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.

 

[teamvxracing]

Plus £6k on the previously published Base V6 price. I suspect the options will be +10% too.

expect news on Base to be dropped as an option soon , its been changed to " EMIRA ARRIVING Q2, 2024 " , its still just a website product , only premium spec will be going down the production line.

 

[TomE]

What was the original base price for v6? I assumed the i4 was £60k and v6 was more, but don't recall seeing it published.
Sorry, I need this spelling out for me

£64,995 for V6 Base Edition

 

[TomE]

But the V6 isn't going up in price for deposit holders in Australia? The local distributor has said they're holding the price on V6 deposits and only passing on 50% of the wholesale increase on i4 deposits.

Interesting. Is that for all V6 deposits in Australia or just those that have moved on to become locked-in orders? I think all your deposits were non-refundable, right?

 

[Nick in Sydney]

Interesting. Is that for all V6 deposits in Australia or just those that have moved on to become locked-in orders? I think all your deposits were non-refundable, right?

Yes, our V6 deposits were non-refundable. Lotus previously announced that Australia's FE V6 allocation is fully sold out, so presumably all V6 orders have been "confirmed by the factory" per the email below.

Communication reads:

By now you will no doubt have seen / heard that Lotus released a price update to their UK market on 15th February in which they advised they are increasing the MSRP on V6 First Edition and I4 First Edition by 8%. The increase will apply to all cars that go into production from 1 June, regardless of when the customer placed their deposit.

We are not immune to these increases, with a similar % increase being applied to our wholesale cost price from the factory. Additionally, we have incurred a significant increase in our shipping costs since the start of this year.

Our approach to this cost increase flow through is we will honour the quoted price for all V6 Emira first edition customers such as you, who currently have confirmed orders in place with the factory.

Any orders received subsequent to this notification will be subject to the new MSRP which will be increasing to $199,990. We appreciate your loyalty and patience during this Emira First edition buying process and hope that you equally respect our commitment to you at this juncture.

Please keep an eye out for a further email with information on the current build date status of your vehicle.

Kind Regards

 

[digilotus]

Interesting. Is that for all V6 deposits in Australia or just those that have moved on to become locked-in orders? I think all your deposits were non-refundable, right?

Indeed all V6 FE + I4 FE locked in orders were not refundable (2x deposits). Obviously deposits for base edition cars (1x deposit) are fully refundable until options pricing is made available and a spec is subsequently locked in.

In summary, the Emira price situation in Australia is as follows:

Price (MSRP)	Orders placed prior to 24th Feb 23	Future orders
V6 FE	$184,990 (price locked - no increase)	$199,990 (new price - 8.1% increase)
i4 FE	$185,490 (~4.2% increase, originally $177,990)	$192,990 (new price - 8.4% increase)

Lotus Australia has decided to absorb V6 FE factory price increases for all V6 FE cars built 1st June onwards which is when Lotus Cars will be applying the factory 8% price increase. For I4 FE cars (which are all being built after 1st June), Lotus Australia has decided to split the difference. I would assume FE options prices remain the same.

There has been no formal announcement for new base prices as yet but I would expect that all deposit holders for Emira Base vehicles will have the full price increase applied.

Price (MSRP)	Advertised price	New price
V6 Base	$169,990	TBA ($183,990 ?)
I4 Base	$155,990	TBA ($168,990 ?)

 

[TomE]

That’s a much fairer approach by Lotus Cars Australia.

 

[EspritGuy]

That’s a much fairer approach by Lotus Cars Australia.

Keeping the increase Down Under..

 

[action_turtle]

Yes, our V6 deposits were non-refundable. Lotus previously announced that Australia's FE V6 allocation is fully sold out, so presumably all V6 orders have been "confirmed by the factory" per the email below.

Communication reads:

By now you will no doubt have seen / heard that Lotus released a price update to their UK market on 15th February in which they advised they are increasing the MSRP on V6 First Edition and I4 First Edition by 8%. The increase will apply to all cars that go into production from 1 June, regardless of when the customer placed their deposit.

We are not immune to these increases, with a similar % increase being applied to our wholesale cost price from the factory. Additionally, we have incurred a significant increase in our shipping costs since the start of this year.

Our approach to this cost increase flow through is we will honour the quoted price for all V6 Emira first edition customers such as you, who currently have confirmed orders in place with the factory.

Any orders received subsequent to this notification will be subject to the new MSRP which will be increasing to $199,990. We appreciate your loyalty and patience during this Emira First edition buying process and hope that you equally respect our commitment to you at this juncture.

Please keep an eye out for a further email with information on the current build date status of your vehicle.

Kind Regards

This is how everyone with orders should have been treated. The only sane way of doing it imo

 

[simonb]

Lotus really need a new IT guy
website
showing
EMIRA

ARRIVING Q2, 2024​

so updated - not stating base car and another drag back from Q3 23

However next to it
FIRST EDITION

PRICED FROM £71,995​

Emira First Edition adds all the following equipment over the standard specification:

Which of course is a mythical price

on https://www.lotuscars.com/en-GB/emira

 

[0pirates0]

Indeed all V6 FE + I4 FE locked in orders were not refundable (2x deposits). Obviously deposits for base edition cars (1x deposit) are fully refundable until options pricing is made available and a spec is subsequently locked in.

In summary, the Emira price situation in Australia is as follows:

Price (MSRP)	Orders placed prior to 24th Feb 23	Future orders
V6 FE	$184,990 (price locked - no increase)	$199,990 (new price - 8.1% increase)
i4 FE	$185,490 (~4.2% increase, originally $177,990)	$192,990 (new price - 8.4% increase)

Lotus Australia has decided to absorb V6 FE factory price increases for all V6 FE cars built 1st June onwards which is when Lotus Cars will be applying the factory 8% price increase. For I4 FE cars (which are all being being built after 1st June), Lotus Australia has decided to split the difference. I would assume FE options prices remain the same.

There has been no formal announcement for new base prices as yet but I would expect that all deposit holders for Emira Base vehicles will have the full price increase applied.

Price (MSRP)	Advertised price	New price
V6 Base	$169,990	TBA ($183,990 ?)
I4 Base	$155,990	TBA ($168,990 ?)

Holy, that's almost the same price as emira in China..which i thought was the most expensive place for sports cars

 

[JayL]

Indeed all V6 FE + I4 FE locked in orders were not refundable (2x deposits). Obviously deposits for base edition cars (1x deposit) are fully refundable until options pricing is made available and a spec is subsequently locked in.

In summary, the Emira price situation in Australia is as follows:

Price (MSRP)	Orders placed prior to 24th Feb 23	Future orders
V6 FE	$184,990 (price locked - no increase)	$199,990 (new price - 8.1% increase)
i4 FE	$185,490 (~4.2% increase, originally $177,990)	$192,990 (new price - 8.4% increase)

Lotus Australia has decided to absorb V6 FE factory price increases for all V6 FE cars built 1st June onwards which is when Lotus Cars will be applying the factory 8% price increase. For I4 FE cars (which are all being being built after 1st June), Lotus Australia has decided to split the difference. I would assume FE options prices remain the same.

There has been no formal announcement for new base prices as yet but I would expect that all deposit holders for Emira Base vehicles will have the full price increase applied.

Price (MSRP)	Advertised price	New price
V6 Base	$169,990	TBA ($183,990 ?)
I4 Base	$155,990	TBA ($168,990 ?)

If i4 FE orders are wearing half the increase, it makes sense for V6/i4 base orders to cop the full % change.

It seems this comms only went out to FE order holders. I have a deposit down for base and have not heard anything from LCA.

It’ll probably be a $200k car by the time they start delivering base i4 cars lol.

 

[Nick in Sydney]

Holy, that's almost the same price as emira in China..which i thought was the most expensive place for sports cars

Yes not cheap thanks to our luxury car tax, though those prices are in Australian dollars not USD. Aussie buys about 67 cents at the moment.

 

[TurboTambo]

Yes not cheap thanks to our luxury car tax, though those prices are in Australian dollars not USD. Aussie buys about 67 cents at the moment.

The whole point of the luxury car tax was to keep as many people as possible buying Australian cars, now no car is made in Australia but we still have this rip off tax. Its BS.

 

[krist]

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.

I asked my Dealer, they said: ask Lotus. So I did. I got following answer:
Answering to your question about your reservation of Emira I4 Fist Edition, made in February 2022 at the dealer xxxxx the order opening starts in June 2023, the delivery in September 2023. You will receive more details to a later time, closer to the order.
About the price, this will be announced at the end of March 2023.
I hope that you can understand that prices are subject to governmental taxes.
Please be assured that we are commitment to providing you with the best possible value.
Couple of points from that email:
- I ordered in February, it was the last spot available for an i4 at that dealer, original delivery was Oct.22, now they say June with delivery September (?) With production of i4's STARTING June. Would that mean the entire batch of i4 FE is really, really small?
- I4 FE price for EU will only be known in late March? So they have not yet decided if they change it or not?
- point about local taxes, do they mean VAT? My price was quoted with VAT, not sure what other governmental taxes they mean, any UK taxes? Strange also they do not quote the story about global increases in costs, dropped that line already?

I am really dissapointed with this whole situation, The delays are one thing, that I can understand, but the promises of "price you were quoted is the price you will pay" followed by "global increase" which turns out not to be so global, it seems to me just so amateurish. As for me if they do increase the prices, I will pass on the FE, maybe get a base edition later, probably get a cayman instead. From the communication Lotus makes to hte customers I get a feeling like I'm not treated as a partner in the business relation I entered into...

 

[JayL]

I asked my Dealer, they said: ask Lotus. So I did. I got following answer:
Answering to your question about your reservation of Emira I4 Fist Edition, made in February 2022 at the dealer xxxxx the order opening starts in June 2023, the delivery in September 2023. You will receive more details to a later time, closer to the order.
About the price, this will be announced at the end of March 2023.
I hope that you can understand that prices are subject to governmental taxes.
Please be assured that we are commitment to providing you with the best possible value.
Couple of points from that email:
- I ordered in February, it was the last spot available for an i4 at that dealer, original delivery was Oct.22, now they say June with delivery September (?) With production of i4's STARTING June. Would that mean the entire batch of i4 FE is really, really small?
- I4 FE price for EU will only be known in late March? So they have not yet decided if they change it or not?
- point about local taxes, do they mean VAT? My price was quoted with VAT, not sure what other governmental taxes they mean, any UK taxes? Strange also they do not quote the story about global increases in costs, dropped that line already?

I am really dissapointed with this whole situation, The delays are one thing, that I can understand, but the promises of "price you were quoted is the price you will pay" followed by "global increase" which turns out not to be so global, it seems to me just so amateurish. As for me if they do increase the prices, I will pass on the FE, maybe get a base edition later, probably get a cayman instead. From the communication Lotus makes to hte customers I get a feeling like I'm not treated as a partner in the business relation I entered into...

The way things are going, by the time they actually launch the base i4, it is likely the price would’ve increased to around the same level of the FE today, if not more.

 

[Captain.Kirk]

The way things are going, by the time they actually launch the base i4, it is likely the price would’ve increased to around the same level of the FE today, if not more.

Interesting that the response from Lotus to ‘krist’ had a few common grammar/spelling mistakes as if it came from Lotus/Geely HQ in China through a translation. Is Geely now taking over the communication channels?

 

[Rainier]

Interesting that the response from Lotus to ‘krist’ had a few common grammar/spelling mistakes as if it came from Lotus/Geely HQ in China through a translation. Is Geely now taking over the communication channels?

Thanks to ChatGPT we can now convert the letter back into the original Norfolk

"Oi, lookey ere, mate! 'Bout yer Emira I4 Fist Edition reserbayshun at the dealer xxxxx, made in Feb 2022, innit? Well, the order openin' don't start till June 2023 and ya ain't gettin' yer hands on it till September 2023. Yew'll get all the juicy deets closer to the order date, aye. Now, 'bout the price, that ain't bein' revealed 'til the end of March 2023. And yew best be knowin' that the price is subject to those bloomin' governmental taxes. But don't yew worry, we're committed to givin' yew the best possible bang for yer buck, we are!"

 

[Captain.Kirk]

Thanks to ChatGPT we can now convert the letter back into the original Norfolk

"Oi, lookey ere, mate! 'Bout yer Emira I4 Fist Edition reserbayshun at the dealer xxxxx, made in Feb 2022, innit? Well, the order openin' don't start till June 2023 and ya ain't gettin' yer hands on it till September 2023. Yew'll get all the juicy deets closer to the order date, aye. Now, 'bout the price, that ain't bein' revealed 'til the end of March 2023. And yew best be knowin' that the price is subject to those bloomin' governmental taxes. But don't yew worry, we're committed to givin' yew the best possible bang for yer buck, we are!"

“The end of the Lotus world is nigh!”

 

[krist]

Interesting that the response from Lotus to ‘krist’ had a few common grammar/spelling mistakes as if it came from Lotus/Geely HQ in China through a translation. Is Geely now taking over the communication channels?

oh come on, spelling and grammar mistakes? Try writing in polish, anw we'll see the grammar and spelling...

 

[EM12AAM]

I finally got the e-mail inviting me to lock in my configuration and checkout today (I thought they did this by phone previously?)

Apparently I have to confirm my configuration by 12pm 8 March to confirm a June build.

I think I recall seeing that confirmation is requested 3 months before the car goes down the line. Do they do all of the June build cars on 1 March, then or can I read into this that at best I missed having the quoted price locked in by 8 days and at worst by just 1?