Elio Motors

[dougdogs]

Saw another commercial on CNBC yesterday (I AM an investor, and watch CNBC all day) Commercial offered a 25% discount, but did not state what the the discount was for. (I.E. if an option was 25% off, or 25% off deposit, . . .) the commercial itself was different than the one I saw on NBC sportschannel

[dougdogs]

Just saw the commercial again on CNBC, backed up (cable box records everything on a temp basis) And they say 25% bonus.

 

But they don't say what the bonus is

[Lou Schneider]

The bonus is a reduction of the purchase price ... make a $1000 deposit, get a $1250 credit when you actually buy the car.

[Newt]

 

Elio Sets Price For 83-MPG Car, Gives Discounts For Deposits

It’s been a long and rocky road to market thus far for the economical Elio, but the curiously cast three-wheeler just took one more step closer to the introduction. The company has both locked in the vehicle’s starting price and has begun both taking cash reservations and offering discounts for the car via its website.

At least for those who are willing to put a nominal, albeit nonrefundable deposit of between $100 and $1,000 down on the car, Elio is guaranteeing the car’s base price of $7,300. That price applies until the company reaches 65,000 donors reservations; Elio says it’s received over 56,000 reservations to date, with the “vast majority” of them being non-refundable.

Founded by automotive engineer Paul Elio in 2008, the company’s namesake vehicle is an oddly styled two-seat commuter car that’s planned to deliver an impressive 83-mpg. It was originally planned to launch last March, though after assorted delays Elio hopes to begin assembling a small fleet of pre-production models at the company’s Shreveport, LA factory later this year, with – assuming everything comes to fruition – deliveries beginning in early 2017.

“Volkswagen entered the market in 1968 with an extraordinary vehicle at an incredible price and shook up the industry,” says the company’s namesake founder and CEO, Paul Elio. “We are on the path to launching an extraordinary vehicle, as well, but are setting an even more aggressive and affordable price, and doing so in a way that will create American jobs, reduce our dependence on foreign oil, be better for the environment and strengthen American manufacturing.”

The coming three-wheel Elio’s base price has been locked in at $7,300, but that’s provided you’re willing to put up a non-refundable cash deposit. (Photo: Jim Gorzelany)

Recommended by Forbes

Perhaps in this era of Kickstarter-like product launches, we shouldn’t be so pessimistic about a start-up business plan that relies on non-refundable cash deposits, but few other major consumer transactions involve what even the company admits is an element of risk. Elio’s website confirms that the up-front money, “is going to be used in the production of the Elio vehicle,” explaining that, “We are offsetting your risk with the opportunity to be first in your neighborhood to own one of these exciting vehicles.”

Whether there’s anything to be gained beyond novelty status to be the first cheapskate in a given subdivision to drive this oddly cast little car like this is kind of a stretch, but as an added incentive, Elio is sweetening the deal for risk-takers with both discounts and giveaways. A $1,000 “all in” non-refundable deposit locks in the $7,300 base price and places one to the next available spot in the yet-to-be-revved up a production line, which is currently at around number 20,000. Elio will also bump up the reservation amount by $250 for add-ons and options, and throw in a shiny new set of MTX Audio headphones (“while supplies last”).

A non-refundable deposit of $500 places you a bit lower in the queue and garners both the headphones and a $125 bonus; meanwhile, $250 down places you even farther back and includes a $62.50 bonus, while a $100 deposit earns a $25 bonus and an even lower spot in the delivery line. All levels include an Elio T-shirt (at least until September 4) and bumper sticker for good measure, and the $100 and $250 levels can be cash upgraded later to obtain a higher spot on the waiting list should pent-up desire should subsequently foment.

Of course, if the car never sees the light of production or the company otherwise succumbs one or more insurmountable hurdles, all you’ll have to show for your cash are a few modest freebies.

Those (wisely) averse to risk can put down refundable deposits in the same amounts, but this neither locks in the aforementioned base price, does not include cash bonuses, and essentially relegates them to the back of the waiting list.

For the uninitiated, the Elio is a three-wheeled “autocycle,” as it’s now classified in 41 states, that’s about the length of a Honda Civic, but is nearly half as narrow, with a long hood, tall roof and back end and only a single conventionally hinged side door. The front wheels extend beyond the front-end bodywork, with an exposed suspension and individual aerodynamic fenders reminiscent of the hot-roddish Plymouth Prowler from the 1990’s. Designed with a suitable solo commute in mind, it can nonetheless accommodate one additional passenger sitting directly behind the driver in what some might find to be a claustrophobic back seat.

Coming powered by a tiny new three-cylinder engine, the Elio is claimed to achieve an impressive 83-mpg, though unfortunately for the company this comes at a time when gasoline prices are the lowest they’ve been in a decade. What’s more, the company says the vehicle is engineered to achieve a five-star crash rating. Unfortunately, the prototype currently making the rounds reportedly remains nearly as unrefined as the crude mockup we drove back in 2014. Originally intended to be sold via a network of company-owned stores, Elio’s final sales and marketing plans – beyond taking cash deposits, that is) have yet to be announced.

[Kirk W]

It would seem that Elio has once more demonstrated that PT Barnum was correct in his statement....

“Nobody ever went broke underestimating the intelligence of the American people.”

[RV_]

Good article Newt. Thanks!

[Lou Schneider]

Good article Newt. Thanks!

 

 

Except that it's almost 2 months old. Published in Forbes on August 15.

[RV_]

I looked for a date, thank for filling it in Lou.

 

Elio was on the local news about the old GM building they are using here and only caught the very end. The city and state boards are getting pretty put off by Paul Elio. He will have to get something going to show us here. Here is an article from 7 days ago.

http://www.shreveporttimes.com/story/news/2016/09/28/whats-going-general-motors-shreveport-plant/91179046/

[Toddleti]

you are very right KIRK!!!!!!!!!!!!!!!!!!!!

[Biker56]

Only 4,149 reservations left.

[RV_]

Yep and I would not give Elio full price for a non refundable deposit today. Glad I only did $100 at this point. The Shreveport city council is not happy with the delays and his sale of the equipment at the plant. That was supposed to be part of getting into production. I don't see any work at the plant that would indicate any plans to start anytime soon, if ever. I'm even losing faith in them. I have dropped $100 on a fine dinner for two with drinks, only to have it all turn to crap the next day. At least I got a T-Shirt for this $100 to show for it.

[Lou Schneider]

I have dropped $100 on a fine dinner for two with drinks, only to have it all turn to crap the next day.

 

ROFL!! Good one, Derek.

[Jack Mayer]

 

ROFL!! Good one, Derek.

I agree....a classic...

[RV_]

Thanks guys!

 

Perspective, it's all in the eye of the beholden. (Yes that is mine too)

[Biker56]

Today still only 4,149 reservations left on the email from them I received today.

So in 2 days 0 reservations made. Looks like things has slowed down some.

 

E-Series Progress- HVAC Testing Update

Earlier this year, we outlined our plans for the E-Series vehicles and the role that each vehicle will play in the testing and validation of our design. In September, we reported that one of our E-Series vehicles, the E1D, was in transit to our heating, air conditioning, and ventilation (HVAC) supplier, RedDOT, for testing. Today, we’re excited to share the first round of testing and E1D’s performance in some extreme conditions.

To test their customer’s HVAC systems, RedDOT uses a full-vehicle environmental chamber that is 48 feet long, 18 feet high, and 18 feet wide. The chamber can create environments of scorching heat, artic cold temperatures and a relative humidity ranging from 20% to 95%. Recently, this chamber tested the E-Series’ air conditioning, heating, and defrost systems.

A/C:

To validate the Elio’s A/C system, we begin with extreme conditions. The temperature for the environmental chamber, with the E1D inside, was set at a sweltering 110 degrees Fahrenheit at 40% relative humidity. The vehicle was essentially drenched in heat for 24 hours, and for good measure, a bank of heat lamps using 700 W/m² was aimed at a 30% downward angle to replicate the real-world solar effect. Now, the test can begin and the A/C can go to work.

The A/C test tells our engineers everything they need to know about the distribution of air flow throughout the cabin of the vehicle. From this test, we can ensure that the A/C adequately provides cooling to both the driver and passenger. We also conduct this testing using a 3-level method. That is, ensuring that the head, midsection, and feet of the occupants are cooled equally. This ensures that the driver’s brow is as dry as their feet. The results of the A/C testing were in line with our expectations. Now, our engineers can make further refinements to the vehicle for an optimum cabin experience.

Heat:

The testing of the E-Series heating system was the polar opposite of the A/C tests. For many of us, the thought of starting and heating a vehicle in the dead of winter is an unpleasant prospect. To test the heater, the environmental chamber is cooled to temperatures just below 0 degrees Fahrenheit and soaked overnight. Then, the vehicle’s heater is cranked on to heat the E1D. The heat testing offers similar findings to the A/C testing: air flow, distribution to driver and passenger, and the 3-level method. The temperature inside the E1D rose to comfortable temperatures quickly, similar to most vehicles on the road today.

Defrost: As a part of our HVAC testing, the defrost of the Elio was also tested. The test was conducted following the Society of Automotive Engineers (SAE) standard J902.

In the above photo, you’ll find a RedDOT employee making marks on the windshield to chart the actual defrost pattern. Ultimately, the defrost pattern will match the 95-percentile driver eye position. The engineers are very satisfied with the first round of defrost pattern testing.

Testing the E-Series vehicles is both an exciting and vital phase in our journey. It allows us to validate our design and ensure that we are producing the best possible vehicle. The initial testing of the HVAC system of the E1D is right in line with our expectations and allows our engineers to improve the vehicle based on our findings. The testing of these vehicles represents major progress and will lead to an even better final product.

[RV_]

The City of Shreveport is fed up waiting and the state is investigating Elio's delay and same excuses for the past three years. There is a special TV news investigative report being aired here Tuesday I think.

 

I wrote them last week. Here is my email and their reply. And yes I know the deposit is non refundable. I am just frustrated. I hope they actually make them but with every year that passes with no cars to sell, but lots of prototype "news."

 

I wrote:

"Message:
When are you going to do anything at all here in Shreveport?? I read that you were building 100 vehicles here but nothing here at all yet. Our local TV news ran a story about your selling the equipment in the factory without raising enough to go into production. And that Racing is giving yet another extension at no charge. The city fathers here are perplexed and tired of the date for even starting to set up being put off again and again. I'd like my $100.00 deposit back. And that is coming from a person who bought $50k of Telsa when it IPO'd in 2010 for $17. I am still holding my shares which have appreciated a bunch. I did sell enough when it hit $100 to take back my principal, and a $5k token profit so I can say I already made a profit and am playing with house money. So I keep the faith despite their volatility. Mr. Elio, you might really want to emulate Elon Musk, but it has become clear that you sir, are no Elon Musk.

 

Their answer:

 

"21, 08:15 EDT

 

Hello Derek,
Thanks for reaching out to us. We are currently targeting 2017 for consumer production to begin. We are planning on selling 100 pre-production vehicles later this year for a fleet customer to drive to further refine the driving characteristics and reliability and move from there to consumer production as the requisite funding comes to fruition. From there, we will produce and start shipping the vehicles to our reservation holders first in this order: $1000 All In, $500 All In, $250 All In, and $100 All In and then the refundable reservation holders $1000, $500, $250 and $100. Deliveries will begin immediately following the start of production.

 

Upon review of your account, we see that you have an All In reservation which is non-refundable. We refer you to point number two on the reservation agreement (http://www.eliomotors.com/wp-content/uploads/2015/02/RESERVATION_AGREEMENT_50_Bonus_Offer.pdf) agreed to at the time of your reservation.

Your position in your respective reservation level is still intact and the 50% bonus on your reservation amount still applies when you buy your Elio.
We are focused on producing a fuel-efficient, affordable, and safe vehicle that's made here in the US. We are committed to changing the way people move and make progress to that end every day.

 

Thanks,
Elio Team"

 

I'll be watching Tuesday.

[Biker56]

They still are 2,919 orders left to lock in that $7,300 price.

They are going fast. Last 2 months 1,530

[Kirk W]

They still are 2,919 orders left to lock in that $7,300 price.

They are going fast. Last 2 months 1,530

Best get your order in quickly! When they are gone, they are gone!

 

We have a new Tesla charging station near us with 8 stalls but in more than a month open we have yet to see one in use! At least their cars actually exist.

[Biker56]

Still 1,749 reservations left to get. Don't miss out.

They are going slow now. 1,170 sold in the last month and 5 days

 

Don't forget that included a limited T shirt and a Bumper Sticker.

[RV_]

Paul Elio was a guest interview on CNBC power lunch today. Amazing! It will go into production in 2018 now. I still do not see any construction, production, preparation, or news of Elio motors doing anything but T shirts so far here where the plant is supposed to be.

 

Big news! Instead of saying production is a year later as they have done before they are now saying it is now delayed another two years.

 

http://video.cnbc.com/gallery/?video=3000579306

 

I got the T-Shirt.

[Biker56]

Still 1,153 left today to put a deposit on.

 

And now is the perfect time to make your reservation because for a limited time,
when you make your “All In” non-refundable reservation for your Elio, you’ll set your base price at $7,300*

 

This special offer is limited to the first 65,000 total reservations, and only about 1,150 reservations are left, so don’t delay!

Want to save even more? As a non-refundable reservation holder, you’ll have the opportunity to save an additional $300 by making a binding commitment to purchase!
Of course, you’ll still receive the 25% bonus offer on your reservation amount to put towards the purchase of your Elio, which means a $1,000 “All In” reservation saves you another $250!

[RV_]

"Elio a no-show to meeting with Louisiana officials about possible state law violations"

 

The story in both video and if you are limited in bandwidth it is in print also.

 

Go here: http://www.ksla.com/story/34220164/elio-a-no-show-to-meeting-with-louisiana-officials-about-possible-state-law-violations

 

Elio has defaulted on every time line, every promise, and it seems they are not going to make anything but fools of themselves and any of us foolish enough to have put down $100.00 like me. I would love to see them get 20k 100 dollar reservations and see if with the 200k they say they need, they actually go into production.

[Kirk W]

Elio has defaulted on every time line, every promise, and it seems they are not going to make anything but fools of themselves and any of us foolish enough to have put down $100.00 like me. I would love to see them get 20k 100 dollar reservations and see if with the 200k they say they need, they actually go into production.

So have you given up on them? They don't seem to deserve the loyalty that many have given to them.

[Jack Mayer]

So have you given up on them? They don't seem to deserve the loyalty that many have given to them.

I've not given up on them. But I don't have anything invested in them, either. They have an attractive product "prototype".....if it comes to market. I'd buy one if it is even close to the promise of the prototypes. It is incredibly difficult to bring a new car to market. I've always said they only have a 50/50 chance, at best.

[lappir]

I've not given up on them. But I don't have anything invested in them, either. They have an attractive product "prototype".....if it comes to market. I'd buy one if it is even close to the promise of the prototypes. It is incredibly difficult to bring a new car to market. I've always said they only have a 50/50 chance, at best.

Maybe not given up, but not supporting either. I invested an amount that I am willing to lose, but hoping I don't. If you haven't invested in them I find it hard that you can give them even close to a 50/50 shot.

 

Rod