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.

 

[JasonR]

Yup. I am a pragmatist by nature and tend to the positive but it is a trying if somewhat expected message.

Still in the greater scheme of things it is a minor upset. We are all gloriously privileged to be able to afford an £80k ish car as a plaything. Nobody here will be missing a mortgage payment, skipping dinner or choosing between heating the house or clothing our children because of this.

Still irrelevant.

You pay for something and you should get it as agreed.

Doesn’t matter if it’s a pebble or a super yacht. Principle is principle.

 

[Technicalthunk]

I’m a late depositor for an i4FE (April 2022) so I assume I’m in line for the price rise. Will have a look for alternatives at the weekend as it’ll save a year waiting and potentially further rises I guess. I thoroughly enjoyed the test drive though so I’m really not sure!

 

[shaank]

Most other manufacturers have increased prices - so this isn't a F*** you to lotus customers - it's the state of economic factors generally. Your bread is more expensive. Your fuel.

Lets stop with the Lotus hate, they held out longer than Porsche for example, and increased prices by less % also.

If it's the car you want, stick with it if you can absorb the increase I'd say. Residuals should be helped also.

 

[Twin Cam]

So what are we saying for used car values now?
Surely in the 90s?

Who knows, but some people don’t like the Company they are dealing with going back on their word and wouldn’t buy one on principle now, but as has been said before on here, those of us that showed brand loyalty over the years are now surplus to requirements and will soon be a distant memory to the Lotus sales team

 

[CDM1855]

No email for me yet, anyone else due a car in the next couple of months who hasn’t received one

 

[Apple tree drives]

January 2022 V6 order = higher price

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. Your Emira reservation is affected by this price increase, we apologise for any disappointment this may cause.

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.

In summer 2023, the Emira First Edition 4-cylinder turbocharged variant will begin production. Additionally, due to overwhelming demand, we will be closing reservations for the 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 First Edition will be worth the wait.

 

[dzernski]

Most other manufacturers have increased prices - so this isn't a F*** you to lotus customers - it's the state of economic factors generally. Your bread is more expensive. Your fuel.

Lets stop with the Lotus hate, they held out longer than Porsche for example, and increased prices by less % also.

If it's the car you want, stick with it if you can absorb the increase I'd say. Residuals should be helped also.

Whilst I understand the point, it would have more validity if the company in question hadn't explicitly promised they would not raise prices. If they had been silent on the matter, whilst annoying, it would be "one of those things". It is because they said they wouldn't that it could be classed as an F you to those who have deposits and a bit of a double whammy for those who had their build slip by a month two weeks ago.

 

[Andrew P]

I've spoken to them online since the email. My price is not protected and they won't even enter into a conversation about doing something about it.

I highlighted that without the delays, I should have the car by now, but they couldn't have been more dismissive.

Getting more and more frustrated at this point, seems to me like they are trying to bait customers into cancelling.

I think the only route to get a different outcome is to go to the top by email, especially given the previous commitment from Matt Windle. While I understand inflation is everywhere it seems unfair on all us early depositors who effectively are being punished twice for build delays - we all wanted the car last year at the agreed price. Interesting to know how many people are affected

 

[Russc]

I4 July depositor and also paid 2nd deposit. Got the "it`s going to cost more" email.

Would have just gone for a V6 if i had realised this complete XXXX show was going to happen. Always said to myself that i`d stay in and not consider cancelling IF they kept to their word as well about costs.

Well they haven`t, time to start seriously looking at the competition and take it from there. While it`s a nice car, it`s just that, a car and i`m not going to be F`d about by any company, it`s not worth it.

 

[Del Lardo]

Most other manufacturers have increased prices - so this isn't a F*** you to lotus customers - it's the state of economic factors generally. Your bread is more expensive. Your fuel.

Lets stop with the Lotus hate, they held out longer than Porsche for example, and increased prices by less % also.

If it's the car you want, stick with it if you can absorb the increase I'd say. Residuals should be helped also.

It's not necessarily hate, for me it's annoyance and disappointment. I've been waiting for 20 months for this car, the end was in sight and now it doesn't seem financially viable. My bread and fuel are more expensive, as are a lot of things but my earnings haven't kept track and it's not as easy as "get another job". If Lotus has delivered on the dates the promised, then promised again, then promised again I'd already have the car.

So I am annoyed and disappointed and a significant part of that will be directed at Lotus as they made the promises and they are the company who have pulled it out from underneath me regardless of the underlying situation that is outside of their control.

 

[VTECMatt]

Whilst I can’t say I’m happy with the increase I’ll take it on the chin like most I suspect. i guess my concern is mine isn’t due till q3 2024, so might go up again.

 

[Lots_Of_Trouble]

Get outta here, Lots-of-trouble-maker! :shakefist:

If im to be honest, I'd be furious too if I was still waiting and then told this, 100% that would be the final straw and I'd go and buy another car today.

Saying that,who wants to pay £100k for mine? Could be a bargain

 

[Keenan]

I just spoke with Lotus and basically it is a F You. They had orders for these cars years ago. They will have secured contracts and pricing before this. A promise was made by the main man thanking us for our patience and that prices would be honoured. And now it’s + more than £6000. This is bad Managment and capitalism at its finest. Poor customer service lady when presented with the facts was stumped for words.

 

[Pete]

I’m a v6 manual order from July 16th 2021 and I’ve missed out on the price protection despite Matt’s “promise”. He’s so out of his depth it’s untrue. He needs to go.

 

[Peeltone]

My price wasn't impacted nightmare for those that were and by chance I checked out yesterday on the car.

 

[PhilCP]

Do we know what the logic is as to who pays more and who doesn't? Is it based on deposit date or delivery date?

 

[Billyidoliser]

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?

I believe you are correct, its the build date that's all important, my V6 FE is April build...so OK for the price freeze (and confirmed via a second email within minutes of the first!), i4 base edition is due next year so price will be increased! Probably will cancel but will wait and see!
This info was directly from LCC, not always confident they know what they are talking about!!!

 

[GAVLA]

I’m a v6 manual order from July 16th 2021 and I’ve missed out on the price protection despite Matt’s “promise”. He’s so out of his depth it’s untrue. He needs to go.

No way!!! My order was placed on July 11th 2021 and my reservation is protected. I'm so sorry you've had this news.

 

[EM12AAM]

It's not necessarily hate, for me it's annoyance and disappointment. I've been waiting for 20 months for this car, the end was in sight and now it doesn't seem financially viable. My bread and fuel are more expensive, as are a lot of things but my earnings haven't kept track and it's not as easy as "get another job". If Lotus has delivered on the dates the promised, then promised again, then promised again I'd already have the car.

So I am annoyed and disappointed and a significant part of that will be directed at Lotus as they made the promises and they are the company who have pulled it out from underneath me regardless of the underlying situation that is outside of their control.

I agree.

My car (V6) has repeatedly been pushed back and the latest update is June build for July delivery. I too have been told I am affected by the price rise. That's not OK and is no way to treat customers. As others have said, the car should have been parked in my garage months ago but for Lotus production delays. I feel I've been patient and understanding up until now.

To say I am annoyed and disappointed is an understatement. I've been a Lotus enthusiast most of my life and an owner for more than 20 years. This disappoints me so much that it not only makes me want to cancel my order but also to sell my Elise and both my Esprits.

Congrats to all of you that have your cars or are otherwise unaffected by the price rises. For me this is the last straw and I'm out.

 

[digilotus]

Do we know what the logic is as to who pays more and who doesn't? Is it based on deposit date or delivery date?

I think all MY23 cars built until end of May will be price protected and everything afterwards won’t be.