I'm out - the cancellations thread

[meenboli]

Since you had foreknowledge of all that has happened BEFORE you chose to get an Emira, what's the deal with the price video. Matt's promise was not to you, it was to people who had placed an order prior to his video. That's like moving next to an airport then complaining about the noise.

That's assuming I had prior knowledge...

And his promise was that the price you sign up for will be the price that you pay.

I was told by my dealer at the point of placing my deposit that the price might go up before I receive the car - which is not what Matt Windle says (1 min into the video).

And, for the record, the dealer is frustrated with it too - as the price increase brings them no benefit (they are not on commission) and have also seen the Matt Windle video.

I understand the price going up - and don't have an issue with it.

I do have an issue with the blank cheque that's expected when I sign.

Regardless - I'm still in - because, well, fook, look at it!

 

[meenboli]

I'd be interested if it mattered with the dealer.

Mentioned in another reply - but they don't like it either. It affects their sales - without bringing any benefit.

 

[TomE]

That's assuming I had prior knowledge...

And his promise was that the price you sign up for will be the price that you pay.

I was told by my dealer at the point of placing my deposit that the price might go up before I receive the car - which is not what Matt Windle says (1 min into the video).

And, for the record, the dealer is frustrated with it too - as the price increase brings them no benefit (they are not on commission) and have also seen the Matt Windle video.

I understand the price going up - and don't have an issue with it.

I do have an issue with the blank cheque that's expected when I sign.

Regardless - I'm still in - because, well, fook, look at it!

The Matt Windle video was sent to a defined audience at a point in time (last June to UK deposit holders), so needs to be considered in that context. It wasn't an ongoing commitment to pricing for future cutsomers.

For all UK deposits, back then and still now, everyone signed T&Cs that allowed Lotus to change timing, specs and pricing up until a contract is signed - which for most people is only 30 days before delivery. In the UK, paying a deposit doesn't lock in the purchase price.

 

[meenboli]

The Matt Windle video was sent to a defined audience at a point in time (last June to UK deposit holders), so needs to be considered in that context. It wasn't an ongoing commitment to pricing for future cutsomers.

For all UK deposits, back then and still now, everyone signed T&Cs that allowed Lotus to change timing, specs and pricing up until a contract is signed - which for most people is only 30 days before delivery. In the UK, paying a deposit doesn't lock in the purchase price.

Yep totally agree - doesn't make it 'right' though...

We are, however, living through exceptional times - so it's a case of suck it up, or leave the party.

 

[TomE]

When it was still a pre-launch it was to customers' advantage to be able to cancel and get a refund up until 30 days before, as there was limited published info, no demo cars, delays etc.

Now that Lotus seem to be sorting things out, it would probably make more sense for them and customers to lock in at an earlier point, committing the spec and price. In other countries the order becomes committed 3-6 months before delivery.

 

[lion shf]

The Matt Windle video was sent to a defined audience at a point in time (last June to UK deposit holders), so needs to be considered in that context. It wasn't an ongoing commitment to pricing for future cutsomers.

For all UK deposits, back then and still now, everyone signed T&Cs that allowed Lotus to change timing, specs and pricing up until a contract is signed - which for most people is only 30 days before delivery. In the UK, paying a deposit doesn't lock in the purchase price.

Exactly who’s side are you on boss?

 

[Twin Cam]

Don't you just love forums...

I'm not 'rattling' - nor am I upset, merely surprised.

I don't even want the car yet as it doesn't suit me at the moment - I'm happy to wait - assuming I don't die in the meantime

There is a point however, where the price increase will turn people away. Should there be several more increases for example - and it gets pushed above £90k, I'd probably walk away. Not necessarily because of affordability, but more about what it's worth in my mind (bearing in mind it set off as a sub £80k car).

What happens if the supply chain issues mysteriously go away - and then they reduce the price by £10k or so (like Tesla did - and again yesterday ) to create fresh demand?

I'm merely pointing out (as others have already done) that in the normal world of business you can't (and shouldn't) increase your prices after a deal has been done - otherwise there was no point doing the deal.

I'm sorry if I repeated things that have been said 9 months ago - but please note, I'm new to the forum, so haven't managed to read through all 84 pages of this thread in the 3 weeks that I joined.

Oh yeah - and please don't tell me it'll be 30 months... not sure I can cope with that

There is one benefit though - if the output is far less than they anticipated, then that means less of them on the roads - period.

That has to be a good thing in the long run for resale values... (now there's a can of worms...)

Interesting what you say about supply chain and prices.
I read a report yesterday from JP Morgan that indeed many prices of material and shipping costs are now falling

 

[idleuser]

Interesting what you say about supply chain and prices.
I read a report yesterday from JP Morgan that indeed many prices of material and shipping costs are now falling

Everywhere that I'm reading, supply chain is improving and shipping rates has come back down to earth to west coast.

 

[New to Lotus]

Profiteering now?

 

[TomE]

Exactly who’s side are you on boss?

Mainly clarity and balance! Lotus haven’t handled it well but also there are some unrealistic expectations.

We know lots of people have taken the option to pull out of the deal fairly close to checkout, which is helpful for them and a headache for Lotus. Imagine if they’d stuck to the original plan of UK deposits becoming non-refundable in Q1 last year when specs were locked.

 

[lion shf]

I mostly just messing around I’m on the 30 month plan

 

[meenboli]

Profiteering now?

Interesting what you say about supply chain and prices.
I read a report yesterday from JP Morgan that indeed many prices of material and shipping costs are now falling

Well - I have an engineering company (UK) - and I certainly can't say I've seen evidence of raw material price drops.

Stabilisation - maybe - and in some cases definitely still climbing - but dropping - no.

I do sympathise with Lotus - but when the costs drop - the prices won't drop straight away.

And when they do - I'd be mighty miffed if I'd paid peak price.

Don't even get me going on the oil companies...

 

[action_turtle]

Well - I have an engineering company (UK) - and I certainly can't say I've seen evidence of raw material price drops.

Stabilisation - maybe - and in some cases definitely still climbing - but dropping - no.

I do sympathise with Lotus - but when the costs drop - the prices won't drop straight away.

And when they do - I'd be mighty miffed if I'd paid peak price.

Don't even get me going on the oil companies...

I don’t think they have had enough cancellations for them to think the price is too high. And as other cars are expensive, I see no real incentive for them to drop the price. Not like they are struggling to get orders for this car

 

[meenboli]

I don’t think they have had enough cancellations for them to think the price is too high. And as other cars are expensive, I see no real incentive for them to drop the price. Not like they are struggling to get orders for this car

Oh I agree - well, I agree at the moment.

I'm talking in 2 years time when the rush 'might' have died down - and (if) the supply chain issues have eased.

Time will tell.

 

[Lotustoronto]

The Matt Windle video was sent to a defined audience at a point in time (last June to UK deposit holders), so needs to be considered in that context. It wasn't an ongoing commitment to pricing for future cutsomers.

For all UK deposits, back then and still now, everyone signed T&Cs that allowed Lotus to change timing, specs and pricing up until a contract is signed - which for most people is only 30 days before delivery. In the UK, paying a deposit doesn't lock in the purchase price.

He did say at the beginning of the video "to valued Emira customers around the world" - exact words.

 

[Cory]

Just got a call from the dealership and he confirmed the 12k price hike and more delays. Regrettably I just send an email requesting a refund and cancelled. This forum has been great and I hope everyone who sticks with the process loves their cars.

 

[action_turtle]

Just got a call from the dealership and he confirmed the 12k price hike and more delays. Regrettably I just send an email requesting a refund and cancelled. This forum has been great and I hope everyone who sticks with the process loves their cars.

12k?! USD or something?

 

[Lotus64]

FE price increased from $93900 to $105400 in the US. The Emira no longer feels like a value at that price point and a lot more cancellations will rightfully follow.

 

[Cory]

12k?! USD or something?

Yes dollars or $$$$$, in this case. Lol

 

[Twin Cam]

Yes dollars or $$$$$, in this case. Lol

Wow, if correct that is around 11%, welcome to the “you’ve been shafted” club