Lotus is considering a significant price reduction for its Eletre electric SUV in Canada, potentially cutting the cost by nearly 50 percent. Currently, the Eletre is priced well into the super-luxury segment, with a starting price exceeding that of a Lamborghini Urus SE in Canada.
This price hike has been largely due to tariffs, but a new trade agreement with China could change the game for potential buyers. 1 percent.
Lotus claims that this could lead to a drastic reduction in the Eletre’s price, making it more accessible to a wider audience. However, it's important to note that half of the vehicles eligible for the reduced tariff must start below CA$35,000 (about US$25,000), a threshold the Eletre does not meet.
The announcement was made on Chinese social media, but Lotus has not yet confirmed the new starting price for the Eletre. If the anticipated price drop occurs, it could bring the Eletre's starting price down to around CA$156,750 (approximately US$113,000), positioning it more competitively within the luxury SUV market.
This shift could attract a broader range of buyers who previously found the Eletre's price prohibitive. As the electric vehicle market continues to evolve, such changes in pricing strategy could play a crucial role in Lotus's ability to compete with established luxury brands.
