2024 RZ revisions

[John Adams]

9 hours ago, Malc1 said:

We’re taking a while to come out of this Recession

 

What Recession?

[Tickedon]

10 hours ago, Malc1 said:

We’re taking a while to come out of this Recession ……. New car sales must be somewhat challenging …….. who’s got plenty of spare cash then …….., 

Golden Oldies maybe 🤔

very very careful how they spend their dosh maybe ! 

Malc 

Lexus are on track to sell a similar number of cars in 2024 as they did in 2023 (which was a record sales year for them). There is no problem selling cars.

The problem is the government net zero nonsense, requiring all car manufacturers to have EVs make up 22% of their sales this year. For every car short of 22%, there’s a £15,000 penalty per car. The public don’t want that many EVs - sales are 15-16% of total car sales so far in 2024. 

As well as selling an EV, which gets you one car credit towards the 22% threshold, manufacturers- through a complex formula - can also earn partial credits for the first couple of years by lowering their average sales co2 emissions. Plug-in hybrids have much lower regulated emissions, so really help with earning credits. Hence why Lexus has been offering bigger deposit contributions and lower PCP interest rates on plugins (but not normal hybrids), and, has now cut prices for its EVs and plugins only - there was no price cut on standard hybrids which don’t help with EV credits. 

52 minutes ago, John Adams said:

What Recession?

Indeed… while we had a technical recession, most didn’t notice, and growth since has been good compared to other g7 countries: https://kpmg.com/uk/en/home/media/press-releases/2024/07/uk-economy-is-turning-a-corner-amid-softer-global-growth.html

[wivenhoe]

As Tesla only make EV’s then they can sell their unused % - I wonder who will be buying them  ?

I really wish Lexus had held back the RZ until 1st Jan to earn the credit towards the 22% and taken time to have fully developed the car with the update etc. I would have waited and probably bought a Porsche Mecan EV instead of putting my trust in Lexus. 

[Tickedon]

1 hour ago, wivenhoe said:

As Tesla only make EV’s then they can sell their unused % - I wonder who will be buying them  ?

I really wish Lexus had held back the RZ until 1st Jan to earn the credit towards the 22% and taken time to have fully developed the car with the update etc. I would have waited and probably bought a Porsche Mecan EV instead of putting my trust in Lexus. 

I believe quite a few RZ cars were held back for registration is January… 

[Malc1]

On 7/3/2024 at 8:42 AM, John Adams said:

What Recession?

Popping the January sales back to where they belonged, end of 2023 …….. might reveal a slowdown in the 1st half of 2024 sales and perpetuating …… and most people in the UK simply feeling the pinch ……. except in Devon maybe 🤔

Malc 

[John Adams]

52 minutes ago, Malc1 said:

Popping the January sales back to where they belonged, end of 2023 …….. might reveal a slowdown in the 1st half of 2024 sales and perpetuating …… and most people in the UK simply feeling the pinch ……. except in Devon maybe 🤔

Malc 

 

[FredD]

Does anyone if the Labour government plans to increase the BIK percentage on electric cars ? They have not said anything and it would be an easy measure to introduce (although this would probably destroy the electric car market in the UK)

[Tickedon]

1 hour ago, FredD said:

Does anyone if the Labour government plans to increase the BIK percentage on electric cars ? They have not said anything and it would be an easy measure to introduce (although this would probably destroy the electric car market in the UK)

https://labour.org.uk/wp-content/uploads/2024/06/Labour-Party-manifesto-2024.pdf

https://labour.org.uk/wp-content/uploads/2023/10/WR-797_23-Automotive-strategy-v8.pdf

As with most things, nothing said either way by Labour. Though EV BIK rates are already set to increase by 1% a year for the next couple of years. 

However, being generous, given the rhetoric about supporting a switch to EVs, increasing BIKs further would be counter-productive and contradictory.

[wivenhoe]

They don’t need to as the Tories have already increased it from 2% in tax year 2024 / 2025 to 3%  after which it will increase by 1% a year each year to reach 5% in 2027/2028.

[FredD]

Even at 5% in 2027/28 the rate will significantly be lower than the rate for a petrol/diesel car of the same list price as the RZ

[wivenhoe]

I should have added that Labour have indicated that they will restore the fuel duty currently cut until 2025. I reckon they’ll not only restore the cut but increase the fuel duty from April 25 so they can say it has kept the taxation on fuel the same as personal tax on EV’s. This is Milliband’s territory so I can see them ramping up tax on ICE cars after reinstating the ban back to 2030 extended by the Tories recently to 2035. These are easy taxes to collect, can be sold as ‘green’ but will be inflationary due to the cost increase on transport.

Stand by for the current exemption from the £ 450 Additional Rate for 24/25 for existing EV’s being removed too.

Some London councils have increased parking fees for diesels and are about to bring in increased fees for cars over 2 tonne, which most EV’s are due to the batteries. As all these types of taxes are easy to collect by using cameras, I expect more novel ways to treat car owners as tax ‘cows’ as it aligns with the climate change direction of travel. 
 

[Malc1]

I don't doubt for one minute that the revised policies with taxing cars in all sorts of ways, novel or not, will be to the fore to enable more deserving causes to be paid for ...........  the 35% pay rise for Junior Drs to name but one   😂

Car owners are to be clobbered whichever method the financiers wish ......  and I don't think they'll be hiding it either .......  but of course they'll blame the previous Govt ..  of course   Why not ! All this politiking is a joke ..  just so long as they get their hands deeper into our pockets .......  after all, we can afford it, we're Lexus owners 🤢

And EV owners will of course be " fair game "   ..................  as will everfyone 😇

 

Malc

[Phil xxkr]

31 minutes ago, Malc1 said:

I don't doubt for one minute that the revised policies with taxing cars in all sorts of ways, novel or not, will be to the fore to enable more deserving causes to be paid for ...........  the 35% pay rise for Junior Drs to name but one   😂

Car owners are to be clobbered whichever method the financiers wish ......  and I don't think they'll be hiding it either .......  but of course they'll blame the previous Govt ..  of course   Why not ! All this politiking is a joke ..  just so long as they get their hands deeper into our pockets .......  after all, we can afford it, we're Lexus owners 🤢

And EV owners will of course be " fair game "   ..................  as will everfyone 😇

 

Malc

Ah, Malc, how freely and and willing you are to spend other people's money, 35%, 35%🤯. What a precedent that will set! And it's not just lexus owners, it's all car owners, house owners, savings and pension owners. When the latter is liquified to fund extravagant ideology welcome to another variant of PPI. 

[GMB]

Apparently a government leak says that Kier Starmer is going to make an announcement at noon today banning all cars with more than 4 cylinders and/or over 2 Litres. Failing that he will tax them to extinction.🤪  Can't wait....😮

[Malc1]

Phil ……. we all know that as soon as the Govt settles with the Junior Drs at more than say 2.5% we’ll be sadly facing a “Winter of Discontent” ……… from the Red Far Far Left cajoled by very many Govt inspired MPs able to wield that power and influence ……. dear dear ( very very clever ) Diane Abbott, in cahoots with Jeremy ( god bless his deep red cotton socks ) Corbyn …… at least Ashworth isn’t an MP now and Thornberry is sidelined ……. but she’s very very clever ……. another latter day Attorney General no less ……. wonder where she’ll end up in the Party hierarchy ……there’s history 😄…

Premium car owners might be super taxed ……. that’s Lexus owners by the way 🤣😂🥵

We’re all motorists and Fair Game …… but we understand that and are content to be totally financially shafted for the Greater Good of All 👍

Now who’s got an inflatable …….. hehehehe 

Malc 

 

[FredD]

If things go bad an option is to go and lives somewhere else 😊

[Phil xxkr]

28 minutes ago, FredD said:

If things go bad an option is to go and lives somewhere else 😊

That's a definite option my friend if you're fortunate enough to be in a position to wait it out 

[Malc1]

2 hours ago, FredD said:

If things go bad an option is to go and lives somewhere else 😊

The beaches around Dover might be colourful …….. I’m here today at the Walmer Classic Car show ……. Lovely displays hundreds of cars AND an R reg Ls400 for sale too 👍……. ere come that rain 🥵

Malc 

[FredD]

On 7/6/2024 at 10:58 AM, Phil xxkr said:

That's a definite option my friend if you're fortunate enough to be in a position to wait it out 

I am lucky to be in that position but it seems it is the same everywhere in Europe

[FredD]

There is now it seems an ‘urban’ version of the 450z that is being supplied through varoius company car schemes although it is not yet advertised on Lexus.co.uk 

[wivenhoe]

The Urban grade was officially announced in May for delivery on the 450e and the new 300e ‘later in 2024’ so you would expected it to be on the website now. 
 

https://media.lexus.co.uk/the-2024-all-electric-lexus-rz-luxury-suv-new-versions-new-grades-and-an-enriched-lexus-ev-ownership-experience

[FredD]

Thanks, I have checked the Lexus.co.uk website and it is not advertised yet but it is on the company car inventory that my company uses. Considering that it takes 3 to 4 weeks for a company car to be delivered, I would expect the urban model to be on the Lexus UK website in mid or end of September. There are two things I noticed today: 1/ the range advertised for the urban model on my company car scheme is 272 miles and 2/ the monthly payment is significantly lower than for the RZ premium plus. It is a pity as I really wanted to get this version but I had to change my plan because of the canbus issue on the RX (a long story) 

[wivenhoe]

I suspect that the saving on cost for the 300e is down to the 450e suffering a lower residual in 3 years time despite costing more now.
Lexus really screwed up with the 450e - they launched it without being fully developed and rightly got really bad reviews over the abysmal range. 6 months later they issued a range update which significantly resolved the forecasted poor range - with heating or aircon on the range plunged to about 160 miles. After the update it’s a respectable 210 similar to Merc’s & BMW’s. They then screwed with the update and suspended all updates to cars with a HUD - don’t know if they have resolved that now. 
Despite some major issues with my car - 6 weeks without a/c charging due to a failed module, locked out by a flat 12v Battery, a really poor and unreliable App, unavailable normal (not air conditioned) air from a fan on the windscreen, losing £30k in 15 months - I like driving it ! My pain is eased by the fact they gave me a ridiculously generous px on my Range Rover against the RZ. 

All EV’s have suffered disastrous depreciation but the RZ more than most due to Lexus’s ineptness. If your company allowed used cars then they could pick up a top of the range 1 year 5,000 mile 450e Takumi for about £ 45k !

[FredD]

Thank you, I tend to agree with you. 6 or 7 months ago I had one on a 24 hours loan (it was a premium plus) and it said the range was 196 miles. When I left the dealership I put the air con on and the range went down to 160 miles and I was really worried driving it as a result. Another thing I noticed (although it  is probably the same for all EVs) is that the number of miles being consumed is not necessarily the same as the miles that are driven (I leave 10 miles from my Lexus dealer but when I arrived home the car computer showed 25 miles were consumed - this in addition to the 30 miles consumed as a result of the air con) which makes the car computer unreliable. The car though drives beautifully and in my view better than the Tesla Y and is a good second car.

[wivenhoe]

That’s why they screwed up on launch. I’ve just been in my car and it showed a range of 230 put the a/c on Low and drove about 20 miles on a very fast run and it is showing 195. The range forecast is now very accurate since the update, although with all EV’s driving at say 70 mph eats the miles whereas at 60 mph you don’t get the plunge. 
You being given a demo without the update says it all. They clearly haven’t learnt from the terrible press reviews and how to market the car with the update. It’s as if they have no interest in making the RZ successful despite their lack of EV sales costing a fortune in fines for not reaching the 22%