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.

 

[lion shf]

I kid. But I’ll tell you I don’t mess about over there, they are a bit serious

 

[Magma]

I kid. But I’ll tell you I don’t mess about over there, they are a bit serious

You think? I dunno... Seems there always good and bad apples on every forum. I think the Corvette forum is worse!

 

[benjh1028]

I think the Corvette forum is worse!

Makes sense. In general, inbreeding makes you cranky.

 

[lion shf]

Makes sense. In general, inbreeding makes you cranky.

I’ve been banned twice, gotta behave or I’m a permanent ban. Def not my demographic lol
but one of the great things is since there are tons of cars delivered, the content moves super fast

 

[2Lotus]

Just got an email from my dealer. States that US / Canada V6, FE orders will NOT have a price increase.

 

[lion shf]

Just got an email from my dealer. States that US / Canada V6, FE orders will NOT have a price increase.

Where are you buying your car?
rick from leola

 

[FlashingBlade]

Not sure what to make of that TBH. If its not a global increase and just selected markets, whats the selection criteria? Is it because NA & Canadian cars arent going to be delivered any time soon so they dont need to worry about increasing the price just yet or are other markets taking up the slack due to currency changes. Its not as if the cars for the US are going to cost any less to make than ROTW.

 

[Bertelli]

I’m any early I4 depositor and feel pretty peeved about this increase give the very public promise made by MW. I suspect that one reason reason for foisting the increase on i4 owners is that the overall margin on these is less than it was previously than is so with the v6. The fact is that if I’d gone with the v6 I’d already have it at the lower price. I did wait 2 years for the original Elise and my M250 was cancelled after which I went to BMW for a good period. I wanted to come back to lotus but am now seriously looking at a nearly new Porsche Camen GTS if the i4 reviews don’t stack up.

My sentiments too.
The Emira will be the first brand new car I've ever bought and my first Lotus. The delays, followed by the price increase have taken the shine off what should have been the most exciting purchase of my life. But I'm not going to make any rash decisions and will wait for the i4 reviews.

 

[dgrace]

Not sure what to make of that TBH. If its not a global increase and just selected markets, whats the selection criteria? Is it because NA & Canadian cars arent going to be delivered any time soon so they dont need to worry about increasing the price just yet or are other markets taking up the slack due to currency changes. Its not as if the cars for the US are going to cost any less to make than ROTW.

My guess is it's because US FE orders (orders, not deposits) have already been signed with a stated price in the contract. Lotus likely needs to deliver the cars under those terms or face 700 lawsuits.

 

[TomE]

That’s my view too. Where there is a contract at a declared price then Lotus is likely to have difficulty increasing the price. It will depend on the other T&Cs.

In the UK people have paid a reservation fee and the T&Cs explicitly allow Lotus to change almost everything, including price, timeframes and spec.

 

[SteveB]

Not sure what to make of that TBH. If it’s not a global increase and just selected markets, whats the selection criteria? Is it because NA & Canadian cars arent going to be delivered any time soon so they dont need to worry about increasing the price just yet or are other markets taking up the slack due to currency changes. It’s not as if the cars for the US are going to cost any less to make than ROTW.

Recent $\£ exchange rate fluctuations might explain why Lotus is holding prices in the US but increasing prices in the UK. A year ago there were approx $1.35/£. Now it’s closer to $1.2/£. As Lotus sells cars in the US in $USD but the majority of its costs are in £GBP, there is an appreciable exchange rate gain at the moment for US sales which will off-set inflationary costs in materials and labour. There is no such gain for UK sales so Lotus now under pressure to increase UK prices to maintain its margins.

 

[benjh1028]

Recent $\£ exchange rate fluctuations might explain why Lotus is holding prices in the US but increasing prices in the UK. A year ago there were approx $1.35/£. Now it’s closer to $1.2/£. As Lotus sells cars in the US in $USD but the majority of its costs are in £GBP, there is an appreciable exchange rate gain at the moment for US sales which will off-set inflationary costs in materials and labour. There is no such gain for UK sales so Lotus now under pressure to increase UK prices to maintain its margins.

I agree this is the most likely explanation.....for now.

 

[krist]

Recent $\£ exchange rate fluctuations might explain why Lotus is holding prices in the US but increasing prices in the UK. A year ago there were approx $1.35/£. Now it’s closer to $1.2/£. As Lotus sells cars in the US in $USD but the majority of its costs are in £GBP, there is an appreciable exchange rate gain at the moment for US sales which will off-set inflationary costs in materials and labour. There is no such gain for UK sales so Lotus now under pressure to increase UK prices to maintain its margins.

Anyone has any information if continental Europe is getting the higher prices or not?

 

[DerTheDer]

No email from my us dealer

 

[2Lotus]

Where are you buying your car?
rick from leola

Lotus of Pittsburgh, they have been keeping me updated as best as they can.

 

[TomE]

Anyone has any information if continental Europe is getting the higher prices or not?

The email from US dealers to customers refers to “the global pricing increase” and confirms this doesn’t include the 700 North American V6 FEs. The implication is prices are increasing in many/most places outside the US.

Nothing yet from other countries to confirm.

 

[EspritGuy]

Recent $\£ exchange rate fluctuations might explain why Lotus is holding prices in the US but increasing prices in the UK. A year ago there were approx $1.35/£. Now it’s closer to $1.2/£. As Lotus sells cars in the US in $USD but the majority of its costs are in £GBP, there is an appreciable exchange rate gain at the moment for US sales which will off-set inflationary costs in materials and labour. There is no such gain for UK sales so Lotus now under pressure to increase UK prices to maintain its margins.

It would be nice to see that logic apply once Base pricing is announced. It should also affect i4 FE orders in NA.
One can only hope.

 

[lion shf]

Lotus of Pittsburgh, they have been keeping me updated as best as they can.

that’s gonna be a blast driving it home. Did you make a plan?

 

[CDM1855]

Did you get a response as to why you hadn't received the email? Or better did they actually send an email to you to let you know your situation? I've been chasing CS daily and I'm getting nothing, so I'm currently in the dark as to how/if this affects me.

@Gizmo750 no, I’ve not heard anything since

 

[0pirates0]

I think this is getting off-topic to be honest, but I think they probably meant that the production numbers will be low compared to many of the other cars they produce as a group.

As an aside, over 28 years of production, Lotus only made a total of 10,675 Esprits. My S4 is one of 625 made of which only 94 were registered in the UK. The Emira is a head turner for sure but it's not going to be as rare as that...

the total order # of emira was around 4k worldwide(b4 Nov 2022), then China contributed around 1200 of i4s in Nov. 22. Im not sure the total oder number of emira after all the delay and cancellation.