Price increase

[thenextchapter]

Can I ask a silly question re pricing?
Can anyone confirm that the price has increased since launch. I know the finance interest rate has increased but I thought Matt Windle said the price was fixed?

 

[Hell4Leather]

Can I ask a silly question re pricing?
Can anyone confirm that the price has increased since launch. I know the finance interest rate has increased but I thought Matt Windle said the price was fixed?

I would reasonably expect 5% one year model to the next. Expect a few add ins that don’t really add much but help the margins. It’s all a game, just order what you want and enjoy the car. You’ll drive yourself crazy if you try to unpack all the little things they do to squeeze some profit into things.

 

[kitkat]

They said they were keeping the price the same for orders placed I think is the terminology they used — I may be misremembering from Harry’s video.

That makes me think anyone who hasn’t placed an order yet (a deposit/reservation isn’t an order) may or may not get a price increase.

 

[TomE]

So far they haven’t increased the UK price of the V6 FE or i4 FE since launch. The cost of the tracker option went up mid last year by about £55 and the government increased Year 1 VED last April. So on the road costs have gone up slightly.

Matt Windle said last June they would honour the price for people who had placed an order. Much debate whether that means deposit or actual contract, but as no UK contracts had been signed at that point we assume he meant deposits.

I suspect when they announce Base Edition pricing in Q2 there will be an increase in the previously published base prices. Or they may just put the options up. I also suspect they will put FE prices up at that point, or announce the end of the UK FE order book.

 

[~el~jefe~]

they really should NOT increase prices overall. The new, non-FE editions will have inflated prices as it is, all of that al la carte extra cost for the same product.

 

[TFS]

Dubai (UAE) increased price by 8% on all new orders

 

[TFS]

So far they haven’t increased the UK price of the V6 FE or i4 FE since launch. The cost of the tracker option went up mid last year by about £55 and the government increased Year 1 VED last April. So on the road costs have gone up slightly.

Matt Windle said last June they would honour the price for people who had placed an order. Much debate whether that means deposit or actual contract, but as no UK contracts had been signed at that point we assume he meant deposits.

I suspect when they announce Base Edition pricing in Q2 there will be an increase in the previously published base prices. Or they may just put the options up. I also suspect they will put FE prices up at that point, or announce the end of the UK FE order book.

Dealership in Dubai said once first edition orders are done.. the whole pricing will be different.. he told me even now with the 8% price increase for the final batch first edition orders you will still be cheaper off than speccing the car identically on the base models later.

 

[thenextchapter]

So far they haven’t increased the UK price of the V6 FE or i4 FE since launch. The cost of the tracker option went up mid last year by about £55 and the government increased Year 1 VED last April. So on the road costs have gone up slightly.

Matt Windle said last June they would honour the price for people who had placed an order. Much debate whether that means deposit or actual contract, but as no UK contracts had been signed at that point we assume he meant deposits.

I suspect when they announce Base Edition pricing in Q2 there will be an increase in the previously published base prices. Or they may just put the options up. I also suspect they will put FE prices up at that point, or announce the end of the UK FE order book.

HI Tom
Just checked through some screenshots of the finance configurator for my V6 manual spec I have and they show a price increase from £75955 to £76395 around late Sept to early Oct 2022 and then £76395 to £77595 around mid Oct 2022. On the road cost is the same, Tax is the same, Reg fee is the same

 

[TomE]

That's odd. I had to place a new deposit as part of postponing my order and the total price was the same (mid Jan 2023) as May 2022 after the VED increase. Have you changed your options?

Looking at the Lotus website now and the V6 FE base price is still £75,995. Adding an alcantara steering wheel takes it to £76,395 and adding Full Black Pack takes it to £77,595.

 

[Concept24]

HI Tom
Just checked through some screenshots of the finance configurator for my V6 manual spec I have and they show a price increase from £75955 to £76395 around late Sept to early Oct 2022 and then £76395 to £77595 around mid Oct 2022. On the road cost is the same, Tax is the same, Reg fee is the same

That's an almost 2.2% hike from lowest to highest prices.

 

[Panda47]

Can I ask a silly question re pricing?
Can anyone confirm that the price has increased since launch. I know the finance interest rate has increased but I thought Matt Windle said the price was fixed?

8% increase from March 2023

 

[thenextchapter]

That's odd. I had to place a new deposit as part of postponing my order and the total price was the same (mid Jan 2023) as May 2022 after the VED increase. Have you changed your options?

Looking at the Lotus website now and the V6 FE base price is still £75,995. Adding an alcantara steering wheel takes it to £76,395 and adding Full Black Pack takes it to £77,595.

You make a very valid observation Tom, I haven't changed my spec but I may have missed those options when looking at finance examples. If as you say, prices haven't changed for depositors then hats off to Lotus for sticking with FE launch prices and I'm comforted now regarding pricing, thanks

 

[Panda47]

You make a very valid observation Tom, I haven't changed my spec but I may have missed those options when looking at finance examples. If as you say, prices haven't changed for depositors then hats off to Lotus for sticking with FE launch prices and I'm comforted now regarding pricing, thanks

Quoted from my NZ dealer,all new orders will be 8% more.

 

[hml_xy]

8% is honestly not that much with everything going on in the world right now. Other luxury goods like watches had a higher increase and a certain price increase is expected after a time anyhow.

Matts statement was in all fairness about the deposit holders that had to wait for their cars.

Understandably new buyers would like to see Lotus stick to the old prices forever, but that is unrealistic if we're all honest.

 

[idleuser]

The problem is 8% increase with higher loan interest rates.. effectively making the FE over 101k before destination fees (2000 usd estimated)

93,900 + 8% ($7512) USD + higher use tax for California due to higher purchase price = 102,362 + 2000 destination fees = $104,362

California use tax at $93,900= $8,797.00
California use tax at $101,412 = $9,474.00

Differences = $950 just for the use tax increase
+ higher rates from 3% in 2022 to 5%+

We're looking at a different ball park now. Hopefully its not 8% more.

 

[Eagle7]

The problem is 8% increase with higher loan interest rates.. effectively making the FE over 101k before destination fees (2000 usd estimated)

93,900 + 8% ($7512) USD + higher use tax for California due to higher purchase price = 102,362 + 2000 destination fees = $104,362

California use tax at $93,900= $8,797.00
California use tax at $101,412 = $9,474.00

Differences = $950 just for the use tax increase
+ higher rates from 3% in 2022 to 5%+

We're looking at a different ball park now. Hopefully its not 8% more.

You're using the price of an FE, which are not going to increase because those were all sold out over a year ago. That's what Matt was referring to in his video. For new orders/buyers, start with the base price of either the V6 or i4, and add whatever the price increase percentage is going to be. Just because it might be 8% in New Zealand, doesn't mean it would necessarily be that high in the U.S.

 

[Citizen]

You're using the price of an FE, which are not going to increase because those were all sold out over a year ago. That's what Matt was referring to in his video. For new orders/buyers, start with the base price of either the V6 or i4, and add whatever the price increase percentage is going to be. Just because it might be 8% in New Zealand, doesn't mean it would necessarily be that high in the U.S.

8% up also in dubai for new orders

 

[EspritGuy]

You're using the price of an FE, which are not going to increase because those were all sold out over a year ago. That's what Matt was referring to in his video. For new orders/buyers, start with the base price of either the V6 or i4, and add whatever the price increase percentage is going to be. Just because it might be 8% in New Zealand, doesn't mean it would necessarily be that high in the U.S.

We are viewing The Big Wait from the time-is-money perspective.
NA FE buyers surely were spared but new costs likely will hit the rest of us.
Wish this were tied to deposit date. It doesn't seem right that the 2021 Emira price announcement may not apply to 2021 depositors who didn't make the 700 unit NA allocation threshold. We had a purchase price in mind when we opened our wallets back then.
There was a reward for Early Adopters. How about a similar deal for Long-time Waiters?
Customer Loyalty credit against future purchase? That would pay off the long-stated 'worth the wait' claim.

 

[Lotustoronto]

We are viewing The Big Wait from the time-is-money perspective.
NA FE buyers surely were spared but new costs likely will hit the rest of us.
Wish this were tied to deposit date. It doesn't seem right that the 2021 Emira price announcement may not apply to 2021 depositors who didn't make the 700 unit NA allocation threshold. We had a purchase price in mind when we opened our wallets back then.
There was a reward for Early Adopters. How about a similar deal for Long-time Waiters?
Customer Loyalty credit against future purchase? That would pay off the long-stated 'worth the wait' claim.

It would be nice, but I think unrealistic. No company would guarantee product pricing on a car from 2021 when being delivered in 2024. For base customers that is a 3 year wait and the prices will unfortunately rise from originally quoted. Depending on the increase, it will be interesting.

On the flip side to this, I also have never seen a car manufacturer have an online price advertised for the base car, which deposits were placed on that advertised pricing and then have it removed online, only to have a price increase occur. This is kinda close to a bait and switch practise. Where no-one will ever receive a base car for the price that was advertised when you made the deposit. Even corvette with the base C8, for the first year stuck with the announced pricing, even with all the delays and covid. I don't know if there are some legal ramifications here. I don't think it's ok to say a product costs X price, please make a deposit and order, and then receive new pricing due to Lotus' inability to launch the car or guarantee parts sourcing. Albeit every manufacturer had its delays.

Only other car I have heard seen this happen with is the Tesla cybertruck. However, the cyber truck price was never on it's website. Just stated during the reveal, so technically it was not advertised at the time of making a deposit. (I may be wrong, but honestly can't remember seeing it) Every manufacturer did increases to it's prices during the height of pandemic issues, but customers did receive cars at the prices advertised online.... maybe not all, but at least they can say they delivered on the promised pricing.

 

[dgrace]

The problem is 8% increase with higher loan interest rates.. effectively making the FE over 101k before destination fees (2000 usd estimated)

93,900 + 8% ($7512) USD + higher use tax for California due to higher purchase price = 102,362 + 2000 destination fees = $104,362

California use tax at $93,900= $8,797.00
California use tax at $101,412 = $9,474.00

Differences = $950 just for the use tax increase
+ higher rates from 3% in 2022 to 5%+

We're looking at a different ball park now. Hopefully its not 8% more.

Solution: Montana LLC