And so it begins.......When will Lotus follow suit?

emiraspain

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Here is a letter I received this week from Caterham, where I placed an order a month ago for a 420. The waiting list is around a year fyi.......
Read the letter by all means, but the upshot is, they are raising their prices, and not by a small % either, more than 10% in some cases and then also increasing the prices of the extras.
I wont say much more about them, but the logic has to be that Lotus (and others) will do the same within the next few months... there is little choice if the car companies want to stay in business.
I know we have been told the FE cars, or at least those of the first few batches I guess, will have their original prices honoured, but I doubt whether anyone else further down the line will. I'd say the fact that the FE cars were actually over priced in my opinion, not a popular opinion I know, but when comparing to a base car at 60k and paying 82 or so for a load of extras that I dont need or want in many cases, then it is over priced. As they make most money on the extras, then I think lotus were well covered here with the FE, hence the maintaining of price was more as they could rather than a huge favour to loyal customers. However, a 60k base car, with costs soaring, that is simply not feasible any more.
Anyway, my Caterham gets a 2300 price rise, so not close to 10%... hence could have been worse :)
 

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CarGuy07

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I asked about this a while back and everyone was saying probably a slight increase. I highly doubt it. I feel like following all these delay emails, there will be one about price increase (even on the later batch of FE).
 

Pops68

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Here is a letter I received this week from Caterham, where I placed an order a month ago for a 420. The waiting list is around a year fyi.......
Read the letter by all means, but the upshot is, they are raising their prices, and not by a small % either, more than 10% in some cases and then also increasing the prices of the extras.
I wont say much more about them, but the logic has to be that Lotus (and others) will do the same within the next few months... there is little choice if the car companies want to stay in business.
I know we have been told the FE cars, or at least those of the first few batches I guess, will have their original prices honoured, but I doubt whether anyone else further down the line will. I'd say the fact that the FE cars were actually over priced in my opinion, not a popular opinion I know, but when comparing to a base car at 60k and paying 82 or so for a load of extras that I dont need or want in many cases, then it is over priced. As they make most money on the extras, then I think lotus were well covered here with the FE, hence the maintaining of price was more as they could rather than a huge favour to loyal customers. However, a 60k base car, with costs soaring, that is simply not feasible any more.
Anyway, my Caterham gets a 2300 price rise, so not close to 10%... hence could have been worse :)
i still say the Emira will be price limited. Only a few well-heeled folks and a handful of rabid fans will be willing to pay much over $100k for this car.
 

VL3X

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I asked about this a while back and everyone was saying probably a slight increase. I highly doubt it. I feel like following all these delay emails, there will be one about price increase (even on the later batch of FE).

i4 FE for sure. I think those of us with V6 FE orders in will be safe with the original price.
 

Citizen

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A price increase would simply be the last straw especially given what Matt said in his last video.

It’d be a short drive to the dealer to get my deposit back.

Didn’t you made a deposit already in adamas?
 

Leonard

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Here is a letter I received this week from Caterham, where I placed an order a month ago for a 420. The waiting list is around a year fyi.......
Read the letter by all means, but the upshot is, they are raising their prices, and not by a small % either, more than 10% in some cases and then also increasing the prices of the extras.
I wont say much more about them, but the logic has to be that Lotus (and others) will do the same within the next few months... there is little choice if the car companies want to stay in business.
I know we have been told the FE cars, or at least those of the first few batches I guess, will have their original prices honoured, but I doubt whether anyone else further down the line will. I'd say the fact that the FE cars were actually over priced in my opinion, not a popular opinion I know, but when comparing to a base car at 60k and paying 82 or so for a load of extras that I dont need or want in many cases, then it is over priced. As they make most money on the extras, then I think lotus were well covered here with the FE, hence the maintaining of price was more as they could rather than a huge favour to loyal customers. However, a 60k base car, with costs soaring, that is simply not feasible any more.
Anyway, my Caterham gets a 2300 price rise, so not close to 10%... hence could have been worse :)
Good gesture at least to offer to pay half the uplift
 

xen

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Didn’t you made a deposit already in adamas?

Yeah, at a price though and with delivery expected November. It looks a good car but it’s not a wait for 2 years and pay over $115K good car.
 

grahamgreen

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i4 FE for sure. I think those of us with V6 FE orders in will be safe with the original price.
To be fair like many i4 customers I placed my deposit July8th 21 and so should not be treated any different to V6 FE customers and not take the brunt of any potential raise.

i4 was due Autumn 22 and closely followed V6. I was happy with that given my want for the i4 over the V6.

Time will tell but with “promised” deliveries end of March / April there are many months ahead. Things could well change. A couple of grand here and there I’m not fussed. The i4 being £73.5k spec’d against the V6 made it even sweeter for me given I had no interest in the V6. Let’s see
 

VL3X

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should not be treated any different to V6 FE customers and not take the brunt of any potential raise.

I agree 100%, but just going off what Matt said during his first video about delays and promising to sell current orders at the original advertised price. AFAIK, no i4 FE orders have actually be spec ordered right? And i4 pricing has since disappeared from the official Emira site, right? The writing is on the walls...
 

JimH

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I agree 100%, but just going off what Matt said during his first video about delays and promising to sell current orders at the original advertised price. AFAIK, no i4 FE orders have actually be spec ordered right? And i4 pricing has since disappeared from the official Emira site, right? The writing is on the walls...
Not in the UK….. My i4 second deposit was paid in April 2022 and spec locked at 30th June originally for a November 22 build, December delivery - now not expected until Q2 2023….
 

VL3X

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Not in the UK….. My i4 second deposit was paid in April 2022 and spec locked at 30th June originally for a November 22 build, December delivery - now not expected until Q2 2023….

Ah, ok. Well in your case (and other UK buyers who spec ordered an i4) you should be safe from any future price hikes on new orders.

Honestly, who really knows? We just have to wait and see. I hope it works out for all of us.
 

grahamgreen

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Not in the UK….. My i4 second deposit was paid in April 2022 and spec locked at 30th June originally for a November 22 build, December delivery - now not expected until Q2 2023….
Same here. Second deposit paid April with confirmed spec. At this time it was still “autumn” 22 delivery.

Happy to share any price increase with V6 owners. What’s good for one is good for all 😂🤦‍♂️
 
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EspritGuy

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Here is a letter I received this week from Caterham, where I placed an order a month ago for a 420. The waiting list is around a year fyi.......
Read the letter by all means, but the upshot is, they are raising their prices, and not by a small % either, more than 10% in some cases and then also increasing the prices of the extras.
I wont say much more about them, but the logic has to be that Lotus (and others) will do the same within the next few months... there is little choice if the car companies want to stay in business.
I know we have been told the FE cars, or at least those of the first few batches I guess, will have their original prices honoured, but I doubt whether anyone else further down the line will. I'd say the fact that the FE cars were actually over priced in my opinion, not a popular opinion I know, but when comparing to a base car at 60k and paying 82 or so for a load of extras that I dont need or want in many cases, then it is over priced. As they make most money on the extras, then I think lotus were well covered here with the FE, hence the maintaining of price was more as they could rather than a huge favour to loyal customers. However, a 60k base car, with costs soaring, that is simply not feasible any more.
Anyway, my Caterham gets a 2300 price rise, so not close to 10%... hence could have been worse :)
To their credit the letter was well crafted and well reasoned
Impressed how the line items were identified and increases charted.
They treated the recipient with respect and will likely keep deposits rather than prompt cancelation.

Would I look forward to getting one like this from Lotus?
No. Shipping costs which were up are now substantially down. Chip supplies have improved. Parts on back order create delays but shouldn't be more expensive unless a rush charge is instituted. Basic household costs are up which should restrain discretionary spending (ie luxury items/ high-end cars). A recession is underway but not acknowledged. Worse is to come with winter expenses. Lotus has an order backlog which should Instill revenue confidence. Does it then make sense to elevate prices at the risk of defections?
Reward longstanding depositors with guaranteed pricing (not just early adopters with FE deals) whether a build order is in place or not, by honoring press release pricing and Windle statements..

Imagine if you read this:
'These are difficult times for both manufacturers and customers. Because you have placed your faith in the Lotus brand and products and stood with us despite unfortunate delays, we are rewarding your loyalty with the pricing we promised and you expected. This pertains to deposits made in 2021 and 2022 surrounding pricing announcements. We will succeed as a company by retaining and gaining loyal customers. We appreciate you rewarding us with your business. Thank you.

Allow me my fantasies. :)
 

Mistral

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To their credit the letter was well crafted and well reasoned
Impressed how the line items were identified and increases charted.
They treated the recipient with respect and will likely keep deposits rather than prompt cancelation.

Would I look forward to getting one like this from Lotus?
No. Shipping costs which were up are now substantially down. Chip supplies have improved. Parts on back order create delays but shouldn't be more expensive unless a rush charge is instituted. Basic household costs are up which should restrain discretionary spending (ie luxury items/ high-end cars). A recession is underway but not acknowledged. Worse is to come with winter expenses. Lotus has an order backlog which should Instill revenue confidence. Does it then make sense to elevate prices at the risk of defections?
Reward longstanding depositors with guaranteed pricing (not just early adopters with FE deals) whether a build order is in place or not, by honoring press release pricing and Windle statements..

Imagine if you read this:
'These are difficult times for both manufacturers and customers. Because you have placed your faith in the Lotus brand and products and stood with us despite unfortunate delays, we are rewarding your loyalty with the pricing we promised and you expected. This pertains to deposits made in 2021 and 2022 surrounding pricing announcements. We will succeed as a company by retaining and gaining loyal customers. We appreciate you rewarding us with your business. Thank you.

Allow me my fantasies. :)
What colour is your sky today? 😀

It's a nice thought but we're not party to the cost increases Lotus is facing and what leeway they have.
 

EspritGuy

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What colour is your sky today? 😀

It's a nice thought but we're not party to the cost increases Lotus is facing and what leeway they have.
Blue, like my mood.
Thanks for asking. :)
 
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