Since we last looked at Elio Motors, the startup that plans on selling an 84 mpg, $6,800 tandem reverse trike to people looking to replace 15 year old beaters, there have been a number of developments involving the company. To begin with, the start of production has been pushed back until the beginning of 2015. Though Elio had originally announced that production would start in Q4 of this year, there were delays in finalizing the real estate deal for the former General Motors assembly plant in Shreveport, Louisiana where Elio plans to build their vehicles, including assembling their own engines (whose preliminary specifications have been announced). There have also be some changes to the car’s design as it gets closer to production, with a fourth prototype being introduced. Finally, Elio has announced how they will market and service the vehicle. Like Tesla, they will be setting up factory owned stores to sell directly to customers. Those stores, though, won’t be providing service.
Elio Motors is one of those automotive startups that raises all sorts of flags that makes some people think that it’s a scam, or at least on shaky financial ground. Almost every bit of news from Elio has been greeted with some skepticism, understandably (here, here, and here). They’re planning on selling a three wheel vehicle with a composite body that gets amazing gas mileage. Those facts alone remind people of the Dale scam, and the failed Aptera venture. Also, they’re taking deposits on a vehicle whose design has not been finalized, a year away from production, and that evokes memories of Preston Tucker, who had his own problems. Then there’s the financing plan that Elio says will allow people currently driving beaters, the working poor if you will, to get a new car with a warranty just for what they’re currently paying for gasoline. When you buy the $6,800 tandem two seater reverse trike, whatever balance there is after your trade-in and/or deposit is applied will go on a credit card. Monthly payments will be required to pay down the balance but the way Elio is pitching it, when you use that credit card to buy gasoline (and some other purchases) instead of being billed for the actual cost of the gas, you’ll be billed 3 times that amount and the difference between the actual price and the billed price will be used to pay off the car.
Why 3X the price of gas? (Read More…)
I’ve been fascinated by reverse trikes for a long time. As young teens, my older brother and I made a reverse trike go-kart (he designed the frame and the drivetrain, I did the brakes and steering) because we didn’t have the money for a proper live axle setup in the back. The first hard turn taught us something about the inherent instability of three wheel vehicles. The inside front wheel lifted about 18″ off of the pavement (maybe that’s why I like the photo of Jim Clark’s Lotus Cortina cornering on three wheels so much). It took a bit more than a “dab of oppo” to settle it back down. I don’t remember if either one of us ever completely rolled it, but it was exciting to drive. Now comes word that Morgan’s revived 3 Wheeler, a car that seems to be able to drift and donut effortlessly while still keeping both front wheels planted firmly on terra firma, has become their best selling vehicle, prompting word of expanding the 3 Wheeler line. With that success my attention has once again been drawn to reverse trikes. I’m not the only one. Based on design patent drawings, it looks like Polaris will be soon introducing the Slingshot, a side by side reverse trike powered by a GM Ecotec 2.4 L four cylinder. From the styling the Slingshot looks to be aimed more at Ariel Atom fans than the traditional stringback driving glove set, so I don’t think the Morgan will lose any sales to Polaris, but either way, I think the Polaris will increase the popularity of three wheelers in general.
The perennially shy Alex Roy took delivery of his Morgan Trike last year and has dutifully operated it under all conditions, including during the arrival of Hurricane Sandy. There’s something awfully charming about the “Three Wheeler”, even if the price of it would also put you in a brand-new six-speed Corvette Grand Sport. As far as not-quite-motorcycles go, I much prefer it to the Can-Am Spyder, anyway.
Much of the appeal of the Morgan is its novelty value; we didn’t get very many Morgans of any type in this country, much less three-wheeled ones. The T-Rex is probably the only other non-bike-based trike on the market. In the UK, however, the “Moggie” is just one in a large field of competitors. Some are closer to the original Morgan design than the Morgan itself, while others are futuristic in the creepy Seventies sense of the word. The Telegraph recently put eleven of them together for a short test.