Elio Motors raises price for Three Wheelers

Three wheeled two seater Elio increases its price to $7,300, for holders of non - refundable reservations.

Elio Motors raises price for Three Wheelers

Elio's crowdfunded 84 mpg three-wheeled two-seater is now raising price of reservation holders to $7,300, up from $6,800 for holders of non - refundable reservations.

The company has already taken 56,000 reservations, and says that this price applies for non-refundable reservations up to 65,000 vehicles, so there's a chance for 9,000 more people to lock in the price. The sticker is higher than the $6,800 price that Elio has advertised long before, and the company didn't give any reason for the increase in price, but did say that the sticker price would drop to $7,000 for those who make a "binding commitment" to buy a vehicle before Elio hits 65,000 figure in sale.

For now, the fuel-efficiency is figure of "up to" 84 miles per gallon.

Though the company did say that the sticker price would be reduced to $7,000 for those that make a binding commitment,but this is still $200 more expensive than the amount that was originally stated by the company. Additional options like an automatic transmission, retro fenders, parking assist or a premium entertainment system would cost an extra amount ranging from $380 to $2,000.

The automaker is saying that Elio's sticker price is about 40 percent less than an inflation-adjusted amount $1,699 price of the 1968 Volkswagen Beetle which was $11,768 in 2016 . Elio has applied for a $185-million from Advanced Technology Vehicles Manufacturing (ATVM) loan from the US Department of Energy for raising further working capital as to kick off its production in its factory at Louisiana. With 56,000 reservations on the books, the company says it has $350 million as regards with pre-production sales.

Elio Motors was found in 2009. In June Elio Motors said that they are working with the onion on a politically-oriented marketing campaign in advance of November's presidential election, going as far as calling itself "Purple" in order to straddle the Red and Blue political lines. In April the company made an announcement that it has completed its fourth and final stage of designing engineering, enabling the company to start testing vehicle prototypes for ride dynamics and safety. This three wheeler two seater car is expected to happen sometime in 2017.