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

[marcfair]

More reductions £78490 starting price now on autotrader

 

Edited May 15, 2023 by marcfair

[exeterjeep]

Hendy Exeter have a new V6 auto - blue/black pack - available for immediate delivery according to their Instagram     (I hate Instagram - it is not organised/time stamped..)

 

 

[marcfair]

https://www.pistonheads.com/buy/listing/15116018

Good luck with this one asking £90k 😁

[MaJiK]

Any deals on autos knocking about? 😃

Edited June 5, 2023 by MaJiK

[exeterjeep]

Just seen this post from Lotus Silverstone....

popped in to see one of our used Lotus' and walked out with a new Emira from our operating stock!

Looks as if you wanted an Emira and were not too fussy about exact spec then delivery can be really quick...

[Jcx]

Yes. Aimee at Lotus Silverstone explained to me that all dealers  have ’operating stock’ which I took to be ‘cancelled orders’ that Lotus Cars pushes out to dealers. I saw a Seneca Blue car with Red leather in there all ready to go. 

[marcfair]

It would be great if they have operating stock of base editions when / if we eventually  see them 😀 

[Jon Fuller]

Loads of stock at Bell & Colvill today.

 

 

[Morty]

Lovely…

I can’t believe now down to £74k on Autotrader ! 

[pete]

From Facebook

[Bibs]

New car depreciation shocker!!

They'll be £40k in 3/4 years and probably like the previous cars, that's where they'll stay but almost  everything drops in value when used. P/ex is never an efficient way to sell a car, they dealer does need to retail the car on and make a profit too. 

[C8RKH]

These were never cars that were going to hold strong residuals. You're moving into "mass market" arenas now (for sports cars) and so values will move accordingly. It'll stabilise as right now the car market seems a bit flat. But I must admit a £20-25k kick in the teeth after 5 months would hurt. But then I'm a tight arsed git. Assuming that dealer is B&C and he is trading up to a Macca.

Lovely spec though, so maybe I should make a cheeky offer of £65k..... lol.

[Barrykearley]

How long until the first sub £50k one appears on autotrader I wonder. 

[KennyN]

It's hardly surprising that the PX offer isn't impressive, given the number available on the market that do not seem to be selling anytime soon and the well-documented ongoing issues.  That said, if they can get the issues ironed out I could be tempted back into an Emira at £40'ish k when the time comes.

It could be worse, I know someone who bought a highly specced McLaren 720s for a fair chunk of change over £250k when it was new. However, when he tried to trade it in 18 months later with only a couple of thousand miles on it, he struggled to receive an offer of £160k. Needless to say, he still owns the car, and his wife believes it's still worth something close to the original purchase price. 🤣

[C8RKH]

@KennyN - and in your description is the rub - "highly specced" - so what £50k of extras? So you can right them off almost straight away from any future sale price. Also, McLaren has had an oversupply issue at times which has seen it push out more cars than dealers could sell, forcing the dealers to take them, and that meant some substantial discounts on new cars had been available. None of that helps at resale time and dare I say it but Lotus could be going down a similar route.

@Barrykearley I doubt you will see an Emira at under £50k for quite some time. You'll just have to be patient lol. However, I could see them at £60-65k by the end of the year. But then at that price, a new Alpine A110 would surely be the more sensible purchase.

[Bibs]

42 minutes ago, KennyN said:

his wife believes it's still worth something close to the original purchase price

Did her tell her it only cost £160k in the first place

[exeterjeep]

Tom Hartley still has the 72? plate one that was one of the first flipped, so he must have paid over the odds for it, and still listed at close to £92k. He'll have to reduce its price.  There does not seem, to be a shortage of low mileage Emira's around.

Can't see them getting down to under £50k for at least 18 months - except for a cat C/S.  

Hendy had a new V6 auto at £91k, when I spoke to them I said they would never sell it at that price, has been reduced by just over 1k - not enough IMHO.

Around 3 years ago Howards had an new Evora, that was originally listed just over £100k, was then at £79k when I went to see it, it was finally sold when the price was reduced to £75k.

[JimH]

10 hours ago, Bibs said:

New car depreciation shocker!!

They'll be £40k in 3/4 years and probably like the previous cars, that's where they'll stay but almost  everything drops in value when used. P/ex is never an efficient way to sell a car, they dealer does need to retail the car on and make a profit too. 

Apparently official dealers (sorry - sales agents) have access to ~70 cars already built and sitting at Hethel as a result of cancelled orders, which can and does happen under the current "able to cancel and refund until final invoice issued" UK direct sales process, and are probably discouraging trade-ins on that basis. This could be artificially supressing trade-in values for now, at least.......

[Rambo]

Simple Adam Smith supply and demand economics in action.

 

[Greyvora]

Sub £70k (just) - is this the cheapest one yet for sale?

Used LOTUS EMIRA (131) V6 FIRST EDITION 2022 for sale - PistonHeads UK

 

[marcfair]

I see the lotus factory is advertising  new emiras on Pistonheads 

[JimH]

https://www.pistonheads.com/classifieds/dealer/983400

Cancelled orders, presumably......

[OakMan]

Two of them with the white leather interior - very practical.  
 

I forgot to add there are more Emira for sale on PH than Evora.  

[390ja]

I’ve seen several dealers are advertising unregistered stock for sale recently. Can’t be a great sign for the immediate values.
It really has been the perfect storm against lotus. Supply shortages pushing sales back into economic instability and interest rate rises. Now, inevitably, the recently inflated car market is feeling the pinch of all those factors and slowing. Plus a few “lotusisms” of build niggles thrown in for good measure.

Lotus wouldn’t be Lotus without drama though. 
I’ve sadly just cancelled my i4 order due to none of the above. When faced with the final ordering process I’ve decided I need the option to take the roof off my sport car 😕

[OakMan]

What saddens me for the UK sports car side of the new Lotus company, is the combined effects of all these international problems.  I know these are different times, but it has strong resonances for me of the M100 Elan situation in the late 1980's early '90's. 

That in effect was the right car for that period of time, with the immense popularity of front wheel drive hot hatchbacks having replaced the demand for 'traditional sports cars'.  Lotus with GM's backing prepared a front drive convertible sports car that was a great alternative for the hot hatch buyer of the time, a lot more money mind you but it was from a prestigious sports car maker.  Not to forget Lotus had stacks of engineering expertise in getting FWD car chassis to perform for other major manufacturers. 

It arrived late to the party allied to the economic downturn in the late 80's early 90's that M100 launched in.  They had production and supply issues as well, coinciding with the economic situation, inevitably demand just fell away.  I remember driving one of Peter Smiths demonstrators at the time, the turbo model, it was great, my daily hack was a MKII Golf Gti, just the target market.  It certainly was so dynamically superior, they had nailed the brief for a superior FWD hot hatch alternative.  I still have my Elan Sprint that I had then, it wouldn't have persuaded me to have swapped it for one though. 

There was also another factor to consider as well the Mazda Mx5/Miata launched, well cloned from classic Lotus Elan DNA - going on to be the worlds most successfully selling two seater sports convertible. Major competition at much less money.

Unfortunately it arrived late to the party with the economic downturn of the late 80's early 90's the Elan launched in, they had production and supply issues as well, inevitably demand just fell away.  I remember driving one of Peter Smiths demonstrators at the time, the turbo model, it was great, my daily hack was a MKII Golf Gti, just the target market.  It certainly was so dynamically superior, thy had named the brief for a superior FWD hot hatch alternative.  I still have my Elan Sprint I had then, it wouldn't have persuaded me to have swapped it for one at the time, as it felt like I was getting a convertible sports hot hatch.  

Just to add, I haven't yet had the pleasure of driving an Emira and am no way making any remotely similar driving comparisons to above.  With the Emira Lotus have striven to make an exceptional alternative to Porsche Cayman buyers, for increased market share, I shan't include Boxster as there is no convertible Emira.  They have aimed at providing a more luxurious interior with appropriate tech and seemingly got it right.  The biggest problem is the enforced price increases, where a non 6 cylinder Caymen is drastically less money, even after the usual Porschefest of extras that Lotus do not do.  There are always niggles with any new cars, from my experience other well celebrated marks have plenty enough of them - its just that their owners don't like to broadcast them so obviously.