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.

 

[AGP]

Nice looking F-Pace - good choice, have been very happy with mine. Jaguar are certainly not perfect but I feel much safer (more likely to do the right thing) dealing with Jaguar than with Lotus

That's good to know, its my first Jaguar

 

[action_turtle]

Based on my wet finger in the wind, they have produced more than that, maybe 600-800 cars in the past 6 months? I think they will eventually settle in between 4000-5000 a year. But then there is the problem of how many they can sell and for how long. This is why I think 30-40k is an upper limit for the Emira.

If they only build around 100 cars a month we may as well get our money now, buy something else and then put an order down in 2 years. I was told they have a few thousand orders... Being kicked back to June, I will assume im 4000+ in line. By the time I get to the front ICE sales will be banned in the UK at this rate.

 

[DF_Toronto]

I wasn't looking for a new sports car in July 21, I thought I was happy enough with my R8 and S2 Exige, albeit it 4 back ops meant I use the Exige less and less over the yrs.
Come the reveal, I thought I would watch. I was blown away by the looks and the £60K I4 price. I put a deposit down the next day on the 7th and thought I'd sell the R8 and keep the Exige and get a nice looking easy to get in and out of new Lotus.
Time went by and it became apparent that the BE wasn't going to be available for some time. The I4 FE was rumoured to be late £60K's/early £70K's which turned out to be close to £75K OTR price. I sucked it up and thought I'd pay the extra and configured the car.
My build is in August so I inevitably received the price increase Email.
I Feel totally let down by Lotus like everyone else. Can I justify £82K for a weekend car? Not really, I was pushing it at £75K tbh. Can I afford it? Yes, but that doesn't mean I can/want to justify it.
That leaves me with two options, Cancel or move to base car and add a few options, probably costing £75K. Of course, its a difficult decision when we still have no ideas of the BE price and cost of options.
If we did move to BE, would we still be in the que based on our original deposit, i.e. Early deposit= early build car?
I am going for a Factory tour on the 6th March, may look to cancel if I can, it has really left a sour taste in my mouth and I'm not sure I want to be walking about a Lotus Factory at this time .

As a comparison, I ordered a Jaguar F pace in Nov 21 and was given a 9 month indicated build time.
I had an Email in April for a build date mid June. Roll on a month and 3 weeks away from my build, Jaguar cancelled all outstanding orders and we all had to re-order the MY23 spec and the build would be significantly delayed. The price had increased by £4K and some of my no cost options were also now payable. The MY23 car did at least come with many more extras. The dealer said they would discuss honouring my price with Jaguar. I waited a few months and Jaguar honoured my original price along with many others. It was a bit of a rollercoaster of emotions and I did think about cancelling over the waiting period. Roll on 15 months from my original order time and it was delivered to the dealer last week.
I went to see it and I am pleased I stuck in there after a long wait, I will at least have a car with a better spec and for the same price I ordered it in Nov 21.
Why couldn't Lotus have treated their customers the same?

Two similar stories, both not ideal but definitely contrasting, one with a reasonable outcome, the other leaving a bitter taste in my mouth.

I'm picking up the Jag on March the 1st, at least I have something to look forward to, to ease the pain, disappointment.View attachment 22782

The explanation is complete idiocy at the management level, there is no other. They’re opening themselves up to bait and switch lawsuits and likely a Rivian type reversal that serves no purpose other than leaving a bitter taste in many ppl’s mouths. They are basically throwing their most loyal customers in the trash who would be automatic buyers of their EVs when there’s nothing else to buy in the coming years. The Chinese don’t understand the concept that service and honesty matters to customers in most of the world and assume people would buy a knockoff iPhone if they can sell it for 50 bucks less.

 

[Lloottuuss]

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.

I wrote to Lotus to let them know my views as an i4 FE customer affected by these price increases. It’s dreadful. I suggested they retune the i4 FE to 400BHP to compensate for these £££ increases, without impacting the warranty. I think it’s an entirely reasonable ask. The delays and reschedules have been horrendous and now these price increases. Testing loyalties without much coming back the other way.

 

[FlashingBlade]

It's a terrible way of doing things to arbitrarily pick a date and then backdate an 8% price increase on those that have had delay after delay. I get that a lot of those things were beyond the control of Lotus but how they've handled the price increase has been ENTIRELY within their control. To backdate the increase effectively to 2021 means that they must have known in 2022 that price increases were going to happen.

It's all left a very sour taste in the mouth and soiled the entire experience to be honest. Say what you like about the BMW m4 but I've only had good customer care from them in my last three BMWs. Do I really want to put what will be the thick end of 90k to lotus? I dont think so anymore and thats before I've even got the car and had to deal with any 'niggles'.

My thinking is now I'll see if I can get the cash together for a 2 year old R8 and if not, I'll get an M4 or maybe a 992 C2S

 

[Lloottuuss]

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

Prior prices were: I4 FE £71,995, V6 £75,995 plus options. New prices are £77,995 and £81,995 (inc VAT) respectively.
So a price rise of £6,000. (Approx 8%).

This also makes the adjusted price of the MY24 I4 FE more expensive than the price of a MY23 V6 FE.

From price rise comments in prior posts this week (from New Zealand and UAE) it seems that this will be a global 8% price rise.

I think our i4 FEs should be bumped up to 400BHP to compensate. Otherwise I think I am out. It’s a cheek….Matt Windle… "the price you pay is the price you were quoted at placing deposit"

 

[Mctaff]

lmao. As a previous Geely employee（left Geely since they treat employees with poor beneift, no overtime payment and no vacation) who lived in China and Canada, Geely nor China is not the one to blame at this point.
1. From my source in the company, Geely is focusing 100% on Lotus EV based in Wuhan and it has almost 0 control of Lotus UK. Thats the reason the CEO of Geely, Li Shufu, went to Hethel factory late last year. Lotus China was informed by Lotus UK the emira was delayed due to some reasons, but they didnt know how long the delay might be.
2. Geely dun care about the price of emira. As a list company, Geely‘s 2021 total income is 14.8 billion USD, i dun see any point to raise the price of emira-a sport car with less than 100000 total quantity.
3. Full of bias and stereotype with aimless hate to a country. Just blame China lol.

It does feel like someone has left a semi solid floater in the lotus brand-equity-bathtub though.

If I was Geely I’d be pretty upset about that

 

[Porter]

It's all left a very sour taste in the mouth and soiled the entire experience to be honest. Say what you like about the BMW m4 but I've only had good customer care from them in my last three BMWs. Do I really want to put what will be the thick end of 90k to lotus? I dont think so anymore and thats before I've even got the car and had to deal with any 'niggles'.

In the US, the problem with BMW is how their dealers treat you the instant the car goes out of warranty. In this area it's an immediate 2.5X or 3X multiplier on charged hours for any labor for any repair. It's not just a higher per-hour labor rate, they look up the labor guide time for the job and multiply the hours specified by their "customer pay" multiplier, then just jam the quote right up your ass. It produces situations like $1000 in labor for a ball joint replacement, and multi-thousand-dollar quotes for other trivial repairs. Just utterly cynical laughing-at-the-customer stuff.

With Lotus, you just don't get a local dealer at all.

 

[JPS_67]

I wrote to Lotus to let them know my views as an i4 FE customer affected by these price increases. It’s dreadful. I suggested they retune the i4 FE to 400BHP to compensate for these £££ increases, without impacting the warranty. I think it’s an entirely reasonable ask. The delays and reschedules have been horrendous and now these price increases. Testing loyalties without much coming back the other way.

I asked for a kickback to 300 HP, to lower the BPM taxes (due to CO2 emission rates) in Holland. I think we all have our different viewpoints...

 

[FlashingBlade]

I think our i4 FEs should be bumped up to 400BHP to compensate. Otherwise I think I am out. It’s a cheek….Matt Windle… "the price you pay is the price you were quoted at placing deposit"

Unfortunately wont happen. Otherwise you can well imagine all the V6 owners saying 'what was the point, we wanted the most powerful, what do we get?'

Plus its inevitable that the 400+ will be the Emira S for even MORE dough!

 

[FlashingBlade]

In the US, the problem with BMW is how their dealers treat you the instant the car goes out of warranty. In this area it's an immediate 2.5X or 3X multiplier on charged hours for any labor for any repair. It's not just a higher per-hour labor rate, they look up the labor guide time for the job and multiply the hours specified by their "customer pay" multiplier, then just jam the quote right up your ass. It produces situations like $1000 in labor for a ball joint replacement, and multi-thousand-dollar quotes for other trivial repairs. Just utterly cynical laughing-at-the-customer stuff.

Not had that experience in the UK but I've very rarely had out of warranty issues. I'm currently running a 2017 435d at 93000 miles (plan was to keep this and use it as the daily and the Emira as a summer car) and its been faultless other than the expected wear and tear items.

Plus I still get invites for new model unveilings, test drive open days and other events etc.

 

[Guest142]

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

What would the U.S. price be if the price increase did in fact impact U.S. buyers?? Will it jump up to $107k? $110k? What price difference are we then talking about? Hypothetically.

 

[FlashingBlade]

What would the U.S. price be if the price increase did in fact impact U.S. buyers?? Will it jump up to $107k? $110k? What price difference are we then talking about? Hypothetically.

8% on what it was (I dont know the US launch price).

 

[DJS]

Less than 100,000 total in world sales? Seems low. Or is that just initial sales?

Im guessing nowhere near 100,000 current build schedule is 5/6k a year even if they built 10,000. year that would only be 50.000 in the net 5 years.

Worldwide the Emira will be pretty rare especially when you compare it to the EV projected sales from Geely.

 

[Guest142]

Im guessing nowhere near 100,000 current build schedule is 5/6k a year even if they built 10,000. year that would only be 50.000 in the net 5 years.

Worldwide the Emira will be pretty rare especially when you compare it to the EV projected sales from Geely.

Exactly. And I think that gives the Emira more value. Again, I'm still in on this car. And it's tough, very. Through all of the everything...its been a lot that we all would have liked to be different. But, again I'm still all in on Lotus. I believe it's that special.

 

[FlashingBlade]

But is it really? Let's be honest here, its an Evora at heart with a nice new redesign and modern interior. In fact, I'd say the Evora is more the 'hardcore' sports car in GT410 spec.

 

[DJS]

But is it really? Let's be honest here, its an Evora at heart with a nice new redesign and modern interior. In fact, I'd say the Evora is more the 'hardcore' sports car in GT410 spec.

Im sorry but I've driven both and the Evora as an all rounder isn't fit to sew the Emiras shoe laces, and then there is the looks, Lotus have batted this one out of the park.

 

[Technicalthunk]

I’ve given it a few days reflection and decided to keep my order. I’m not due delivery until Q2 ‘24 at best so will keep an eye out for used cars and base spec & price before committing. I’m not sure I need all the bells and whistles in an FE. Plus, who knows, prices might drop by then….

 

[JSUNLAND]

First post... been following since 2021.
Deposit for a V6 FE was Feb 1, 2022 in Dallas TX, was # 110 at that time, currently as of Feb 1, 2023 1 year later I am #68 in line.
Based on Black Pack and Alcantara wheel option costs...
After fees and Texas taxes puts it around $103K+
($103,000 US converted to Pound is $85,625)
(California Tax would put it about $104K+ or $86,425)
So based on the EU price increase including VAT and including Black Pack and Alcantara wheel will be about $83,595 I really hope they don't increase the US price point.

 

[Martylemoo]

An edited promise video