Emira Market Watch, for discussion and to help those searching!

[C8RKH]

@oakman some of the issues are down to the well publicised international problems. However, the Emira was effectively a year late, and promises were made, and subsequently broken re pricing.  When launched the Emira was a mighty attractive and very tempting proposition at the price point it was promised at. However, the price has risen significantly and I do believe that this, along with what for many new owners/prospective new owners has been quite a shambolic "sales" experience, has resulted in a fair few people pulling their orders.

The I4 is further delayed, and I am sure prices will rise again before the end of the year. 

Compare all of that with what the Chinese arm of Lotus (basically Geely) has achieved with the Eletre. Launched on time, slight delay to first order deliveries but absolutely bang on the money apparently in terms of dynamics and performance, build quality, design AND no surprises around pricing.

Lotus in the UK on the other hand has attempted to launch the Emira, change the dealer/customer model, introduce a new buying process and, to be frank, it's performance can be likened in many ways to that of the Local Defense Volunteers Platoon from Walmington-On-Sea. A bit harsh maybe, but it certainly hasn't been an SAS operation - swift, well planned and executed.

It's totally put me off buying a new Emira. I'll wait and get one at three years and all the issues sorted, especially with the new tech. Fab looking car though and at the original pricing, a bloody superb proposition. Another missed opportunity.

[OakMan]

I must admit to not having followed the Emira situation as closely as I had bought my Gt430 not long before it was announced.  At that time I looked at the specifications of the launch edition V6 and quickly realised it offers less than what I had got, being heavier and slightly less powerful.   I had overlooked the additional year long delay.  The pricing is a very major issue, people being given a price scale but it then jumping dramatically is so not right.  I also find the move to the 'dealers' appearing to be no more than order takers and servicing agents very strange, there's not much incentive for them to handle any warranty issues if they had no profits in selling the cars.

I like you would wait to see where they are in three years or so time.  With me having the 430 Evora they have a bit of way to get close to that - it may not even be on their agenda.  There seemed from the start to be plenty of room to 'lighten' an Emira, at extra cost with carbon panels, lightweight seats etc.  We know more safe power is available with the V6 motor if only to 430bhp.  

The i4 AMG engine can go to significantly more power as well documented on the internet, the holdback in Emira appears to be cooling issues on this car. 

I liked your simile to Walmington-On-Sea 😄

All I can say is "Don't Panic" 

 

[exeterjeep]

See on AT, Lotus now have 8 Emira's listed,

https://www.autotrader.co.uk/dealers/lotuscars-com-10038407?channel=cars

Assume these are cancelled orders, so along with the ones in Exeter, AT has 11 cars within 5 miles of my postcode. 

[DarrylV8]

Thought you might be picking up a bargain Keith, till I saw the price 

[purso]

They are now getting into the 60s as a retail perspective which does make them an interesting proposition.  The launch spec has added to the perfect storm it has handicapped the car as it has reduced the variables so why wouldnt somebody buy a 300 mile car instead of waiting and paying more.

[LotusLeftLotusRight]

I spotted a March 2023 2000 mile V6 Manual First Edition at a scruffy local independent second-hand car dealer yesterday. On their website photos, they haven’t even bothered to clean the wheels. They want £80k for it. Good luck with that: it’s about £10k more than the current market price.

[Morty]

Hi  is this thread still active … it’s gone very quiet    Thanks 

[C8RKH]

The only new car people want to talk about on here is the Eletre!

62 cars on Autotrader with a starting price of just under £69K.

26 Evora's with a highest price of £74,990.

It would seem that the oft foretold "crashing" of Evora prices as a result of the Emira launch still hasn't happened. Indeed the the GT410's seem to be holding their value much better than the Emira's.

The used car market is a strange one.

[jep]

Hard to keep up with the amount of Emira for sale. That's no bad thing but there's not much to say about basically new cars with low miles.

Market discussions tend to be more interesting with regard older cars (previous owners, forum members, unusual spec, particularly low mileage, modded, etc etc)

Justin 

[Rambo]

4 hours ago, C8RKH said:

The only new car people want to talk about on here is the Eletre!

Yeah but they all, except no one, suffer from "range anxiety" 🤣

[Matt W]

Just dropped my Exige off for warranty work and was looking on the forecourt, Pre reg Emira seem to be £90k+, with autos going for £93k. On Auto trader you can buy the same with very low mileage for £75k. You'd need to be insane to buy a new one. 

[Bibs]

That's been the same for a very long time, Lotus aren't reinventing the wheel and every forcecourt has been the same for most OEM's. 

People still buy news ones though. They must just like that new car smell

 

 

[jep]

Praise be for those that do buy new cars. They've saved me a lot of dosh over the last 40 years. 🙂

[C8RKH]

Agreed.

[Morty]

The price seems to be settling between £70k and £73k after an initial sharp depreciation. Hard to pick one up for less than that… roughly where the GT410 Sport was 12-18 months ago …

[C8RKH]

Two currently for sale on Autotrader for under £70k.

Three on Pistonheads.

I think the main issue is the number of "2nd hand" Emira's, and cancelled factory orders, that are hitting the market. 

Several Emira's have been on the market for a long time, one is down in price 11% since first listed 7 months ago. So the question is are they selling? And the numbers on the market are slowly increasing. So both those things would suggest the price is going one way.

Evora's - 29 in total on Autotrader, Emira's - 61

Evora's - 28 in total on Pistonheads, Emira's 32

A lot of people on here were predicting that Evora prices would crash on the launch of the Emira, and the Emira would be sold for "overs" - well, that didn't really happen did it?

Emira's I think, are depreciating faster but that could be because more supply, so more choice.

Good news for me for when I decide to buy an Emira   Preferably a V6 auto in red as a DD.

 

 

[Nick Sticks]

They are selling off the forecourt as I know of one being readied for collection at the local Lotus dealer.
Even with not that many options available the combination I want is still not out there either cancelled new on the forecourts or second-hand so I am buying new to order and probably would have anyway.

[C8RKH]

25 minutes ago, Nick Sticks said:

They are selling off the forecourt as I know of one being readied for collection at the local Lotus dealer.

Which does make you wonder why Lotus chose to go all in with the buy from the factory only agency model, doesn't it?

Several members on here have recently compromised on their prefered colour/spec and bought new, off the forecourt, from cancelled orders as (1) it meant they could actually get in one and (2) there was a healthy price discount over list.

Again, why Lotus decided to move, wholesale away from the dealers, and set up their own disastrous in-house department just beggars belief. However, I am sure the accountants and bean counters thought it would be a great way to stop letting dealers make money, and Lotus keen more of it.

You had some superb, and I mean superb, dealers like B&C, Silverstone, and several others who were, and are, a real credit and asset to the brand and I am sure they would have shifted many more cars if they had been allowed to do what they do best, and deal with customers from the start, to the end, of the buying process.

"Lotus 2.0 - For the Bean Counters"

[Nick Sticks]

Indeed. I drove a manual/sports and an auto/touring from the local dealer but then had to order from the factory.
I'm planning on keeping mine for a very long time so I didn't want to compromise on the spec.

Plus there are non-Lotus dealers that are buying these cancelled new Emiras and selling them which further takes sales from the proper Lotus dealers.

[exeterjeep]

A FB post I have just read says    - after all First edition can't be the final edition as well.....

V6 FE production has stopped no more will be made, just the i4FE models! This makes sense as FE models can’t continue forever although I do think Lotus should honour their current orders they were happy to take but that’s another story, the V6 of course will be made again soon but won’t be an FE edition.

 

[C8RKH]

The First Edition ends as we move to the Final Edition 

Better order those FE badges lol....

I so want to see a GT430 edition - I doubt Lotus would go higher than that.

[Al]

I was told that FB message from our local dealer at end of last week.  Mind you it may be stopped as there is a load of i4 people who have been on order since the get go who will be hoping to see a car before some who may have joined the V6 queue well after them so I guess it kinda makes sense.  Turn the line over to long term deposit holders of i4 then take stock and bring out the S versions etc. etc. before finally calling it a day.

[webfoot]

Not sure that the FB post can be accurate.  There are still people waiting for V6 FE cars and currently you can still order one.  As mentioned might just be they are making a batch of i4s.

[Beady]

After cancelling my Emira deposit in Feb 23, i am now back in!

Had a great year in a 2018 Vantage but still miss the Lotus handling and a Manual box so on Saturday I am collecting a 73 plate pre-registered car with almost no miles car at a good price.

I have noticed a few similar 'older' 73 plates have sold recently and the new ones coming on the market seemed to be priced a little higher. In contrast the 23 plates with low miles seem to be stalling as the extra cost for a 73 plate (essentially new car) is quite small. 

Collecting Saturday so pics to follow - excited ! Good to be back!

  

 

 

[LotusFella]

Do you think with the success of the Emira, and it is a success. Do you think it will increase values of the Evora?