How long till the £20k Evora?
Discussion
Apparently when people have enquired they’ve not been the best. I immediately discounted that car when looking even though my original budget was £25k (which I later increased to get the later S model).
As soon as you start looking on forums such as this you see it’s changed hands privately and then the current seller has had it and it’s been dropped and then increased since.
Good cars always sell fast.
As soon as you start looking on forums such as this you see it’s changed hands privately and then the current seller has had it and it’s been dropped and then increased since.
Good cars always sell fast.
Well what do we think of today’s announcement? This is the last year of production for the Evora.
Rumours are the Type 131 will start at 400bhp for around £60k next year, to me that undercuts new Evoras and will squeeze second hand prices downward.
However the Elise isn’t being replaced so maybe prices of those will continue to hold/rise.
I might be in my second Evora in 12 months time
Rumours are the Type 131 will start at 400bhp for around £60k next year, to me that undercuts new Evoras and will squeeze second hand prices downward.
However the Elise isn’t being replaced so maybe prices of those will continue to hold/rise.
I might be in my second Evora in 12 months time
The announcement of 3 new cars based on the Type 131 platform isn't going to affect Evora values at the low end of the market, which is what this thread is about. They've said the new cars will be £55k upwards - that won't be an Evora equivalent though. Not a chance.
If anything I'd expect used values to rise for sub £30k cars, due to the fact that the Evora is won't be in production any more and it offers something unique - a great value sonorous 3.5L V6 in a 2+2 format with sublime handling and ride.
I do think that used 400 / 410 Sport / GT410 values will take a hit though.
If anything I'd expect used values to rise for sub £30k cars, due to the fact that the Evora is won't be in production any more and it offers something unique - a great value sonorous 3.5L V6 in a 2+2 format with sublime handling and ride.
I do think that used 400 / 410 Sport / GT410 values will take a hit though.
I don’t agree about the Evora holding its value in the face of the new car.
The Type 131 has to be a serious step forward for Lotus, it MUST make the now 12 year old Evora look dated and correct it’s shortcomings otherwise the company is going nowhere. They’ve spent millions developing the new car, and it had better show!
This will force the newer cars down in price, and the older cars will fall too.
I’m not saying it will be a collapse - there will still be restricted supply and all the factors that make them special now will still be true. However I can well see Evora 400’s in the £30-£40k bracket in 18 months and LE’s regularly appearing in the £15-20k bracket.
That’s my view anyway. However I’ll admit I was wrong about prices when I started this thread and could well be again!
The Type 131 has to be a serious step forward for Lotus, it MUST make the now 12 year old Evora look dated and correct it’s shortcomings otherwise the company is going nowhere. They’ve spent millions developing the new car, and it had better show!
This will force the newer cars down in price, and the older cars will fall too.
I’m not saying it will be a collapse - there will still be restricted supply and all the factors that make them special now will still be true. However I can well see Evora 400’s in the £30-£40k bracket in 18 months and LE’s regularly appearing in the £15-20k bracket.
That’s my view anyway. However I’ll admit I was wrong about prices when I started this thread and could well be again!
i'd say there are two forces fighting each other:
- yes, a new model increases depreciation of outgoing one
- but with Lotus being a forgotten brand, renewed interest from a (successful) new model will raise demand for limited supply older cars.
in the worst case an Evora would merely follow a more conventional depreciation curve, and not 'tank'.
- yes, a new model increases depreciation of outgoing one
- but with Lotus being a forgotten brand, renewed interest from a (successful) new model will raise demand for limited supply older cars.
in the worst case an Evora would merely follow a more conventional depreciation curve, and not 'tank'.
I would predict LE's broadly holding their value or at least following the current slow trajectory and then seeing something an upturn in the medium to longer turn.
They are the original iteration of the Evora and you usually see how in due course 'original' then becomes seen as the 'best/purest' - S1 Elise being an obvious example but most enthusiasts cars seem to follow a similar pattern - early MX5's being another case in point. More generally I would anticipate demand will increase in any event from enthusiasts for the 'analogue' models as EV's come to the fore and the low production numbers will help to bolster residuals and potentially future growth.
There's also some anecdotal evidence to suggest the handling of the early NA cars is sweeter.
I'm not in the least coloured by having one of course! (which I have no intention of selling any time soon)
They are the original iteration of the Evora and you usually see how in due course 'original' then becomes seen as the 'best/purest' - S1 Elise being an obvious example but most enthusiasts cars seem to follow a similar pattern - early MX5's being another case in point. More generally I would anticipate demand will increase in any event from enthusiasts for the 'analogue' models as EV's come to the fore and the low production numbers will help to bolster residuals and potentially future growth.
There's also some anecdotal evidence to suggest the handling of the early NA cars is sweeter.
I'm not in the least coloured by having one of course! (which I have no intention of selling any time soon)
I now have about a year's worth of data from market watching. I record naturally aspirated manual cars only. From that, the average advertised price has dropped by about £1000 over the year. From trending (very few sales/ads currently) the average price early this year is about £25,250.
Admittedly it's been a very atypical year and advertised price does not necessarily equate to sold price. But this kind of small movement over a year could be interpreted as a very slow continuous decline, or of something which is pretty much at the bottom of its depreciation journey and soon to start heading upwards. I think the new announcement will only impact prices on the older cars indirectly, via the likely downward pressure on 400/410GTs.
My prediction is that the average price will increase, but that this will be driven more by an increased range of prices, with "cherished" Launch Edition cars rising in price, while more tatty examples continue to drop in price.
If the current spread of values is of the range £20-30K, I could see that becoming more like £18-35K by 2022. The market will be very small by then, with likely only a couple of sales per month. Go out further still, and by 2025 the tatty cars will all disappear and the only thing available will be the well looked after ones at 40K.
Admittedly it's been a very atypical year and advertised price does not necessarily equate to sold price. But this kind of small movement over a year could be interpreted as a very slow continuous decline, or of something which is pretty much at the bottom of its depreciation journey and soon to start heading upwards. I think the new announcement will only impact prices on the older cars indirectly, via the likely downward pressure on 400/410GTs.
My prediction is that the average price will increase, but that this will be driven more by an increased range of prices, with "cherished" Launch Edition cars rising in price, while more tatty examples continue to drop in price.
If the current spread of values is of the range £20-30K, I could see that becoming more like £18-35K by 2022. The market will be very small by then, with likely only a couple of sales per month. Go out further still, and by 2025 the tatty cars will all disappear and the only thing available will be the well looked after ones at 40K.
Quick market update, the red car at 23.5K has now sold.
There are a total of 3 manual NA cars now on sale (that I can find) anywhere in the UK, at £24K, £30K and £33K. If the £24K car sells next, the market is in an interesting place, with the only cars on sale at £30K or above! This is significantly higher than the average price seen and could, in a stroke, answer the question of future prices, as new ads coming on would likely jump upwards to meet that point. In a year of watching I've never seen there be so few cars available, this rarity is likely to push prices up more if it continues.
There are a total of 3 manual NA cars now on sale (that I can find) anywhere in the UK, at £24K, £30K and £33K. If the £24K car sells next, the market is in an interesting place, with the only cars on sale at £30K or above! This is significantly higher than the average price seen and could, in a stroke, answer the question of future prices, as new ads coming on would likely jump upwards to meet that point. In a year of watching I've never seen there be so few cars available, this rarity is likely to push prices up more if it continues.
Edited by Ryvita on Wednesday 27th January 08:28
Ryvita said:
Quick market update, the red car at 23.5K has now sold.
There are a total of 3 manual NA cars now on sale (that I can find) anywhere in the UK, at £24K, £30K and £33K. If the £24K car sells next, the market is in an interesting place, with the only cars on sale at £30K or above! This is significantly higher than the average price seen and could, in a stroke, answer the question of future prices, as new ads coming on would likely jump upwards to meet that point. In a year of watching I've never seen there be so few cars available, this rarity is likely to push prices up more if it continues.
Arent the £30k+ cars also 2015 + too?There are a total of 3 manual NA cars now on sale (that I can find) anywhere in the UK, at £24K, £30K and £33K. If the £24K car sells next, the market is in an interesting place, with the only cars on sale at £30K or above! This is significantly higher than the average price seen and could, in a stroke, answer the question of future prices, as new ads coming on would likely jump upwards to meet that point. In a year of watching I've never seen there be so few cars available, this rarity is likely to push prices up more if it continues.
There is a lack of cars period in the market not just "special" stuff
I do think the demand is there for cars, if the right car came on the market for me i would be buying one, i do think 20k will be around the lowest they get for high mile cars.
Rival cars 996 911 are now going up in price i would think the 997 will hold steady or follow so people look elsewhere and i know where id rather have my money and it isnt in zee german.
I do think the demand is there for cars, if the right car came on the market for me i would be buying one, i do think 20k will be around the lowest they get for high mile cars.
Rival cars 996 911 are now going up in price i would think the 997 will hold steady or follow so people look elsewhere and i know where id rather have my money and it isnt in zee german.
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