not exactly 7k but polaris is making it happen. every summer i am seeing more and more of these driving around.
http://www.polaris.com/en-us/slingshot
http://www.polaris.com/en-us/slingshot
That looks like loads of fun to drive. If I were in the market for a sporty toy, I'd give that a serious look.not exactly 7k but polaris is making it happen. every summer i am seeing more and more of these driving around.
http://www.polaris.com/en-us/slingshot
The company still needs around $300 million more dollars to get started.
According to Elio Motors' latest SEC filing, the company's latest accumulated deficit is $123,212,432 as of September 30, 2016. In addition, Elio has a working capital deficit of $25,769,911. A net loss of $34,787,800 and $13,873,656.
According to the filing, "These factors among others, raise substantial doubt about our ability to continue as a going concern," it goes on to say, "If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether."
And the last sentence of this paragraph from Elio:
"...we may have to curtail our business sharply or cease operations altogether."
not exactly 7k but polaris is making it happen. every summer i am seeing more and more of these driving around.
http://www.polaris.com/en-us/slingshot
Things are NOT looking good for Elio and the old GM plant in Shreveport, LA. Another delay from 2017 to 2018, same old excuses.
not exactly 7k but polaris is making it happen. every summer i am seeing more and more of these driving around.
http://www.polaris.com/en-us/slingshot
I really hope they make it. A brand-new $7k car would be a huge boon to people in difficult financial situations. Like, my friend's car just got totaled and her entire budget for a new ride is like four grand, which basically buys you garbage these days (thanks, Cash 4 Clunkers!). But having something like a $99/mo car payment on a car that gets phenomenal gas mileage & doesn't require awesome credit history would put a new, reliable car within reach for an awful lot of people.
Former Shreveport mayor Cedric Glover said those who have purchased reservations for a car, just need to realize it is money lost.
"Going into the fourth quarter this year, they only had $101,000 in cash on hand. So when you think about the actual amount of money that they've been expending, Paul Elio with a salary of over 250 thousand," said Glover.
not exactly 7k but polaris is making it happen. every summer i am seeing more and more of these driving around.
http://www.polaris.com/en-us/slingshot
So they're going to drop from manufacturing nothing to manufacturing less than nothing?
I've seen tons of these around lately, they are getting pretty popular around here...
I really hope they make it. A brand-new $7k car would be a huge boon to people in difficult financial situations. Like, my friend's car just got totaled and her entire budget for a new ride is like four grand, which basically buys you garbage these days (thanks, Cash 4 Clunkers!). But having something like a $99/mo car payment on a car that gets phenomenal gas mileage & doesn't require awesome credit history would put a new, reliable car within reach for an awful lot of people.
May as well buy a Miata at that price. At least there's resell and safety included with the Mazda. Those things aren't that fast, have incredibly limited function and driving distance, and just look like something ready to be creamed by an SUV that doesn't check it's mirrors well.
Hey guess what, a new delay. and 2018 is now the target year not 2017 anymore. Oh and where did all the millions go? They blew through a ton of money in a short period of time. I wonder if Paul Elio will be investigated for fraud etc..
http://www.ktbs.com/story/34187485/elio-motors-further-delays-production-in-shreveport
An Elio Motors spokesman told KSLA News 12 that no one from Elio was made aware of the meeting. "We spoke with every person at Elio Motors that should have / could have been contacted including Governmental Affairs, Senior Leadership and our Customer Experience and Sales teams and no one heard from the LMVC," said Elio Motors publicist, Mike DeVilling. "If we'd have been contacted, we'd have at least responded."
Hey guess what, a new delay. and 2018 is now the target year not 2017 anymore. Oh and where did all the millions go? They blew through a ton of money in a short period of time. I wonder if Paul Elio will be investigated for fraud etc..
http://www.ktbs.com/story/34187485/elio-motors-further-delays-production-in-shreveport
That's why I really cannot fathom why some large company hasn't put up a bunch of money for Elio or ripped off the idea and executed on it yet. I think there's a huge untapped market for this.
Because it's not, never was, and never will be possible to build and sell a road legal automobile in this country for <$7,000. The price was total fantasy, pulled from thin air with complete disregard for the costs involved. You can't even buy a diesel tractor for less than 10k-15k, with none of the federal/state on--road regulations involved.
If there were a market here every car manufacturer in world would already be competing in it. Polaris is trying, but their offering in this size/segment is close to $20k - and they're one of the largest manufacturers in the world with all of the advantages of scale in play.
I'm sure Henry Ford could have done it. Giving cars yearly updates really hurt the consumer but was a huge boon for the auto industry and advertising agencies.
I don't think that person exists today, as Elio seems to be mostly a con man.
Whether it's fraud or just incompetence depends on what Elio knew, and when. To me, the sophistication the company showed in its marketing (including the very slick prime-time tv ad) and when pursuing financing, including taking advantage of the rule changes to sell stock to unaccredited investors, clearly points to fraud. I think he knew exactly what he was doing.
Yup, their website is still up and running taking deposits, but one would have to be REALLY nuts to throw any $$ at this thing. Might have been a better idea if gasoline was not so cheap these days and the Road+ Track test drive has the front fender FALL OFF during the short trip!. Fast-forward to close to the end for the lulz moment, http://jalopnik.com/body-part-falls-of-elio-3-wheeler-during-live-test-driv-1784533335Fraud. Even if he started with honest albeit unrealistic optimism by now he knows it's impossible and he's still taking money for it.
... the Road+ Track test drive has the front fender FALL OFF during the short trip!. Fast-forward to close to the end for the lulz moment, http://jalopnik.com/body-part-falls-of-elio-3-wheeler-during-live-test-driv-1784533335