The New Lotus Emira is DEPRECIATING...FAST!!
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- Опубликовано: 27 окт 2023
- Lotus initially marketed the Emira with an Entry price point under £60k that has yet to be realised! To-Date the cheapest new Emira is the AMG based I4 with a Base Price of £81,495 and with over 60 Lotus Emira’s being advertised for sale priced from £69k, you have to ask yourself…Why Buy a New Lotus Emira?!
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Lotus initially marketed the Emira with an Entry price point under £60k that has yet to be realised! To-Date the cheapest new Emira is the AMG based I4 with a Base Price of £81,495 and with over 60 Lotus Emira’s being advertised for sale priced from £69k, you have to ask yourself…Why Buy a New Lotus Emira?!
What's your thoughts?...
thought is simple, buy used or realise the car has been a mitigated disaster and it simply is NOT an exciting car, its no better and IMO worse overall than a cayman gts.... a much more solid, nicer sounding, much better built car.
If you are really interested in the car, why dont you buy one? These are not flippers cars, these are cars bought by people who like me see the car is no where near as good as people thought it would be. 4 recalls in 6 months! Do you think any other manufacturer outside the UK would ever do this? Ive driven the car, Ive owned the car, its not worth more than 60k...simple. Take the 69k car, make a bid and buy it, why keep talking about it? Just do it or move on.
@@garymurrayamaybe he hasn’t got the spare dosh
As I detailed in the video…why buy now when they are still on the decline?!
well, the lowest priced ones have not dropped in a few months now and they wont go much more until next year or after reg change next year. Every car is on the decline, but I think 66/7 is as low as they are going for the next few months.... or what are you expecting, 60? @@RichReviews_
There is time to be patient…
74 cars for sale second hand on Autotrader the majority from dealers who were trying to make a quick buck on early deposits. Over 30 cars are priced higher than my factory addition 1. purchase price. 3 months in and not a single problem with my car its absolutely incredible. I'm lucky for the reason my car will stay garaged over the years with barley a thousand miles going on a year. 10 years from now with everyone in electric cars ill be happily making noise in my V6..
Great sentiment but for me I do not believe we will all be driving electric cars in 10 years.
The rest of the world doesn't drive electric. Only USA is pushing this garbage.
Sorry the question to ask is are you certain you will be here 30yrs from now ?
Brother prepare for the hereafter.
It will hold value thats why many are collecting pre 2030. ICE will always be more valuable
The final year (2026?) will be worth more and fewer issues like door seals etc
I was never convinced that they could manage that 60-70k promise.
Had they been able to, their only competitor would have been the Supra (Toyota vs Toyota essentially)
But once you creep into the 100+ market (in America) you’ve got some heavy breath on your neck from Porsche and even some used low mileage super cars. It’s just not the space you want to be in when you’re already pressed for sales.
Nissan is no exception.
How is it Toyota vs Toyota? The Emira has a Toyota V6 and the Supra has a BMW I6.
Agreed. For $100k i’m picking up an Aston Martin Vantage every single time. Lotus got greedy
They have yet to sell one Emira in the US. Price isn't even the concern.
Excellent presentation and analysis. Well done.
Thank you
I have always said never buy something that is new on the market especially a car. Be patient and wait till the used car market for it opens up. And manufacturers always make improvements and expand the model range. Look at the Esprit, Evora, Elise and Exige. Real world driving finds the quirks also. Too many people let their emotions get ahead of their decision making. You may find you like the later model too.
Thank you.
Thank you .. really interesting. Really want one but now will wait.
If you don’t hanker after a new car handover wait until after Christmas and get a great deal.
Cancelled my order a few months back…glad I did now. Shame, as it’s a lovely looking car that has all the ingredients to rebuild the LOTUS brand and repair its reputation…🙄
Agree, it’s not the car it’s the manufacturer. They just weren’t/aren’t geared up to sell and support a high profile car.
First of Feb today and yes while there are lots of the V6 cars available on resale sites,mostly manuals with a few automatics, I have yet to see a single i4 for sale.
Interesting that the last edition Exige 390 is around the price of a second hand Emira.
I was going to buy the car based on the predicted price from Lotus. Then it came out and it was over $100 K with only 400 HP. They lied and showed us (especially deposited holder) that they are dishonest. It’s a shame because it’s a gorgeous car, until the price comes down I’ll stick to what I have.
Buy used and let someone else lose on the depreciation.
@@davebarkley8773 makes sense but I buy new unless it’s under 10k miles. Too many tuners these days that don’t tune right
Sucked in to the car flippers. They took a car that someone genuinely wanted. Now they've lost money on it.
Also I think people are selling because they're starting to discover the issues with it. Leaking windows, boot lid dropping water into the boot, dodgy entertainment system.
Price is way too high. I remember my 2006 lotus exige and saying all this power, and look for this price was amazing. Now it seems that Lotus went against what once was!
No lotus agency at Mexico. There is Maserati and sells the Emira v6 for about us$150,000
Both the v6 and the AMG versions of the Emira appear to have very conservative tunings. A quick aftermarket tune will give you great responsiveness. Heat is NOT the issue... These cars will pull timing/fuel if the engine starts to overheat... This is as you say definitely due to not competing with later specced cars.... The v6 can easily hit 500 hp. The AMG can hit 600-700 with just aftermarket tuning.... The AMG for 50-70k with an aftermarket tune is going to be absolutely fantastic with the dual clutch... I currently own a V6 94 mr2... I'll be keeping that vehicle until I get the amg emira in a few years... It's going to be fantastic.
wouldn’t that be more stressful on amg v4. You can easily put out 600hp with v6 variants with 20k of mods, however I would change transmission as well if I go over 500. Tbh I think 500 would perfect
Total bs on 600-700 without E85 and alot more boost which will kill reliability. It already runs a ton of boost
I'm Moroccan who live in Morocco, i love it this amazing looking car, i will work hard from now to buy one in one year or 2 years at max, lotus will be available in Morocco or i must to imported . ?
I would recommend you research your closest Lotus dealership and ask if Lotus sell to Morocco. Lotus now only sell direct so you could also drop Lotus an email and ask them direct.
I had two cars on order, The 1st Edition and the i4 but the price hike (lets face it it was a massive increase) and Lotus could give a justification for it. Hence I asked for my money back. But one month later Lotus were trying to sell a pre built car!!! They must have a ton of cancelled orders.
I believe many dealers are storing cancelled cars at the moment.
I am now looking at getting a Corvette C8, the UK dear is cutting prices, they were going for £106k and just seen a new car going for £89K. Plus its a V8 @@RichReviews_
@@RichReviews_ When they come down to £50K then might be worth it - shame that the flippers are getting burned (not)
@@simoningate2056 55k next early spring/ summer
Wow, already blood in the street. I see it differently from a drivers pov....this is one of the best driving/looking cars in production at any price point. Im happy to pay to play at 100k us. The i4 is the one to get imo. No way lotus released this car at maximum IAT. Definitely a few psi to be had on boost. Im gonna drive this car the way it was intended!! Lotus changed my spec after the full deposit which tells me they are looking to satisfy rather than disappoint. If you can jump on this 10k less, all the better!
V6 is so much better. Just buy a soulless Porsche.
Yup, you can pick up a stunning red 2022 718 GTS for under £65k in AutoTrader, so not exactly immune from depreciation either.
@@manuelpiston Porsche lacks the communicative steering of the Lotus. Some people prefer paddle shifts.
I love your positivity towards this situation, giving the Emira the respect it deserves - no matter the price - as one of the purest driver's cars around today.
I'm with you. I'm all for this. Waiting for non 1st edition.
The Emira doesn't make much sense in the U.S. ,when you can get a C6 Z06 for less than half the price. The Corvette is as light and much faster. The feel might not be as good tho. I thought about ordering an Emira , until they jacked the price up to around 107k in the U.S.
Yes the price hikes in the UK have left many would be customers very bitter.
@@RichReviews_ Not a very good business model.
I guess the price increase was always going to happen but increasing prices for depositors when they had promised that would not happen is not a great approach to win customers over.
@@RichReviews_ They might have got overwhelmed by orders and needed to slow them down, but if that's the case, why are they raising the prices on people that already ordered them?
I'm good with my Supercharged C7 Corvette Z51 with a 7 spd Manual 👍
Yes agreed...many depositors cancelled their orders based on that decision.
I have a surplus of passion and deficit of dollars. I just wait for this to depreciate to about $45k before I can afford it.
Great caption!...😃...Hope your dream comes true for you.
Actually, I suspect that the price hike is due to the covid pandemic. Almost as soon as the car was announced, and they were building their new production facility, covid came alone and delayed everything…not just Lotus, but also all the component suppliers. Many people who had placed orders also found themselves at home on reduced income. Lotus would have been between a rock and a hard place….A new build facility to pay for…but no car buyers because the component suppliers could not deliver..and had hugely upped their prices as well. I don’t think Lotus set out to be deceitful..I think that they, like many others, were caught out by circumstances.
Yes I believe I mention this.
May 2024 - Here in California, Edition 1(2.0) V6 cars for sale at about $107k. A few sitting on dealer lots. Cars customers ordered 8 months ago, and backed out of.
Wow that’s not good!
Thanks for the update.
Where do you see these cars? I can't find a single Emira anywhere in California.
UK market
@@degigi2003 A few weeks ago ... Lotus of Orange (actually Newport Beach). Had three 1st Editions.
All 6spd. All Touring Supension..
All $107 - 109k
Here in Switzerland they are asking CHF 120.000 for the V6 1st Edition... :)
Wow, that is around £108k so circa 23k more than UK base price!
That is insane
Here in Spain it's also 108K Euro, way more expensive than a Porsche Cayman. Such a pitty
@@shimeji_app lol EU are full of Green party politicians. Stealing your taxes. Theres no reason for cars to be that much more expensive in rich countries like Switzerland. Maybe Spain economy is pants..either way gdp is not low...Sorry but your politicians are thieves.
Lotus salesman tells me 2/3rds of cancelled orders are from speculation types...same with cancelled orders on Porsche Turbos now....bread and butter sports cars back to the old days of loosing the VAT as soon as leaving the showroom. 10,12,15% APR compounding the reticence 😮
Yes agree, many hoped to get them early and capitalise on a profit but delays and increased interest rates put an end to any profit.
Yep their depreciating quickly. All cars are depreciating on the quick side too no mater what country your in. In my case I don't care because the Emira I'm ordering and the way I plan to drive it, I'll have, for the most part, destroyed within a year or so.
Would be interested in how you get on…please keep me informed. Good luck! 🤞
I think come january there will be some serious panic selling lol. People did buy them to flip expecting the covid highs to remain and its going the other way, dealers included.
Can’t even buy one in the US.
Wow
Holy sh*t is that a supreme jumper 😮 the drip isreal
😂😂😂👍
If the Emira replaces the Evora what replaces the Exige? only one option is looney. a $60K stripped down Exige would've been a better way to go. The Chi-com suv that Lotus is making looks like its going to destroy the brands reputation on top of delays on Emira.
Lotus designs great cars. Now they just need to learn how to actually make them.
I believe that even though they knew the Emira would take off they did not expect quite how popular it would be in the early days due to 'CoVid Overs' and were far from ready with internal legacy processes to manage the demand. In addition, moving Sales to be centrally controlled was a crazy idea especially when releasing a new popular model.
@@RichReviews_In which case, demand outstrips demand, so the prices stay high. Looking at this 3 months later, there are none below 70K.
55k next May/June
I really wonder how the US market will respond. I have had my $3000 deposit down since release... unfortunately it can't be refunded and I can't sell my allocation to another buyer; I'd have to forfeit the $3k
Interesting that your deposit has to be forfeited...this is not the case in the UK until you sign the final acceptance and pay the final full amount.
@@RichReviews_I think it's dealer dependant. Mine is refundable
In the U.K. they only sell from Lotus, dealer centric sales model
@@RichReviews_ must be nice. There has been talk of removing the dealer model here due to greediness and "market adjustments"
So are you buying a new Lotus as an investment or as a sports car you want to own & drive...???
Extremely low mileage now at £65000! Unbelievable when you consider how 911 Targas and similar Porsche, older than my teenage son, hold value. I am though very tempted but, having sat in one, kicked tires, not so sure. Does not sit quite right.
Definitely wait until you’re sure before you purchase. They sure have plummeted though! But there are other great cars around that price mark (or just above), have you considered a facelift R8?
Not really liking the R8. The exotic shape of the Emira , and scarcity turned my head tbh. I intend to wait a little longer, not really to get it cheaper, but to read some owners reviews and see what they reckon. Amazing looking car and at the end of the day, the true cost of any car is “purchase price - selling price”. Existing depreciation is working nicely for me!
@@markmattison9510 looking at next spring for 55k emiras
I hope the USA Market responds the same. Buying one for sure.
Good luck
80 for sale 65-75k first edition .
Wow
112
??
@@RichReviews_ 112 emiras for sale on auto trader
sub 50k is unlikely ocnsidering Evoras are still as high as 60k
Going by current trends, it’s possible.
@@RichReviews_ You're wrong. The cheapest in the UK is currently £68K. You're just bitter about not getting your car and sticking the boot in out of hubris. Lotus lose their VAT then depreciate slowly from there on.
Why would I possibly be bitter about not getting a car when I can buy one used for £20,000 under list and skip the waiting list? It just proves I made the right choice.
@@EvoraGT430 theyll be 55k by next spring lol...they won't much below that though due to Evoras and new shoppers
It's a twin scroll turbocharger not twin turbochargers
Yes it’s corrected in text…noticed during edit.
Lotus is just a marketing disaster. Poor timing, strategy and pricing for such a wonderful drivers car.
Yes and IMO a massive flaw in removing sales from dealers to a direct model....crazy.
Not a lot of sympathy for those who speculated on ‘overs’ . What happened to buying a car because it was a car you wanted to drive.. it’s the same in the watch industry-people wanting to make a quick buck.So many cars with tiny milages bear this out.
If you have a sizeable mortgage where an interest rate hike is going to affect you so badly, you obviously shouldn’t be buying cars you can’t afford. People blew ‘bounce back’ loans, overstretched and signed up to ‘have it now’ finance on luxury items they simply couldn’t afford with the rises in everyday costs ..The fact that there’s so many for sale at once is further pushing down the price on what us a very very good car. Those with 60k cash ( disposable !) can hold their nerve and get a great deal in due course as people panic to get out of them. (Lotus ‘have form’ for price re-alignment mid run too (see 2008 Europa S/SE) which left early adopters seething and killed values). Reputational damage as a ‘bad purchase’ despite there being not much wrong with the product won’t help.
Late to the conversation here, but for the life of me, I never understood why anyone would pick this over an F-type, which sells for less, and isnt a kit car.
Very different cars designed for different uses.
@@RichReviews_ If you're tracking the Emira, I get it. But if you're not, no contest.
@@DDd-hr6mz I have a 21' F-type R and love it, but am considering an Emira for the engagement that the Jag lacks (the manual and driving characteristics). End of the day, ones a GT car and the other a dedicated sports car you can daily - it's really just a preference.
@@lwdn3379 if that's your preference, great. But you'll be dealing with a sketchy car (even by JLR standards) and an even thinner dealer and service network.
C8 is way better bang for your buck and it keeps up with the entry level lambos and ferraris(not the newest ones like the 296 gtb). It was between the c8 or the emira for me but i ended up picking the C8 due to usability, accessibility, practically and on paper performance. It did not disappoint.
I respect your choice, and I agree with your points. I just hate the way the C8 looks. It's hideous to me, and I just can't get on the looks. Otherwise, the C8 is a great car. But the looks have to be there for me to be seriously interested.
C8 is better in every way possible except it’s styling
C8 is the better performer but the Emira is more ‘pure’ and raw with the v6 and manual
If you no longer care about being a top dog sportcar. lotus is better looking and more fun to drive. For the guys who cant wrench. Lotus do have a lot of problems and parts may be an issue when it comes to maintenance. I can live with all the flaws. Cant wait for it to be really cheap in used car market
Relatively they are now ‘cheap’ when compared with a new order.
You are just talking the market down which is bad in the long term. Its a great car with a few teething problems.Why don't you research the solutions instead.Prices will stabilise and increase in the spring. All cars in this price bracket including Porsche have dropped but will recover to some degree.
Please explain how I am talking the market down?
Did you even watch?
It quite shocking what these charlatans did with their sneaky pricing strategy. Feel sorry for all those who fell into their trap. It was a deliberate and wilful price discrimination which CMA should investigate. Criminals at Lotus. I am soo glad i bought a light beautiful Alpine A110 fully spec at £57k.
Very nice car, but not immune from depreciation either - cheapest one on AutoTrader is a 2020 at a tempting £37k!
Yet another whiney Alpine driver.
Blah-Blah-Blah...The whiny cry boys (& seemingly their chums...) who all bought Emira First Editions thinking they'd cash-in on a quick flip resale value ...😆
It isn’t restricted to the Emira, all the prices are dropping significantly, particularly the 991/2 GT2/3/Turbo and Cayman GT4/RS. Buy a car because you like it, and enjoy driving it. The market is now very different and there are good bargains to be had at every price point it seems.
The Alpine doesn’t compare. Driven them both and it’s outclassed
One word corvette
about as unique as a Camry in the states too.
Big con big failure