit queues but is tempered by the time of year.

Buying any sports car in the UK or Europe now makes no sense if the car will be put in storage for 4-5 months unless you score a bargain.

 

[Tonyshepp]

The Emira seems to be a 5k over car at best, all them cars sitting close to 100k are going nowhere this winter. Tony you're right the car buyer looking for finance simply won't be able to afford the so called second hand Emira, second hand residuals will be much lower and interest rates much higher and with the car on overs it simply isn't doable.

Even the cash buyers won't touch 90 to 100k for this car, I know the looks would suggest otherwise but the Emira is a good 60-70k car as Lotus told us at the launch, trying to punch it around 100k its just not going to compete with the competitors its just dealers chancing their arm.

Spot on the with the 60-70k pricing. We all know that most dealers when traidng it put very little value on the options. Looking at my FE build there's only leather seats im interested in. The base I4 will be the best resale value - very interested to see how Lotus prices the base and options.

Unless you are mad passionately in love with the Emira having the luxury of time to see how the market pans out makes most sense. I have a day left to consider my options for checking out from my checkout email.

 

[DJS]

Dealers will be in no rush to lower the price I'm sure they will wait it out until the spring, speaking to Lotus they are confident of building 800 cars a quarter so that's 3,200 cars for 2023 worldwide (what happed to the 4,800 cars a year) Thats not a lot of cars worldwide and if that information is correct I would presume the Emira will hold its value.

3,200 cars in 2023 would mean a lot of unhappy customers worldwide, i'm not sure that number would cover the current UK orders alone.

 

[Tonyshepp]

Dealers will be in no rush to lower the price I'm sure they will wait it out until the spring, speaking to Lotus they are confident of building 800 cars a quarter so that's 3,200 cars for 2023 worldwide (what happed to the 4,800 cars a year) Thats not a lot of cars worldwide and if that information is correct I would presume the Emira will hold its value.

3,200 cars in 2023 would mean a lot of unhappy customers worldwide, i'm not sure that number would cover the current UK orders alone.

Just in time for another interest rate hike in February.
The market is governed by supply and demand, yes the demand is there but how many need finance? That's affecting demand for used/new cars.

 

[DJS]

Just in time for another interest rate hike in February.
The market is governed by supply and demand, yes the demand is there but how many need finance? That's affecting demand for used/new cars.

I can't speak on behalf of Emira buyers but speaking to my Porsche dealer 80% of all their cars are purchased on finance, that is now on a massive slow down. It seems there is a higher rate of cash buyers for the used market, not sure why that is.

 

[TomE]

You’d think people who had a strong interest in the Emira had already placed a deposit and, after all the delays, were probably prepared to wait for their slot to come up rather than pay £10-15k over list to get a car now. Some might get lucky and pick up a cancellation and jump forward 6-12 months.

But I also know all the UK dealers have long lists of people without deposits who are waiting to test drive. Some have over 1000 people on the list. Once those people start getting drives from Feb onwards we might start seeing some demand for used cars from people who don’t want to put down a deposit and wait until 2024 for a car.

 

[DJS]

I agree i'm just not sure if all the people on the test drive list will be willing to wait 2 years for a car. Its a shame Lotus are still selling it as a 60 week wait.

 

[Tonyshepp]

Well let's hope they increase the pricing for all new orders from 1st Jan so that any used market is boyuant.

 

[fatjase]

Nope i4 and didn’t buy to flip

Just wondered as someone I know mentioned the owner of the Bishop Auckland one was called Graham.

 

[fatjase]

Just in time for another interest rate hike in February.
The market is governed by supply and demand, yes the demand is there but how many need finance? That's affecting demand for used/new cars.

I've just been looking at swapping out my trusty 330d Xdrive estate for a used M340i / 540i / C43 / E53 / E63 Wagon and the dealer finance rates are ridiculous. 12.9% which 4 months ago was about 8.9%. I could of stretched to about £45k to avoid finance (mix of cash and trade in for the BMW) but have decided to wait it out as my current BMW does everything I need it to do and owes me nothing. I can really see the used market struggling at anything but the very top or very bottom end.
Hopefully for car dealers and manufacturers the global financial situation improves in 2023.

 

[Evotion]

Interest rates are, of course, a factor for affordability but if Lotus hit another major shortage issue and raise any prices in early 2023 then, come the Spring and better weather with people aspiring to own a beautiful sports cars, we could see Emira prices spiking up.

If you really, really want an Emira then I certainly would not sit around on your hands thinking you are going to ever get a bargain.

I am expecting my call 'soon' to start the payment process. Still not sure if I will finance any part of the car though I'd like to keep back some cash as I think I can do better than 7.9% or whatever it is.

 

[grahamgreen]

Just wondered as someone I know mentioned the owner of the Bishop Auckland one was called Graham.

Not me my friend let’s not start rumours or out cars will be taken off us too and I have been patiently waiting 18 months lol. Went to redline today and saw the Emira they had in (I didn’t go to see it by the way) although I’m told it’s an SOR

 

[digilotus]

LOTUS Emira 3.5 V6 First Edition, Petrol, ID: 3720671

LOTUS Emira 3.5 V6 First Edition, New car, Petrol, Manual, 50 Km, CHF 128'890, ID: 3720671

www.autolina.ch

One of the very few in Shadow.

 

[Tonyshepp]

LOTUS Emira 3.5 V6 First Edition, Petrol, ID: 3720671

LOTUS Emira 3.5 V6 First Edition, New car, Petrol, Manual, 50 Km, CHF 128'890, ID: 3720671

www.autolina.ch

One of the very few in Shadow.

Looks like a blue grey colour in those shots, looks well.

 

[TomE]

Another Seneca Blue car with delivery mileage. This is at £90k and in North Wales - some great roads for an extended test drive!

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www.autotrader.co.uk

 

[Dommo]

Another Seneca Blue car with delivery mileage. This is at £90k and in North Wales - some great roads for an extended test drive!

Auto Trader UK - New and Used Cars For Sale

Find your next car with Auto Trader UK, the official #1 site to buy and sell new and used cars. Over 400,000 cars online. Simple, easy, quick!

www.autotrader.co.uk

Could be the same one that was being sold by the private seller in Worcester - it looks the exact same spec