FE I4 pricing no longer on US website

[Twin Cam]

About 2 weeks ago, I actually sent an email through Tammy to Matt, asking him to adjust the base prices and FE price based on the current exchange rates. I pointed out what the exchange rate was when the pricing was announced (the pound was worth $1.37 U.S.) and it's now $1.08. I pointed out that readjusting the base price of the £59,995 i4, would now put it at $64,995 U.S., $10k less than what it was, which would make it very competitive to the Corvette C8 which is now $67k. This does not require lowering the prices in the U.K. at all.

In addition, I pointed out how much better this revised pricing would position the Emira in the marketplace in the U.S., and would undoubtedly increase sales. I didn't get a reply back from either Tammy or Matt, but then suddenly the pricing is gone from the U.S. configurator. I don't know if my email got through and now they're considering my proposal, but the timing is certainly interesting. I hope they consider this, as it would open up the Emira as a very attractive alternative sports car to what many would otherwise be looking at. With the economy here as it is, dropping the base price by $10k would definitely get people's attention.

We’ve got a large spread on this thread, estimated price -15% to +21%

 

[Wizardwings]

About 2 weeks ago, I actually sent an email through Tammy to Matt, asking him to adjust the base prices and FE price based on the current exchange rates. I pointed out what the exchange rate was when the pricing was announced (the pound was worth $1.37 U.S.) and it's now $1.08. I pointed out that readjusting the base price of the £59,995 i4, would now put it at $64,995 U.S., $10k less than what it was, which would make it very competitive to the Corvette C8 which is now $67k. This does not require lowering the prices in the U.K. at all.

In addition, I pointed out how much better this revised pricing would position the Emira in the marketplace in the U.S., and would undoubtedly increase sales. I didn't get a reply back from either Tammy or Matt, but then suddenly the pricing is gone from the U.S. configurator. I don't know if my email got through and now they're considering my proposal, but the timing is certainly interesting. I hope they consider this, as it would open up the Emira as a very attractive alternative sports car to what many would otherwise be looking at. With the economy here as it is, dropping the base price by $10k would definitely get people's attention.

While I appreciate your gesture and would love for Lotus to apply your suggestion (or meet us half way), it is more likely that Lotus has/is facing huge supply chain price increases since the initial pricing was determined and announced. Material and automotive component inflation has largely outstripped consumer inflation. This is not including the capex, labor, etc. costs incurred due to delays - so even given a weaker GBP, my intution says they'd not be keen on offering a price reduction for certain markets.

 

[Lotustoronto]

While I appreciate your gesture and would love for Lotus to apply your suggestion (or meet us half way), it is more likely that Lotus has/is facing huge supply chain price increases since the initial pricing was determined and announced. Material and automotive component inflation has largely outstripped consumer inflation. This is not including the capex, labor, etc. costs incurred due to delays - so even given a weaker GBP, my intution says they'd not be keen on offering a price reduction for certain markets.

I second this ^... The only caveat would be contractual obligations regarding FX between Lotus USA and Lotus UK.

There is a possibility it lowers, but seems unlikely. Lotus USA is a subsidiary of Lotus UK, I am sure those contracts will favour Hethel.

It is not easy to navigate at the moment for Lotus. They have to be concerned on multiple fronts. Importation, recession, inflation, FX, supply chain, staffing, CS.... The list goes on. Tough spot for them.

 

[Rainier]

While I appreciate your gesture and would love for Lotus to apply your suggestion (or meet us half way), it is more likely that Lotus has/is facing huge supply chain price increases since the initial pricing was determined and announced. Material and automotive component inflation has largely outstripped consumer inflation. This is not including the capex, labor, etc. costs incurred due to delays - so even given a weaker GBP, my intution says they'd not be keen on offering a price reduction for certain markets.

Based on 1 GBP = 1.11 USD

Pre Tax V6FE example
UK = 75995 GBP - 20% VAT = 60769 GBP = $67483
US = $93900
US Difference = +$26417

Might that offer a buffer where Lotus could increase sterling price and hold the US price constant..?

 

[Lotustoronto]

Based on 1 GBP = 1.11 USD

Pre Tax V6FE example
UK = 75995 GBP - 20% VAT = 60769 GBP = $67483
US = $93900
US Difference = +$26417

Might that offer a buffer where Lotus could increase sterling price and hold the US price constant..?

UK pricing has not changed and is still being shown on their website. Every other region (EU/USA/AUS/ASIA) has removed base price and i4 f/e pricing.

My guess is everyone gets an increase except for first model year UK deliveries. It is strange as I have never seen a auto company remove advertised pricing before delivering a vehicle. Well, I guess the Tesla Cybertruck is the only other one I could think of. (but they delayed the truck for 3+ years) Rivian tried to increase pricing, but was met with law suits and outrage. They backtracked to the original pricing.

 

[dgrace]

Well, I guess the Tesla Cybertruck is the only other one I could think of. (but they delayed the truck for 3+ years)

Lotus: “Hold my beer…”

 

[Wolfram]

Based on 1 GBP = 1.11 USD

Pre Tax V6FE example
UK = 75995 GBP - 20% VAT = 60769 GBP = $67483
US = $93900
US Difference = +$26417

Might that offer a buffer where Lotus could increase sterling price and hold the US price constant..?

Just as an aside, can we please stop doing this - the maths is wrong.

VAT is a 20% tax added onto the gross value. So 20% VAT on £100 is £20, for a total of £120 including VAT.

You can't just subtract 20% of £120 which would be £24 to go the other way - you only added 20% VAT on £100 which is £20 - to get your VAT-exclusive price. You must divide by 1.2 (120%) instead.

So, UK £75995 inclusive of VAT = £63,329 exclusive of VAT.

 

[RENDERMAN]

What happened to the pricing?

Don't ask, I'm scare shitless, when I spoke to the wife about getting the car, I had mine @ $87990, now I have no clue, hope they don't come out with some crazy number like $95K+

 

[Leonard]

I’m still going to put my deposit down this week. If Lotus comes out with some truly outrageous pricing then I guess I’ll have to re-evaluate my course of action.

My only other desired alternatives are an Evora GT/400, Supra or GR86.

You may as well get an Evora now have some fun and put the deposit down

 

[Rainier]

VAT is a 20% tax added onto the gross value.

this is why I don't do my own taxes

 

[Leonard]

Maybe, but I don't want to spend unnecessary money if I don't have to. If I bought an Evora not only would I possibly be paying an over-inflated price and then being forced to hope prices don't nosedive in the market soon, I also would have to resist the urge to spend money on mods for a car I'm planning on selling in a year (which I don't trust myself to do).

Surely if u place a deposit now though you may not get a car for 18 to 24 months? What are dealers saying?
I honestly think Evora GT410 and Sports will be fine value wise when folk realise they are the better drivers car

 

[lion shf]

While I appreciate your gesture and would love for Lotus to apply your suggestion (or meet us half way), it is more likely that Lotus has/is facing huge supply chain price increases since the initial pricing was determined and announced. Material and automotive component inflation has largely outstripped consumer inflation. This is not including the capex, labor, etc. costs incurred due to delays - so even given a weaker GBP, my intution says they'd not be keen on offering a price reduction for certain markets.

Ya know when a sexy car with zero daily cred becomes a terrible idea? When it’s priced 20% too high 2 months before a global recession

 

[benjh1028]

Legitimately I have no idea. My dealer is relatively confident that I would have a Q3/Q4 2023 delivery. I'm not too sure about that though. I'm honestly willing to just buy a $5k Corolla if I really found myself needing a car. 18-24 months is crazy though. I hope that's not the case for US buyers, although I can see it happening pretty easily.

The plus side is that once production car reviews are out we'll be able to see how the Emira stacks up against the GT/4xx. If it really turns out to be better I may consider it but I kinda actually want the tech and the new front too. Haha.

I gotta ask - is Lotus Atlanta saying they can deliver a vehicle in Q3/Q4 2023 with a new deposit? I was told in September 2021 that it was unlikely so I placed a deposit elsewhere (and I'm a former customer).

 

[eriegz]

Ya know when a sexy car with zero daily cred becomes a terrible idea? When it’s priced 20% too high 2 months before a global recession

"Zero daily cred"? Which brand new 2-seater sports car is more daily-driveable than the Emira? Or did you just mean sports cars in general?

 

[Pegasi]

Has anyone experienced price increases on any other ordered car? I keep hearing that if the Lotus is 15K more then it's a no go. But isn't everything else going up too?

 

[RENDERMAN]

"Zero daily cred"? Which brand new 2-seater sports car is more daily-driveable than the Emira? Or did you just mean sports cars in general?

You are technically right, if we add all the test drives, we can say it is daily driven lol

 

[Lotustoronto]

If you guys google the Rivian price increase from march 2022 - which they had to back track due to customers calling them out for bait and switch, since they placed deposits based on an advertised price, then got sued by shareholders on top of that. It was a mess... Something Lotus should be wary of. Although not publicly traded, so securities laws do not affect them, the bait and switch issue that customers presented may be considered on the current Lotus situation.

Rivian's Bait and Switch Is Already Costing the Company | The Motley Fool

Rivian IPO'd with tens of thousands of excited customers behind it, but it has done little to deliver on its promises.

www.fool.com

BTW; Rivian depositors were considered customers - And won

 

[R1272]

About 2 weeks ago, I actually sent an email through Tammy to Matt, asking him to adjust the base prices and FE price based on the current exchange rates. I pointed out what the exchange rate was when the pricing was announced (the pound was worth $1.37 U.S.) and it's now $1.08. I pointed out that readjusting the base price of the £59,995 i4, would now put it at $64,995 U.S., $10k less than what it was, which would make it very competitive to the Corvette C8 which is now $67k. This does not require lowering the prices in the U.K. at all.

In addition, I pointed out how much better this revised pricing would position the Emira in the marketplace in the U.S., and would undoubtedly increase sales. I didn't get a reply back from either Tammy or Matt, but then suddenly the pricing is gone from the U.S. configurator. I don't know if my email got through and now they're considering my proposal, but the timing is certainly interesting. I hope they consider this, as it would open up the Emira as a very attractive alternative sports car to what many would otherwise be looking at. With the economy here as it is, dropping the base price by $10k would definitely get people's attention.

Regardless of exchange rate fluctuations, the cost of almost everything around the world is going, up, but your email to Lotus convinced them to lower the Emira price. Right.

 

[RENDERMAN]

If you guys google the Rivian price increase from march 2022 - which they had to back track due to customers calling them out for bait and switch, since they placed deposits based on an advertised price, then got sued by shareholders on top of that. It was a mess... Something Lotus should be wary of. Although not publicly traded, so securities laws do not affect them, the bait and switch issue that customers presented may be considered on the current Lotus situation.

Rivian's Bait and Switch Is Already Costing the Company | The Motley Fool

Rivian IPO'd with tens of thousands of excited customers behind it, but it has done little to deliver on its promises.

www.fool.com

BTW; Rivian depositors were considered customers - And won

I'm broke so i'm not taking anyone to court, I'll just pull my deposit, Z YaZ!!

 

[lion shf]

"Zero daily cred"? Which brand new 2-seater sports car is more daily-driveable than the Emira? Or did you just mean sports cars in general?

Don’t make me repost the 21 410 throttle house short take