Prices increase update from Lotus - and stopping of reservations for V6 FE

Please be advised that, as a result of significantly increasing costs, the Lotus Emira will later this year be subject to new pricing.

Whilst a significant level of cost increase has been absorbed, with effect from 1 June 2023, the retail price will increase to £81,995 (incl VAT) for the Emira V6 First Edition, and £77,795 (incl VAT) for the Emira First Edition 4-cylinder turbocharged variant. Full pricing details can be found on our website. However, your Emira reservation will not be affected by this increase, we can confirm your reservation has been price protected.

We are fully committed to our production schedule and in the next two weeks, we will be in touch via email to update you further on the progression of your Lotus Emira.

Due to overwhelming demand, we will be closing reservations for Lotus Emira V6 First Edition. We will be sharing the exact timings soon.

 

[AlexB]

I have the same email, but crucially WITHOUT the bit about the price being protected.

September 21 deposit, I4 model. I'm cancelling anyway as I have another car now.

 

[donskibeat]

Amusing that mine says my price will be protected - when my Emira is already sitting in my driveway...........

 

[912Matt]

Should help the used values

 

[FlashingBlade]

Just got my email saying that my car is affected by the price increase. Just went back on the configurator and its about an extra 4k over when I placed the deposit. Getting so fed up now with this on top of the constant delays and APR increases that I'm really just thinking about walking away. The only reason I havent is because it will mean that I've wasted best part of two years waiting for something only to cancel when I'm probably four-five months from delivery.

Its getting to be a situation of what will be the straw that breaks the camels back.

 

[digilotus]

Not surprising but its good to know where everyone stands regarding price protection for existing reservations/deposits.

 

[digilotus]

Just got my email saying that my car is affected by the price increase. Just went back on the configurator and its about an extra 4k over when I placed the deposit. Getting so fed up now with this on top of the constant delays and APR increases that I'm really just thinking about walking away. The only reason I havent is because it will mean that I've wasted best part of two years waiting for something only to cancel when I'm probably four-five months from delivery.

Its getting to be a situation of what will be the straw that breaks the camels back.

When did you place your deposit?

 

[FlashingBlade]

When did you place your deposit?

1st deposit August 2021, Second part september 2021.

 

[JasonR]

Guess that’s me definitely in whether I keep the car or not

 

[digilotus]

1st deposit August 2021, Second part september 2021.

Hmm thats a long time so I would have thought that you would have your reservation price protected. Is it an i4? I'm trying to determine what criteria results in price protection and which doesn't.

 

[AlexB]

Not surprising but its good to know where everyone stands regarding price protection for existing reservations/deposits.

They aren't protecting the price for all existing deposits.

 

[ADC]

I have the same email, but crucially WITHOUT the bit about the price being protected.

September 21 deposit, I4 model. I'm cancelling anyway as I have another car now.

Yeah, I'm the same boat... November 2021 deposit for an i4 FE (i.e. prior to The Matt Windle Video), no wording in my email about the price being protected

Not impressed.

EDIT: full wording of my email

Dear ADC

Please be advised that, as a result of significantly increasing costs, the Lotus Emira will later this year be subject to new pricing.

Whilst a significant level of cost increase has been absorbed and prices held since first deliveries in 2022 right the way through to summer 2023, with effect from 1 June 2023, the retail price will increase to £81,995 (incl VAT) for the Emira V6 First Edition and £77,795 (incl VAT) for the Emira First Edition 4-cylinder turbocharged variant. Full pricing details can be found on our website.

Due to the overwhelming demand for the Lotus Emira V6 First Edition, we would like to share with you the upcoming Emira milestones:

• In summer 2023 Emira First Edition 4-cylinder turbocharged variant will begin production.
• In 2024 production will begin of the Emira V6 and Emira 4-cylinder turbocharged variant, and pricing will be announced in Q3 2023.
• Due to overwhelming demand, we will be closing reservations for Lotus Emira V6 First Edition. We will be sharing the exact timings soon.

If you have yet to book your test drive or have any other questions, please contact our dedicated Lotus Customer Care team by phone, or live chat on Lotuscars.com.

We promise your Lotus Emira will be worth the wait.

Kind regards,

Lotus Customer Care

Telephone: 03300 948 047

 

[digilotus]

They aren't protecting the price for all existing deposits.

It seems that V6 FEs might be price protected and i4 FEs might not be. *sigh*

And potentially only V6FEs within a certain build/delivery date (e.g. MY23s).. but too early to tell until we get more responses.

I wonder if 1st June 2023 is the start of MY24 production? That might align with the I4 Being MY24 onwards and price protection only applying to MY23 vehicles... but this is speculation on my end right now.

 

[teamvxracing]

no price protection , i4 , deposit morning after reveal , A long time ago in a galaxy far, far away...

 

[FlashingBlade]

Hmm thats a long time so I would have thought that you would have your reservation price protected. Is it an i4? I'm trying to determine what criteria results in price protection and which doesn't.

No ,V6 manual.

 

[Andrew P]

Please be advised that, as a result of significantly increasing costs, the Lotus Emira will later this year be subject to new pricing.

Whilst a significant level of cost increase has been absorbed, with effect from 1 June 2023, the retail price will increase to £81,995 (incl VAT) for the Emira V6 First Edition, and £77,795 (incl VAT) for the Emira First Edition 4-cylinder turbocharged variant. Full pricing details can be found on our website. However, your Emira reservation will not be affected by this increase, we can confirm your reservation has been price protected.

We are fully committed to our production schedule and in the next two weeks, we will be in touch via email to update you further on the progression of your Lotus Emira.

Due to overwhelming demand, we will be closing reservations for Lotus Emira V6 First Edition. We will be sharing the exact timings soon.

View attachment 22601

When is your delivery scheduled? - presumably before June. My email says price going up - i4 so August delivery.

 

[SJR202]

Deposit place early Sept 2021 but have been informed my car is not protected and the increase in price will affect my car. On the basis that my original delivery date was cQ4 2022 moved to Q1 2023 to now TBC June/July 23 then the delays in their roll out have pushed my delivery back 6+ months and being charged the increased cost. So if they'd honoured their own development schedule not only would I have the car now, it would be c£4-5k cheaper.
Given I've now got a Toyota GR86 I cant see the Emira being 3 times the car (£30k vs almost £90k) so I would rather my 5k deposit back in my bank thank £85,515 in Lotus'. I've always just accepted it'll arrive when it arrives, but on principle Im going to be out.

As a side note - I had a deposit on a Toyota GR Yaris from March 21 and it was delivered in Nov 22, in that time the price had gone up c£2500 and the first year road tax too, not only did Toyota honour the March 21 price they even honoured the 1st year road tax price!

Whilst a significant level of cost increase has been absorbed and prices held since first deliveries in 2022 right the way through to summer 2023, with effect from 1 June 2023, the retail price will increase to £81,995 (incl VAT) for the Emira V6 First Edition and £77,795 (incl VAT) for the Emira First Edition 4-cylinder turbocharged variant. Full pricing details can be found on our website. Your Emira reservation is affected by this price increase, we apologise for any disappointment this may cause.

 

[FlashingBlade]

I think they're basing it on build date. My build date is 'currently' scheduled for June 2023, after the price increase. Which is interesting, because if I sign the finance agreement BEFORE the build date, then surely it should be the pre-june price?

 

[Del Lardo]

Think this is the straw that breaks the camels back for me. Day 1 deposit holder, months and months of delays on Lotus and now the price increase on an i4 just feels like a kick in the teeth.

Appreciate they are facing huge challenges with cost increases in parts and labour and they probably have to increase the price to make it a viable produce but combined with interest rate rises on finance my gut says to get my deposit back.

 

[ADC]

I think they're basing it on build date. My build date is 'currently' scheduled for June 2023, after the price increase. Which is interesting, because if I sign the finance agreement BEFORE the build date, then surely it should be the pre-june price?

There may be some supply-chain / build-date based reasoning for the V6, but based on @teamvxracing 's reply, I think they've just declared F**k You to all i4 depositors. Cheers Lotus.