The next excuse for all the delays?

[Matthaus]

They need their new roundabout finished

New roundabout could 'unlock' 900 jobs and support Lotus growth

Cash for a new roundabout could help to "unlock" close to 900 new jobs in a Norfolk village.

www.edp24.co.uk

 

[digilotus]

"SNC leader John Fuller said Lotus has in the past failed to produce more than 1,500 cars in a year but the future looked positive for the company."

This years plan was 4,500 cars as of June. Now we're in November and ... on target for less than 1,500 cars.

 

[Matthaus]

"SNC leader John Fuller said Lotus has in the past failed to produce more than 1,500 cars in a year but the future looked positive for the company."

This years plan was 4,500 cars as of June. Now we're in November and ... on target for less than 1,500 cars.

Shameful isn't it.

Yet they claim last year they sold more cars than ever?

Only if they count deposits.

 

[TomE]

"SNC leader John Fuller said Lotus has in the past failed to produce more than 1,500 cars in a year but the future looked positive for the company."

This years plan was 4,500 cars as of June. Now we're in November and ... on target for less than 1,500 cars.

Plan for 2022 was 3,200 cars from May onwards, actual will be more like 300 built and 200 delivered

 

[digilotus]

Plan for 2022 was 3,200 cars from May onwards, actual will be more like 300 built and 200 delivered

Whoops I think we were both wrong, but I guess the story kept changing! 🤷‍♂️

“The original plan was to peak at 5000 a year and we’re now at 7000 a year, so we’ve got an extra 40 per cent capacity. This year we plan to build 4000 cars, next year we’ll be at the peak of 7000 cars.” - MW
https://www.carsales.com.au/editorial/details/lotus-emira-demand-outstripping-supply-135657/ (18 May 2022)

 

[EspritGuy]

Whoops I think we were both wrong, but I guess the story kept changing! 🤷‍♂️

“The original plan was to peak at 5000 a year and we’re now at 7000 a year, so we’ve got an extra 40 per cent capacity. This year we plan to build 4000 cars, next year we’ll be at the peak of 7000 cars.” - MW
https://www.carsales.com.au/editorial/details/lotus-emira-demand-outstripping-supply-135657/ (18 May 2022)

Nothing like starting the year (2023) with a backlog which is now merged into the total.
Fewer drivers will be put into seats but production will be extended farther out (until the next crisis).
Unstated is the depositor impact from rising costs in a recessionary environment.
I hope someone at Lotus is asking the question: how do we hang onto the business we have (and projected)?

 

[DJS]

"SNC leader John Fuller said Lotus has in the past failed to produce more than 1,500 cars in a year but the future looked positive for the company."

This years plan was 4,500 cars as of June. Now we're in November and ... on target for less than 1,500 cars.

Speaking to Lotus last week they said they expect to get 4000 cars out the door for the whole of 2023, that’s way down on the original forecasts.

But hey as always could be miss information.

 

[R1272]

Shameful isn't it.

Yet they claim last year they sold more cars than ever?

Only if they count deposits.

That's exactly what I thought. Deposits aren't sales.

The more I think about it, this could be a perfect storm.

A bunch of frustrated deposit holders that bail because they just don't want to wait 2+ years for a car, interest rates going up making things more expensive for borrowers, and a factory that is struggling(not entirely by their own fault) to produce enough cars daily to even scratch the surface of current demand. Not feeling that great TBH.

I've said it before on this forum. I am Lotus's target. I'm a Porsche driver that's willing to take a shot on this car rather than buy a 992.

For now I'm still hanging in there.

 

[digilotus]

Who knows how all this will play out. The shortage of Emiras being built compounded by inflation driving up Base (and competitor) prices may have a positive effect on resale of Emira FE cars, at least for the first year or so. Unprecedented times ahead!

 

[First Lotus]

My money is on the fact we will never see a second shift. By the time Lotus get their parts/whatever issues sorted, rates will be higher, inflation will drive the price up and deposits will be withdrawn at a rate that don't make sense to up production.
It would be disastrous for lotus if they suddenly got to a situation where supply outstripped demand.

 

[RENDERMAN]

My money is on the fact we will never see a second shift. By the time Lotus get their parts/whatever issues sorted, rates will be higher, inflation will drive the price up and deposits will be withdrawn at a rate that don't make sense to up production.
It would be disastrous for lotus if they suddenly got to a situation where supply outstripped demand.

I pronounce you the new Lotus CEO, please Tom, close this thread!

 

[VTECMatt]

Nothing like starting the year (2023) with a backlog which is now merged into the total.
Fewer drivers will be put into seats but production will be extended farther out (until the next crisis).
Unstated is the depositor impact from rising costs in a recessionary environment.
I hope someone at Lotus is asking the question: how do we hang onto the business we have (and projected)?

Highly unlikely, but they should. As I think it is a huge risk that many buyers pull out month or even weeks before delivery, especially given the current economic climate. May be the U.K. is so small they don’t care or the Emira isn’t that important in the grand scheme of things 🤷‍♂️

Funnily enough I spoke to Ford about my wife’s car in January and they have said they will hold the interest rate as agreed and surprised when I said Lotus wouldn’t. Do we know they are not?

Honda won’t phone me back on my new Type R order on anything so hell knows and Porsche well they just put the price up 🤦‍♂️

 

[Captain.Kirk]

Plan for 2022 was 3,200 cars from May onwards, actual will be more like 300 built and 200 delivered

Here’s my theory: Geely has a dastardly plan to hold Emira production to a bare minimum in the UK and then be justified in moving all production to China because Hethel just hasn’t lived up to their expectations of producing the quantity of cars they said they would. You open the door of your brand new Emira and you read: “Lotus Emira - Proudly Made in Wuhan China”. It would be a sad end of an era but anything could happen when you only own 49% of a company.

 

[0pirates0]

Here’s my theory: Geely has a dastardly plan to hold Emira production to a bare minimum in the UK and then be justified in moving all production to China because Hethel just hasn’t lived up to their expectations of producing the quantity of cars they said they would. You open the door of your brand new Emira and you read: “Lotus Emira - Proudly Made in Wuhan China”. It would be a sad end of an era but anything could happen when you only own 49% of a company.

this wont happen in the next few years at least:
1. Geely and Lotus reached an agreement, details are not clear, but Lotus is still producing gas vehicles in UK while Geely can take the brand name and produce electrical vehicles in China. From the agreement, Lotus UK got a large amount of investment to make itself back to the game.
2. Tbh, if emira was announced to built in Wuhan in 2021 July, we probably are driving them at the moment. That would lead to cheaper parts for repairing as well. Electre was announced in March 2022 and they are already been tested and would reach the market before the end of the year.

 

[CDM1855]

Here’s my theory: Geely has a dastardly plan to hold Emira production to a bare minimum in the UK and then be justified in moving all production to China because Hethel just hasn’t lived up to their expectations of producing the quantity of cars they said they would. You open the door of your brand new Emira and you read: “Lotus Emira - Proudly Made in Wuhan China”. It would be a sad end of an era but anything could happen when you only own 49% of a company.

My suspicion is with the pound looking like shit, It could be a decision has been made to release only a trickle of UK cars mixed with a load of overseas cars, Basically act as a currency arbitrage

With the non-UK cars being a set price and the pound low, they are clearly going to make a bit more money on the offshore cars. This would make sense commercially

 

[Mctaff]

Highly unlikely, but they should. As I think it is a huge risk that many buyers pull out month or even weeks before delivery, especially given the current economic climate. May be the U.K. is so small they don’t care or the Emira isn’t that important in the grand scheme of things 🤷‍♂️

Funnily enough I spoke to Ford about my wife’s car in January and they have said they will hold the interest rate as agreed and surprised when I said Lotus wouldn’t. Do we know they are not?

Honda won’t phone me back on my new Type R order on anything so hell knows and Porsche well they just put the price up 🤦‍♂️

I think Ford has a captive (ie owned by them) finance company, hence can control the rates.

Lotus do not and partner with an external finance provider, who sets the rates, which are out of lotus’ control…. Or a lot less influence anyway

Honestly I think they’re doing well holding the price, but finance rates are definitely getting a bit silly!

 

[Wake]

I’ve never really understood financing a car. The rates have always seemed a bit silly to me. Everyone seems to do it, but every time I’ve looked at the options it always seems like a ridiculous amount of money. Only time I’ve considered it was on a ND mx5 0% Apr 50% upfront and the remaining 50% paid over the 2 year term.

In fact, it lost Toyota a sale on a GR Supra. I said I didn’t want a finance quote but they insisted and wouldn’t let me proceed without sitting down with the finance manager. Seeing in black and white the resale value 2 years down the line made me walk away. Whereas straight after the test drive I woulda signed on the dotted line and transferred the money.

 

[Mctaff]

easy to say if you’re cash rich

But if you’ve only got 20k in hand you can either buy a shit car outright or get something much nicer for 20k down and 500 per month.

 

[kitkat]

I’ve never really understood financing a car. The rates have always seemed a bit silly to me. Everyone seems to do it, but every time I’ve looked at the options it always seems like a ridiculous amount of money. Only time I’ve considered it was on a ND mx5 0% Apr 50% upfront and the remaining 50% paid over the 2 year term.

In fact, it lost Toyota a sale on a GR Supra. I said I didn’t want a finance quote but they insisted and wouldn’t let me proceed without sitting down with the finance manager. Seeing in black and white the resale value 2 years down the line made me walk away. Whereas straight after the test drive I woulda signed on the dotted line and transferred the money.

Up until recently for it was 20% YoY ROI with my money and 2.5% APR on car loans, bit of a no brainer in the US. The situation has changed.

 

[Wake]

easy to say if you’re cash rich

But if you’ve only got 20k in hand you can either buy a shit car outright or get something much nicer for 20k down and 500 per month.

This is the first time I’ve been in this position (and likely never will be again). I would always have preferred a 20k car that I own, rather than one 2-3 times it’s price that I would have to give back in X number of years time.