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.

 

[Lotustoronto]

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.

The question is, did anyone with an i4 F/E reservation get the originally marketed price of 71K price protected? If not, there may be a basis for legal liability. Increasing V6 F/E is not an issue as they have delivered cars on the promised price. Porsche has never had a car on a configurator, buildable with a options and then never deliver a single car on that price. (dealer markups aside, as that has nothing to do with Porsche AG)

 

[Mark Anderson]

Surely its illegal to promise a guaranteed price and then break the promise? They kept my deposit for the Lotus M250 for 2 years from 1999 and then told me they were no longer making it. Disgusting customer service

 

[jimbobc]

The question is, did anyone with an i4 F/E reservation get the originally marketed price of 71K price protected? If not, there may be a basis for legal liability. Increasing V6 F/E is not an issue as they have delivered cars on the promised price. Porsche has never had a car on a configurator, buildable with a options and then never deliver a single car on that price. (dealer markups aside, as that has nothing to do with Porsche AG)

No but I was told this morning mine was first 50 and July build

 

[Lotustoronto]

No but I was told this morning mine was first 50 and July build

If this was in the US, someone would have already started a lawsuit. Mind you our American friends do love suing companies more than anyone else on the planet.

 

[PhilCP]

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

Last I heard mine was due for May production so I might just be in the cheaper group.
Still waiting for the dreaded email.

 

[FlashingBlade]

I'm really tempted to cancel now but will sleep on it. I could go out and by an M4 with the ultimate spec for about 80-85k. Not only are stock cars available but the APR is also only 4.9%. The Evora is starting to look like a bargain now at roughly 25k cheaper than the Emira.

 

[Lotus321]

Interested to see how this will pan out

The update video emailed to deposit holders from Matt Windle was clearly a legally binding promise to deposit holders and would supersede the get outs they have on the website mentioning they reserve the right to change things. Me thinks a sharp letter from a solicitor will sort this out

 

[ino]

Since my local dealer and I don’t have any detail of BE options, I haven’t drop the 2nd deposit.
If (even the fastest) BE will be affected, then it might be highter price than FE + wrapping cost! 😱

 

[gdotp]

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

19th July i4 order confirmation for me and I’m NOT covered. This is pretty shoddy treatment from Lotus in my view and I’m seriously considering pulling out of my order now.

 

[gdotp]

Surely its illegal to promise a guaranteed price and then break the promise? They kept my deposit for the Lotus M250 for 2 years from 1999 and then told me they were no longer making it. Disgusting customer service

I had the same experience with my m250 order……

 

[Lots_Of_Trouble]

It seems the FE with full options at 76k was now a "bargain".
V6 base most likely coming in at £70k before any options .
(6k increase for base tbc and 4200 for the v6 over i4 according to configurator)

 

[FlashingBlade]

I'm sat here thinking 'is the emira really a £85k car for a manual V6 with 400bhp? I know you can say, 'thats just the price of cars these days' but it really does start to push it towards another bracket.

 

[Jonhklee]

Those who bought flipped cars with 5k over are now laughing hard at the market!!

I’m out already, so doubly out now I guess.

 

[Nova]

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.

Yea, that entire setup was a head scratcher. I am not sure the logic behind limiting the FE to a set number for one region but allow it to be ordered in UK indefinitely until this email announcement.

 

[Evotion]

'is the emira really a £85k car for a manual V6 with 400bhp?

No...

On looks alone and how it makes you feel it is a lot higher.
There are some common cars out there that will float others people's boats but this has always been a bargain in my eyes.

For those still on the fence, wait for the GT.

And, yes. The price rise is agreed and expected.

 

[FlashingBlade]

Those who bought flipped cars with 5k over are now laughing hard at the market!!

I’m out already, so doubly out now I guess.

Good point. Those cars at about 89k dont look so stupid anymore.

 

[FlashingBlade]

Yea, that entire setup was a head scratcher. I am not sure the logic behind limiting the FE to a set number for one region but allow it to be ordered in UK indefinitely until this email announcement.

I think thats part of the problem. I think Lotus want to be moving on to the Emira S and the other varients with probably bigger sticker prices so arent too fussed if people cancel their FE.

 

[nelly111s]

The thing that irks me most, is the complete disregard for deposit dates. There are people on this forum with deposit dates earlier than mine (September 2021), who have put their deposit down and helped Lotus to size their workforce and production capability.

This would’ve been both because Lotus have the cash available and because they know the expected uptake/sales of the cars. The only thing that a customer can control is the date of her deposit, so surely this should have been the overriding factor for the cut off date.

 

[Technicalthunk]

Interested to see how this will pan out

The update video emailed to deposit holders from Matt Windle was clearly a legally binding promise to deposit holders and would supersede the get outs they have on the website mentioning they reserve the right to change things. Me thinks a sharp letter from a solicitor will sort this out

Just watched the video again, there’s a clear commitment that increased costs will not be passed on; “the price you were quoted will be the price you pay for your emira”.

While I fully appreciate that supply, logistics and production costs have increased, in my opinion, a commitment should stand.

 

[CoryC]

Has there been any word or update on first wave North America deliveries? Unofficial word has been another 12 week delay from January production, so first wave builds are now likely late April-May which as we know will EASILY spill into June... are they going to pass this price increase on to first wave depositers here in NA? This seems crazy to me...