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.

 

[GAVLA]

Put my deposit down on 11-Jul-2021 and have my reservation protected thank goodness. Sounds like I had a close call !

 

[jimbobc]

Are there extra Otr costs on top of these new quoted prices? I cannot find it on the site

 

[donskibeat]

Few changes to the site apart from pricing

Handbook link has vanished

I4 is now target performance sub 4.5 secs to 60

shame they can't update website to remove the mention of the missing "Passenger footwell stowage net" from the covenience pack as well....!!

 

[dzernski]

So two weeks ago they change my build date from May to June and now they say that I'm paying a further X because my build date is in June. Lets not even bother with the time I've had a deposit in (Aug '21) and the Matt Windle "the price you pay is the price you were quoted at placing deposit" which I've previously used as a defence for the constant delays because "at least it wasn't going to cost more" now apparently it is, because Lotus can neither sort their production out nor keep to their word in a published media. That's going to play well in court.

 

[Cutting42]

That's kind of the worst thing, is't it? Zero reward for the support and patience shown, but you still begrudgingly like it more than the alternatives...

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.

 

[digilotus]

Prior prices were: I4 FE £71,995, V6 £75,995 plus options. New prices are £77,995 and £81,995 (inc VAT) respectively.
So a price rise of £6,000. (Approx 8%).

This also makes the adjusted price of the MY24 I4 FE more expensive than the price of a MY23 V6 FE.

From price rise comments in prior posts this week (from New Zealand and UAE) it seems that this will be a global 8% price rise.

 

[nelly111s]

Here’s hoping that a few cancellations bring my build date forward to May/June from July …

 

[Keenan]

9am 7th july I deposited and wanted an i4. I specced my car over a year ago and paid the second deposit. My car was £72395 as optioned. This has to be over a 5k hike. Totally unacceptable practice here especially when they confirmed prices would be honoured.

Just been on hold for lotus customer care for 30mins exactly and got cut off

I think the Sh1t has hit the fan. Expect an announcement.

 

[Nordmas]

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.

 

[ADC]

"at least it wasn't going to cost more"

This is exactly why I have been fairly chill about just waiting however long for them to get their act together. Pop goes that bubble

I'm annoyed enough by this turn of events that I should probably take a break from the forum for the rest of today, so I'm not just constantly thread-crapping with mildly angry posts...

 

[dzernski]

Someone should make sure the Matt Windle "the price you pay is the price you were quoted" video doesn't get removed from youtube.
ETA:
“I commit to you that these costs will not be passed on to you – the price you are being quoted will be the price you pay for your Emira and that is a promise”
1:09-1:19
That's pretty unambiguous in a non-public communication to customers (who were the only people to receive the link). I don't see how they can argue their way out of it.

 

[Twin Cam]

When did you place your deposit?

Prior prices were: I4 FE £71,995, V6 £75,995 plus options. New prices are £77,995 and £81,995 (inc VAT) respectively.
So a price rise of £6,000. (Approx 8%).

This also makes the adjusted price of the MY24 I4 FE more expensive than the price for a MY23 V6 FE.

From price rise comments in prior posts this week (from New Zealand and UAE) it seems that this will be a global 8% price rise.

And nice to see other markets seemed to know before anyone in the UK did

 

[PhilCP]

I've not received an email.
This could be the last straw for me if i'm expected to pay more for Lotus delays.
I'll watch the inbox with trepidation

 

[GAVLA]

So two weeks ago they change my build date from May to June and now they say that I'm paying a further X because my build date is in June. Lets not even bother with the time I've had a deposit in (Aug '21) and the Matt Windle "the price you pay is the price you were quoted at placing deposit" which I've previously used as a defence for the constant delays because "at least it wasn't going to cost more" now apparently it is, because Lotus can neither sort their production out nor keep to their word in a published media. That's going to play well in court.

Matt Windle's video message was dated 10th June 2022 so why aren't Lotus standing by their price promise for orders received before then ?????

 

[Aero]

I'm also shocked you could still make a reservation for a FE up until now...anywhere. In the US they seemed to have been gone almost immediately.
Fully expected a price increase at some point, especially for us poor souls who havent submitted a confirmed order yet....but have a 2021 deposit.

 

[Wake]

Are there extra Otr costs on top of these new quoted prices? I cannot find it on the site

Doesn’t include any optional extras, tracker black pack etc. and doesn’t include license registration, delivery or first year road tax. Will take the car to around £87-88k for one with all the cost options ticked.

 

[CDM1855]

I'm also shocked you could still make a reservation for a FE up until now...anywhere. In the US they seemed to have been gone almost immediately.
Fully expected a price increase at some point, especially for us poor souls who havent submitted a confirmed order yet....but have a 2021 deposit.

@Aero they allocated a higher number of first edition cars for the UK market

 

[Lots_Of_Trouble]

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

 

[digilotus]

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

I would say that used car values just went up by £6,000!

 

[ADC]

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

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