Emiras advertised for sale on other sites

[meccanisti]

Interest rates up, sportscar market down. Most of them are on the tick. Same across the board.

Keep calm and carry on driving.

 

[DJS]

Putting the car up another 10k is probably the worst thing Lotus have done, on top of all the other bad decisions made its been a recipe for disaster. I think the long term it won't do to bad but short term we are going to see it fall at least another 5k to 10k.

As said above keep calm this will settle down soon enough and from my experience the product itself is amazing.

 

[AGP]

If you're planning on keeping the car for sometime then I wouldn't worry as you say but, I totally agree that Lotus has shot themselves in the foot increasing their prices at a time when luxury/sports cars aren't selling.
8 cars have arrived on Autotrader today, being sold by Lotus direct, starting from £80,705, even if they are pre price increased cars, its clear they aren't selling.
Why would anyone carry on waiting for their slot and pay more?
Why did they not limit the FE's and start rolling out the base models of which depositors have been waiting over 2 yrs for.
What a mess that continues to deepen.
I will keep an eye on the prices over the winter and decide on what I will do, but it is becoming increasingly unlikely that I'd be going with my original plan of buying at RRP.

 

[meccanisti]

If you're planning on keeping the car for sometime then I wouldn't worry as you say but, I totally agree that Lotus has shot themselves in the foot increasing their prices at a time when luxury/sports cars aren't selling.
8 cars have arrived on Autotrader today, being sold by Lotus direct, starting from £80,705, even if they are pre price increased cars, its clear they aren't selling.
Why would anyone carry on waiting for their slot and pay more?
Why did they not limit the FE's and start rolling out the base models of which depositors have been waiting over 2 yrs for.
What a mess that continues to deepen.
I will keep an eye on the prices over the winter and decide on what I will do, but it is becoming increasingly unlikely that I'd be going with my original plan of buying at RRP.

That's exactly what I would do/did. My slot was pushed back to the month after the 7k price increase so I cancelled and found one the same spec zero miles at a dealer for immediate delivery.

Lotus were pushing them out to agents probably a dozen per week pre-August obviously now they can't even be bothered to do that. They'll probably be advertising them on Gumtree next week.

They still email me updates about the cancelled build slot (still not manufactured then!) perhaps it will end up on eBay!

 

[New to Lotus]

I said a while ago there are a lot of orphaned cars hanging about at hethel or storage all cars are dropping in value and will continue to until the finance options go back down in price.

 

[ChrisJ]

Trade retail screen price now starting under £70k (2023 '72 plate Nimbus 2400miles).

 

[Rudolph]

* * * * *
Owner of the 1st delivered Emira V6 in the Netherlands sold it after 1 year and 15.000 km........
I can only imagine he traded it in for a new Eletre....of which the Dutch importer has sold 10 units already.......

FROM TOMORROW ON SALE AT VAN DER KOOI SPORTSCARS!
Lotus Emira 3.5 V6 First Edition with 400 HP manual transmission, delivered November 2022.
With only 15,000 km driven in Hethel Yellow with black Alcantara upholstery and yellow stitching. From € 151,400 now for € 125,900 incl VAT and BPM.

 

[Lotustoronto]

Looks like Emira's are now being listed in UK at 69K GPB. - Lotus will eventually will be honouring / beating the original prices from 2021, at least in the (slightly) pre-owned market in UK. So many good options, I have no idea how the base configurator has not been launched. They would do well to get that up soon...

** noticed a lot of DV and Seneca

 

[Rudolph]

Looks like Emira's are now being listed in UK at 69K GPB. - Lotus will eventually will be honouring / beating the original prices from 2021, at least in the (slightly) pre-owned market in UK. So many good options, I have no idea how the base configurator has not been launched. They would do well to get that up soon...

** noticed a lot of DV and Seneca

* * * * * *
61 x Emira on Autotrader.UK of which the majority = 39 x below GBP 80k.......

 

[DJS]

It's all to do with finance and a used Emira ballon and interest rate is off the chart, but with the new price hike the new Emira's will stop selling, well here in the UK anyway then it will be back to the used cars and the market should settle.

I expect the Emira to stay well above 60k for a long time.

 

[John_Matrix]

If the market ends up with plus final edition cars for sale, with a pool of buyers far lower in number, then the only differentiator is colour and nominally mileage. And of course, price.
When they go below £60k, they will end up shortlisted by more potential buyers as well. They surely go sub £60 sometime next year.

 

[RafP]

I’ve been watching since I cancelled my order in Feb (just before delivery) wise move as will end up saving best part of £20k … a few months ago nearly pulled trigger on a brand new one at £73k but had sat for so long was wary of issues and having a load to fix.

Would rather have one someone else has ironed bugs out of and year old and mid £60s … they seem to be dropping £1k per month and over winter and into spring I am thinking £64. will be bottom end. That’s on basis trade is around that now and fallingz

Many haven’t shifted in 6 months + and have come down £4-6k in that time so any margin dealers has is eroded.

It’s not just emiras though I watch the 718 GT4 market every now and again and most have come down £3- £5k since July and still haven’t sold

 

[Lotustoronto]

This isn't Emira only price drops for sure, has @RafP said, it's all sports cars at the moment.

The only thing I don't understand is why Lotus is continuing on with the V6 F/E at this point? Introduce the base version, this is only bringing down residuals further.

 

[TomE]

They’re continuing with FEs because they think they still have an order backlog for them. I’d be interested to know how many are being cancelled when they issue Checkout paperwork.

 

[DJS]

If the market ends up with plus final edition cars for sale, with a pool of buyers far lower in number, then the only differentiator is colour and nominally mileage. And of course, price.
When they go below £60k, they will end up shortlisted by more potential buyers as well. They surely go sub £60 sometime next year.

If the Emira does go below 60k in the near future the my advice is buy one what a bargain.

All the hype over this car was down to the initial advertisement that the car was only 60k new.

Obviously Lotus fucked that right up.

 

[hagen111]

The whole market needs to still correct. In history it has always been the case that the day you drive out of the showroom you loose 20%...after a year you are down 40%. We are moving back to that reality again. And it is not a bad thing.

Cost of capital is also back to normal. We will see years of higher inflation for the coming 10 years, no question. Even higher interest rates from todays. Over a 10 year period...Emira may become a future classic...it will bottom and move up again for those keeping them long enough. A new sportscar will be 200k GBP by then...

But for now...I think Emira is still the best buy in sports car land. For this money you buy the looks, some of the performance and unique driving experience of a supercar.

 

[FlashingBlade]

Generally agree. The first few years will see a significant depreciation but it'll bottom out and find its level. Barring unforseen circumstances, I don't see myself selling the Emira for a long time. It has just the right blend of tech and human integration and enough power to be entertaining without reckless. I did a 120 mile run in it the other day and averaged 40mpg according to the car's computer.

I can see myself personalizing the car though and adding bits and bobs from the subsequent models. or after market e.g. the seats are garbage but the adjustability is welcomed.

 

[mrmoogee]

Ignoring state of economy currently... Lotus do seem to have "reasonable" residuals when looking at other performance brands, they drop, but not half as sharply as others... for now the badge still carries some good clout.
However, I suspect it was the massive front page pieces around the UK, "£60k Emira" that have stuck in a lot of heads, and rightfully, a few people feel a bit mugged that it crept up and up and up paired with the delays. Wasn't a good look.

 

[meccanisti]

I did a 120 mile run in it the other day and averaged 40mpg according to the car's computer.

How? I could only get close to that by loading it on my trailer and towing it with my van!!

 

[FlashingBlade]

How? I could only get close to that by loading it on my trailer and towing it with my van!!

No idea, just cruising at 70-75 along the M62 and M18. It was 'the last 100 miles' that gave this figure so it could have been garbage for the rest of the trip but it definitely said 40 before I entered the town and then it started to drop.