Wildguzzi.com
General Category => General Discussion => Topic started by: Motogogo on October 27, 2013, 12:14:30 PM
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Interesting new vehicle to be introduced in 2014!
ABS, AC/Heat, 2 seats, 84 mpg, AM/FM, 100+ mph, made in Louisiana, under $7000, inline 3 cylinder
http://www.eliomotors.com/
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About 4800 orders. Wonder if he'll make all of them and if his sales cover the costs. ::) ::) ::)
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None of these Elio car claims have been claimed/substantiated by anybody but the sellers. This '3 wheeled car'(really a bike) has not yet been tested by EPA or CARB. Buyer beware. :D If you send $ to these guys at this point, good luck on getting what you think you are. ~; This is about as sound as sending $ to buy a Motus MC. :+=copcar
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Nice idea - but the price seems improbably low. ???
Nick
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Would be easier to sell as a motorcycle than a car.
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How do you get 84 MPG, when you cannot get that from a motorcycle?
The aerodynamics cannot be that much better...
Crash tested and approved, if not it's as legal as Chinese scooter without VIN from pep boys.
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I think aerodynamically, it is capable of over 80 mpg. Probably at 45 mph.
I would want it to have handle barr steering and handle bar brakes and twist grip throttle, just like a motorcycle.
With no pedals on the floor.
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Would definitely be a motorcycle then.
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How do you get 84 MPG, when you cannot get that from a motorcycle?
The aerodynamics cannot be that much better...
Crash tested and approved, if not it's as legal as Chinese scooter without VIN from pep boys.
The aerodynamics CAN be that much better. An enclosed car with a Honda SL-175 engine can get 150 MPG.
However, this one has been discussed and discarded. IF it were ever to be made (and there's doubt about that), the price will be 3 or 4 times what they are claiming .... If they could sell this car for $7,000, a Versa would be $3,500 ....
Lannis
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Crash tested and approved, if not it's as legal as Chinese scooter without VIN from pep boys.
If it is classified as a motorcycle, would it really undergo crash testing?
Anyhow, I hope they do make it. I would love to have a vehicle like this- small, good gas mileage and driver plus one passenger.
Before you say- 'ride a motorcycle', I have to mention that the passenger is a 8 yo girl. She doesn't like riding in inclement weather.
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It's federally classified as a motorcycle, but the State of Louisiana has exempted the mandatory helmet law for this vehicle.
Supposedly being built in part of the former GM plant that the Jeep copy - H3 was produced along with the other defunct vehicles, the Colorado and the GMC whatever it was. This is a fine example of the State and local officials giving away the farm in order to lure companies to come in to provide jobs, no matter the costs to local and state taxpayers. I mean, the company is located in Arizona, why aren't they built there?
We had a similar experience here in Monroe, La, just 100 miles east of Shreveport. A company called V-Motors (from California and had never been in the car business) was trying to move into a former GM headlight assembly plant that the UAW ran out of business a few years ago. Same scenario: a wonderful vehicle, extraordinary gas mileage, a "green" car. It was a scam to get federal money but it fell through. Left the local taxpayers holding the bag.
I think Elio Motors is another scam and will disappear once the officers get their money.
I hope I'm wrong and the taxpayers won't get screwed - too bad.
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:+1 I think you nailed it.
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These things have been coming up for years, I drove one-a Speedway? or something.
Even if it isn't a scam, bankruptcy often interferes with the delivery dates.
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I'd buy one. Fills a need for me.
http://abcnews.go.com/Business/wireStory/wheeled-elio-closer-sale-24991923 (http://abcnews.go.com/Business/wireStory/wheeled-elio-closer-sale-24991923)
(http://www.eliomotors.com/wp-content/uploads/2014/02/Screen-shot-2014-02-25-at-3.50.48-PM-676x406.png)
http://www.eliomotors.com/ (http://www.eliomotors.com/)
-AJ
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I'd like one too, but this thing has been vaporware for 4 years now, and we all know that the proposed original $6,000 price tag was ALWAYS a hashish-dream, so my sense of anticipation is declining ....
Lannis
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I've seen a whole lot more propaganda than actual, concrete information. I hope this comes about, but I remain very skeptical at this point.
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remember the Freeway?
http://minneapolis.craigslist.org/wsh/mcy/4619520116.html
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Remember the Freeway? I've driven one. It actually worked but I can't imagine anyone today buying a new one for $6000.00.
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What fun. I had a freeway several years ago and it was a blast. 100mpg and actually ran down the road very good.
It was like driving a go-cart.
I wish I had that silly thing back. It would make a great commuter machine.
Marc
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I'd rather have a Cincocento. A friend on Oahu has a Topolino. I wouldn't mind getting that. When he said that he had one and was restoring. I could only laugh. ;D
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For my birthday, my wife got me ine of these (well sort of). They're not in production yet but I may have it in a year.
(http://i235.photobucket.com/albums/ee70/cbeaner007/b50dd11c44c387565b1235efb730a1c1.jpg)
It's called the ELIO and has a 1000cc three cylinder gas engine, ac, heat,cruise, etc. comes in 5 speed or automatic and a top speed in excess of 100 mph. 0 to 60 in 9.6 sec. Claimed 84 mpg highway and 50 city. Seating is tandem and they have 30,000 units pre-sold. They have arrangements to begin production in an old GM plant in Shreveport, LA in early 2015. I hope it pans out. It would be my "winter motorcycle". More details at <<eliomotors.com>>.
Interior:
(http://i235.photobucket.com/albums/ee70/cbeaner007/0060a562535d7483d152e3e70651c6ca.jpg)
A few mechanics I know have also pre-ordered and are sure that it's for real. It's said that All Pep Boys locations will serve as service centers and there will be a 3 year, 36,000mi. Bumper-to-bumper warranty. Projected sales price is $6800.00.
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From what I've seen on other forums...most don't think it can be done for that price....hope they are wrong....
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Is this a joke? The only keepable promise I see on their website is that your presale deposits won't be returned.
In the software industry (and gaining acceptance in the automotive industry) it's called "vaporware." I hope it works out for you, but with that many units supposedly presold and not a single verifiable photograph or independent report of anything about it at all, anywhere (the 'photos' on their website aren't photos -- they're not even real good drawings), it seems to be made 100% in Nigeria rather than 90% in the usa.
And service through Pep Boys? the typical PB counterperson isn't competent to make change. This outfit proposes to train and certify PB staff and equip/maintain 700+ PB outlets as elio service centers?
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dunno RK, but that sucker will haul ass with a Hayabusa motor in it ~;
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They all will.
:pop
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Actually Rodekyll, they've had multiple prototypes touring the country as well as multiple news reports on CNN, business weekly and more than a few engineering sites as well. Will it happen? I don't know, but for a grand I'll chance it. I've invested in worse in the past. If it does come to fruition, it will be interesting for winter use in the great white north. They will also purportedly have dealerships as well. Pep Boys will serve for routine maintenance and minor service work as I understand it. At any rate, I think they've gone a bit beyond "vapor ware" at this point. Check out the videos of the actual vehicle on YouTube. Four different prototypes thus far with the P4 being the "near-production" model.
CW
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I doubt very seriously that, that vehicle can reach the market at that price. Looks neat and they may have some prototypes out there, but I sure wouldn't put any of my money towards one of those things. It will never happen. If it sounds too good to be true it probably is - and this fits that bill to a T.
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I do hope I'm wrong. I'd hate to see 30,000 people get ripped off.
Odd though that I can't find any of the real thing on their website.
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Merged. Again...
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You don't have to put a deposit down to be a future Elio buyer. If it ever becomes real I'm going to road test 1 and if I like it I'm going to buy it for the Mrs. Then she can join me w/our 2 small dogs to rallies. :)
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I'm all in!!! ;-T ;-T ;-T ;D ;D ;D ;-T ;-T ;-T
(https://fbcdn-sphotos-f-a.akamaihd.net/hphotos-ak-xpa1/v/t1.0-9/10517530_10203438881805950_8906901507641741882_n.jpg?oh=164405da6b4fd74725cd6070f420b249&oe=546A1CB7&__gda__=1416248993_f99428bb5299ab7637b349aded6fbe0a)
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You don't have to put a deposit down to be a future Elio buyer. If it ever becomes real I'm going to road test 1 and if I like it I'm going to buy it for the Mrs. Then she can join me w/our 2 small dogs to rallies. :)
If it becomes real with the claims and the price I'll road test it too. But it will need all three -- making it real, making the claims, and making the price point.
I saw a really 'cute' 3-wheeler last month while in line for the ferry. It looked like something the cat in the hat would have ridden, made by Isetta for Big Wheels. It was a covered tandem setup with a plastic-looking body that hugged the wheels and then abruptly swooped upward to accommodate the passengers. A plastic flower coming out the top would have made it perfect. I wish I could have gotten a pic of it. I'd buy one of those..
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They've been pushing this thing for 3 years or more. As your Momma probably told you, "If it sounds too good to be true, it probably is" Fast, great handling, safe, great mileage, low cost. About all it won't do is wash itself and babysit your kids.
If they ever bring a product to market and it meets half their claims, I'll be damned surprised. At best, the principals had delusions of grandeur. At worst they are flat out crooks. Either way, some trusting people are going to lose $$$$$
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Same old delays. Last sentence says it all.
http://www.ktbs.com/story/25697775/elio-motors-delays-production-almost-lost-shreveports-gm-plant (http://www.ktbs.com/story/25697775/elio-motors-delays-production-almost-lost-shreveports-gm-plant)
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"Paul Elio, Eilo Motors CEO, has stated his start-up has reserved 18,000 vehicles and outsold Mitsubishi."
LOL! Now that's some delusional shite right there!!! :D
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Same old delays. Last sentence says it all.
http://www.ktbs.com/story/25697775/elio-motors-delays-production-almost-lost-shreveports-gm-plant (http://www.ktbs.com/story/25697775/elio-motors-delays-production-almost-lost-shreveports-gm-plant)
Elio Motors also plans to apply for a $200 million through the government's Advanced Transportation Vehicle Manufacturing Program.
This right here is the goal.
Lannis
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Anyone see the polaris trike? Similar, but much sportier, and made by ... polaris. Fast little beast too!
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Elio Motors also plans to apply for a $200 million through the government's Advanced Transportation Vehicle Manufacturing Program.
This right here is the goal. The principals pay themselves and it gradually fades out.
Lannis
Yep. The goal is to get all the grants they can, then quietly go out of business.
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I like the reverse trike concept. But i smell a scam too.. Polaris "slingshot". Way cool, and the polaris name behind it. I got a spirited ride in a guzzi powered morgan replica, and that sold me on the concept. A total blast.
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Yep. The goal is to get all the grants they can, then quietly go out of business.
That is the only thing that makes sense.
It is three wheeled just so it can be called a motorcycle, and get around a lot of safety testing. So you need a motorcycle license to drive it. That narrows things down a lot. Most states are still going to require a helmet. Right up there with the Corbin Sparrow. We see those everywhere.
BTW: did you know that everyone is now commuting on a "Ginger". How many remember that?
::)
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That is the only thing that makes sense.
It is three wheeled just so it can be called a motorcycle, and get around a lot of safety testing. So you need a motorcycle license to drive it. That narrows things down a lot. Most states are still going to require a helmet. Right up there with the Corbin Sparrow. We see those everywhere.
BTW: did you know that everyone is now commuting on a "Ginger". How many remember that?
::)
Was going to absolutely revolutionize transportation, and make the automobile obsolete. When they "unveiled" that thing and revealed it as the "Segway" to be, all I could think of was "These guys could have taken PT Barnum and made a sucker out of HIM!".
I'm sure there is a revolutionary chariot being sold on carvings on the walls of Pompeii ...
Lannis
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None of these Elio car claims have been claimed/substantiated by anybody but the sellers. This '3 wheeled car'(really a bike) has not yet been tested by EPA or CARB. Buyer beware. :D If you send $ to these guys at this point, good luck on getting what you think you are. ~; This is about as sound as sending $ to buy a Motus MC. :+=copcar
I was recently working with a manufacturer of 3 wheeled vehicles. Because of the small quantity produced, some of the state and federal guidelines don't come into play along with exemptions if you recycle VIN's.
Sending your money for a vehicle is another thing. The guy I was working for was broke. He hired me to do some development and assembly work. There was a lot of smoke and mirrors going on in the shop. It was easy to get impressed with the products that had been produced and were in the process of development. But when you step back and look at the fact that this guy had been in the custom bike business for 30 year, you could see that there where 30 year old project that had not panned out. He ask me to come up with some sketches of a light weight 3 wheeler because a guy in Alabama has a fab shop needing work and he wanted to take a product to market. He took my sketches to the guy in Alabama who took them, built a prototype and told the guy I was working for to get lost. It was funny in a weird way. Made me feel good that some one liked my idea's though. He later ask me to come up with a business plan to build 3 wheel vehicles utilizing the manufacturing resources he had, bringing in new equipment and employees. The plans were review, the start up cost and lead time where quite extensive. The return on investment of such a project is there, the cash to produce is scarce. I wish these guy well for thinking outside the box.
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A few mechanics I know have also pre-ordered and are sure that it's for real. It's said that All Pep Boys locations will serve as service centers and there will be a 3 year, 36,000mi. Bumper-to-bumper warranty. Projected sales price is $6800.00.
The Pep Boys affiliation makes it a little less attractive. Terribly clueless service has always been my experience with that place.
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I remember back a few years ago when those Chinese scooters flooded the US market. The things were sold with no service outlets in place at all, and parts were a crapshoot. Last time I was at Bent Bike in WA, there were rows of them, probably totaling 50 or so, rusting out back, many with less than 2500 miles on them -- they were literally throw-away bikes. I think the pep-boys hook is simply lip service to this problem. I'd be seriously surprised if someone pulled into a pep boys that had either the parts or the tech on-site.
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http://gas2.org/2014/05/23/elio-motors-predicts-delays-3-wheeler/ (http://gas2.org/2014/05/23/elio-motors-predicts-delays-3-wheeler/)
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Now that's unexpected. ::) :beat_horse
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Noting that there are still some rich suckers out there to invest and a few regular folks that haven't learned not to give non-refundable deposits on impossible dreams, Paul Elio announced that production would be delayed yet again. I think there are a few more sheep to be fleeced, said Paul. Once we've taken all we can, then we'll let folks know it was a pipe dream all along.
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Now that's unexpected. ::) :beat_horse
Like really.
I mean, a guy says he's going to produce a fully equipped, air-bagged, EPA and DOT-compliant car for $6,000 and people push forward throwing money at it ($55M so far).
Suppose the guy said that in June 2015 he was going to start selling gasoline for $.89 cents a gallon, if you would just put down a deposit on your first few tankfuls so he can get his secret process going.
Or that he was going to start selling fully-equipped 150 hp 16' bass boats, with trailer, for $3000 each next year, if you'll just send him money and be patient?
I don't know, maybe people would fall for that too. Or maybe not.
Lannis
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Somewhere, PT Barnum is smiling… ~;
cr
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He fibbed.
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He fibbed.
Not any bigger of a fib than the sign at the bar that says, "Free beer tomorrow."
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The Elio trike is progressing, they have now dyno tested their prototype 55 hp engine.
https://www.youtube.com/watch?v=XlM5jWOnDO8
Paul Elio sounds sincere about producing his machine:
https://www.youtube.com/watch?v=RJUXhK4pHx8
Sure it may never happen but I remain hopeful, I'd love to park one next to my Guzzi. (GC)
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Paul Elio sounds sincere about producing his machine:
https://www.youtube.com/watch?v=RJUXhK4pHx8
The ones who are REALLY good at this sort of wheeze are the ones who SOUND most sincere. If he sounded like a weasel, who would send him money?
Lannis
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In talking with a friend that lives in Shreveport - Any information about Eli Motors is hard to find. The abandoned GM factory that Eli Motors was suppose to build their cars in is still shuttered.
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this kinda reminds me of the Smart Car. That started out real hopeful since it was already a real car but then they had to change the engine to get it into the states and turned it into the slowest thing since a chevette with 2 speed automatic and the gas mileage went from great to being slightly better than a honda civic. They got a lot of hype but once people drove them, the majority lost interest.
If Elio ever releases anything it will be a lot less than promised and/or cost a lot more than expected. I think its great to dream big and set high goals but when you start making unrealistic promises as a way to get investment, you cross the line and become a fraudster.
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Base Price $6,800
(http://a57.foxnews.com/global.fncstatic.com/static/managed/img/Leisure/2009/876/493/elio-1-660.jpg?ve=1&tl=1)
https://www.eliomotors.com/
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http://www.autoblog.com/2016/03/11/elio-motors-delays-trike-deliveries-2017/ (http://www.autoblog.com/2016/03/11/elio-motors-delays-trike-deliveries-2017/)
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Base Price $6,800
https://www.eliomotors.com/
What? You didn't think we'd have a merged threadfest for this, with all the cheap bastards around here? LOL! :violent1:
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The price is too high for what you get, no A/C no power options, manual trans. By the time its equipped to sell, its going to be 10 large. I have seen New econo boxes advertised for 10K in the local paper!
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Take a look at the web site....AC, power steering, and power windows are all standard. Auto trans is optional.
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What? You didn't think we'd have a merged threadfest for this, with all the cheap bastards around here? LOL! :violent1:
Should have known.... :popcorn:
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Should have known.... :popcorn:
:grin:
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Are there still people who think this scam will ever materialize?
If you really want to waste some dough, bet on a 50:1 horse. You're odds of getting something in return will be a lot better.
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So. I feel the urge to chime in here. I have a cousin who has worked with robotic installations at some different car plants. He is the one who first brought Elio to my attention. He was quite excited about a $7K, 3 wheeled, American made car.
I am less optimistic than he is and I had remembered reading about the 20th Century Motor Car Corporation previously. (Not the 20th Century Motor Company, that was from Atlas Shrugged.)
Here is the Wikipedia take on it.:
The Twentieth Century Motor Car Corporation was an automobile company started by entrepreneur Geraldine Elizabeth Carmichael in 1974. The company's flagship vehicle was the Dale, a prototype three-wheeled two-seater sports car designed and built by Dale Clifft. It was powered by an 850 cc air-cooled engine and featured 70 mpg-US (3.4 L/100 km; 84 mpg-imp) fuel economy and a $2,000 (in 1974 US dollars) price, which were popular specifications during the mid 1970s US fuel crisis.
Carmichael, 37 in 1974, claimed to be the widow of a NASA structural engineer, a mother of five, and a farm girl from Indiana. In reality, she was a trans woman. Under her biological male identity, Jerry Dean Michael, she had been wanted by the police since 1961 for alleged involvement in a counterfeiting operation. The company would ultimately prove to be fraudulent when Carmichael went into hiding with investors' money.
Dale
The Dale was originally envisioned by Carmichael. The prototype was designed and built by Clifft, and the project was subsequently marketed by Carmichael. Much of the interest in the Dale was a result of the 1973 oil crisis: higher economy automobiles like the Dale were viewed as a solution to the oil crunch. Speaking to the Chicago Sun-Times in November 1974, Carmichael said she was on the way to taking on General Motors or any other car manufacturer for that matter. She said she had millions of dollars in backing "from private parties", and also talked of a 150,000 sq ft (14,000 m2) assembly plant in Burbank, California and over 100 employees on the rolls.
The Dale was also marketed as being high-tech, lightweight, yet safer than any existing car at the time. "By eliminating a wheel in the rear, we saved 300 pounds and knocked more than $300 from the car's price. The Dale is 190 inches long, 51 inches high, and weighs less than 1,000 pounds", said Carmichael. She maintained that the car's lightness did not affect its stability or safety. The low center of gravity always remained inside the triangle of the three wheels making it nearly impossible for it to tip over. She also went on record to say that she drove it into a wall at 30 miles per hour (48 km/h) and there was no structural damage to the car (or her). She said the Dale was powered by a thoroughly revamped BMW two-cylinder motorcycle engine, which turned out 40 horsepower (30 kW) and would hit 85 miles per hour (137 km/h). She expected sales of 88,000 cars in the first year and 250,000 in the second year.
Other vehicles
Two additional vehicles were proposed by Carmichael to complement the Dale: the Revelle and the Vanagen. Both of these would also feature a three-wheeled design and used the same 2-cylinder engine. None of the vehicles ever saw production and only two prototype vehicles of the Dale were made. Only one of those was able to run under its own power.
Rumors of fraud began to emerge and the California Securities Commission began an investigation. Although Clifft said he still believed in the project and said that he was promised $3 million in royalties once the Dale went into production, he only received $1,001, plus a $2,000 check, which bounced. Carmichael went into hiding and was featured in an episode of Unsolved Mysteries which detailed the fraud behind the Dale as well as the fact Carmichael was wanted. She was eventually found working under an alias in a flower shop, arrested, tried and sent to prison. Carmichael eventually died of cancer in 2004.
Any of the above sound familiar? I mean aside from the trans-woman part.......
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Is this quote from Wikipedia in any way related to the Elio, or are you just speculating that the Elio story may be similar?
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Going into any business venture with no money and expecting investors along the way never works.
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I don't know, so far it works for Square.
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Going into any business venture with no money and expecting investors along the way never works.
Founded in 2008, production delayed from 2012 to 2013, 2013 to 2014, 2014 to 2015, 2015 to 2016, now 2016 to 2017. I predict one more cycle, delay from 2017 to 2018, then the pyramid implodes.
It's not hard to figure out. Just check out "help wanted" ads for factory workers in Shreveport, LA. Supposed to be 1500 people working on production there. Far as I can tell, there's not ONE ... And considering it takes a hugely capitalized company like GM 10 years to design, tool up, and manufacture a new Corvette, well ...
Lannis
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I gave up waiting for the Elio to appear for sale. They do have at least 1 running model and have built a motor, but so what? Least I didn't put $100 deposit down like some, Went out and bought a used Ford Fiesta recently instead. :grin:
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I saw a short piece on the Dale on Jay Leno's Garage and thought, So that is where Elio got his inspiration.
Just remember what your elders taught you; If it sounds too good to be true, it is.
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I gave up waiting for the Elio to appear for sale. They do have at least 1 running model and have built a motor, but so what? Least I didn't put $100 deposit down like some, Went out and bought a used Ford Fiesta recently instead. :grin:
I guess what frustrates me so bad it not just that it's a con; there's millions of those ... but it's a con purporting to sell a product that I would buy in a New York Minute were it real. I drive Ford Festivas when I drive a car ... 1800 pounds, 1.3l 55 HP engine, 43 MPG, cruise from here to Denver and back at 70 MPH. I'd love to have a car with the specs of an Elio; I'd buy one at $14,000 although I think that it would take $25,000 to produce them in volume.
But alas, it is not to be.
Lannis
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I guess what frustrates me so bad it not just that it's a con; there's millions of those ... but it's a con purporting to sell a product that I would buy in a New York Minute were it real. I drive Ford Festivas when I drive a car ... 1800 pounds, 1.3l 55 HP engine, 43 MPG, cruise from here to Denver and back at 70 MPH. I'd love to have a car with the specs of an Elio; I'd buy one at $14,000 although I think that it would take $25,000 to produce them in volume.
But alas, it is not to be.
Lannis
I wanted the Elio for the wife and our 2 small dogs so they could follow me on a bike/scooter to rallies. :cool:
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All's quiet at the former GM plant in Shreveport
http://www.thetruthaboutcars.com/tag/elio-motors/ (http://www.thetruthaboutcars.com/tag/elio-motors/)
(http://thumb.ibb.co/dvtA8v/GM_Shreveport.png) (http://ibb.co/dvtA8v)
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When deliveries were just a "year away" a guy on another list I used to frequent was all over it. I told him I used to be involved with new cars. I was an engineering modelmaker at GM. What they were showing as their engine was obviously to the trained eye a wooden mockup. It takes more than a year just to get through emissions once you have a viable engine. Just getting the lighting certified takes longer than that.. etc. etc. He bit anyway.
He has a nice T shirt for his money.. :grin:
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A Hack at this point would work better. :thumb:
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A Hack at this point would work better. :thumb:
Have had hacks. If you just want transportation, yes, they will do. I want a bit more. :grin:
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I did look at the website with some interest but for some of the reasons listed by others. I agree that it seems a way of getting funds with the "offer" of buying later. :tongue: I should have bought that Triking replica in So. Cal. that was available for $12K. :embarrassed:
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Okay. Seem Paul Elio needs more money. I've been seeing this spot on cable tv.
https://www.ispot.tv/ad/AtCF/elio-motors-alter-the-course-of-transportation
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Why am I not surprised? <shrug>
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Don't know if this got put on the thread.
http://www.adamsautoadvice.com/elio-motors-scam/
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Going into any business venture with no money and expecting investors along the way never works.
You can see the end from here ....
"A United States Securities and Exchange Commission (SEC) filing reveals Elio Motors had just $101,317 in cash on September 30, 2016. That's a rounding error at best for a car company. Worse yet, the same document declares recurring net losses caused an accumulated deficit of over $123 million. The company explained it's uncertain about what the future holds.
"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," wrote Elio Motors in the SEC filing. More recent information about the company's finances hasn't been released to the public."
They've taken deposits from 64,000 investors (totaling about $100,000,000), but they've run through that and haven't even started setting up the Shreveport factory.
I think you can stick a fork in this one ... it's done.
Lannis
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They're still advertising on TV for more suckers. :thewife:
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Looks like your MP3 and my Eldo hack are more viable than an Elio. :tongue:
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What is your guess on the annual salary of the CEO of this American success story?
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I have seen and sat in an Elio...when I see one on the streets, I will believe it. Concept car at best, and doubtful it will be manufactured and offered at $8K. I believe I just read they are having major financial problems... :shocked: :rolleyes:
I have ridden in a Polaris Slingshot, and while cool, it is HUGE!
Now this TriKing, with a Guzzi motor is my idea of a three-wheeler! :cool: :thumb:
(http://thumb.ibb.co/jZbb1F/50589f9522179_triking6.jpg) (http://ibb.co/jZbb1F)
(http://thumb.ibb.co/kZY0Tv/images.jpg) (http://ibb.co/kZY0Tv)
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What is your guess on the annual salary of the CEO of this American success story?
I have a feeling this one was a scam from the very beginning. Sometimes, a man might think he has an idea that will really work, but screws up the execution of it, or gets let down by people he trusted.
This one was never going to work from Day 1. All the reasons that people have been giving, on this board and others, why you can't manufacture and certify a fully functional car using future customers' "deposits", and sell it for $6800 with no dealers, turned out to be true.
Whether Elio has been socking it away in a Cayman Islands bank, or ends up like DeLorean, trying to sell cocaine to make up his losses, we might never find out.
Lannis
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First saw on at Barrett-Jackson in Scottsdale Jan. 2014. Here is the car and the motor...
(http://thumb.ibb.co/dO9DgF/IMG_7579.jpg) (http://ibb.co/dO9DgF)
(http://thumb.ibb.co/kfT61F/IMG_7580.jpg) (http://ibb.co/kfT61F)
multi image upload (http://imgbb.com/)
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This reminds me of the "Flying Car" capers that have made the rounds. Moller comes to mind.
If people think that the drones are going to be a problem possibly dropping out of the sky into your patio morning breakfast, think what a flying car would do!
Total madness!
Untill we can manipulate gravity this is a complete pipedream.
:-)
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Don't forget the "Nationwide service network" of "Pep Boys Professionals". Pep boys are in about 35 states and usually only in metro areas.
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I like the Elio engine shot, JJ, especially the "Do Not Touch" sign-obviously don't want anyone to get a splinter.
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I like the Elio engine shot, JJ, especially the "Do Not Touch" sign-obviously don't want anyone to get a splinter.
.... or leave a dent from a fingerprint in the clay.
Lannis
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Well, I had my doubts when I saw the interior's setup. No cigarette lighter! :huh:
(http://i1299.photobucket.com/albums/ag77/Penderic/Penderic004/cheap%20car%20paper%20dash_zpsh12qxvoo.jpg)
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This reminds me of the "Flying Car" capers that have made the rounds. Moller comes to mind.
If people think that the drones are going to be a problem possibly dropping out of the sky into your patio morning breakfast, think what a flying car would do!
Total madness!
Untill we can manipulate gravity this is a complete pipedream.
:-)
I have wanted a Moller Skycar since seeing it in Popular Mechanics what? 25 years ago ?
edit: It's this one:
(https://cdn0.vox-cdn.com/thumbor/Xfk4P5gmaS2R3AUWuPDmAciGL98=/800x0/filters:no_upscale()/cdn0.vox-cdn.com/uploads/chorus_asset/file/2423658/popmechcover-0191.0.jpg)
(https://s-media-cache-ak0.pinimg.com/564x/eb/4e/7e/eb4e7e6247b53091fc8eaa98671399c1.jpg)
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I have wanted a Moller Skycar since seeing it in Popular Mechanics what? 25 years ago ?
(https://s-media-cache-ak0.pinimg.com/564x/eb/4e/7e/eb4e7e6247b53091fc8eaa98671399c1.jpg)
Looks like a person-carrying version of a modern drone! Probably possible, maybe not feasible. Or might be.
Like kirby said though, you'll need something close to a Kzinti inertia damper and gravity planer to make it stable enough for regular people to use safely - I don't thing gyroscopes will do it.
AND when someone says they're going to mass-produce them for $50,000, you'd better run the other way. This'll cost like a twin-engine prop airplane ....
Lannis
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Those things are the things that dreams are made of to would be flyers.
The reason I brought it up is to just identify another project that will never be funded properly and is most likely to fail but in this idea the technology has not advanced enough to make it feasible.
In the case of aircraft..well what goes up has to come down. If you have a problem while driving or riding you can pull to the side of the road and figure out what to do. Until technology gets to the point that you can just hover or push the reset button that will automatically land/light? these type of personal aircraft will indeed be dreams.
When the technology is available to do this, none of us living today would recognize our world..star wars time.
What would happen if you had one motor/rotor fail on quad drone while in flight? It happens all the time and you get to watch some pretty specular rolls before completely losing control and impact.
Now think about that Moller if one of the lift fans malfunction.
In many ways I'm happy to miss this technology because it will change the world in a very profound way.
I hope its good.
:-)
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What would happen if you had one motor/rotor fail on quad drone while in flight? It happens all the time and you get to watch some pretty specular rolls before completely losing control and impact.
Now think about that Moller if one of the lift fans malfunction.
:-)
And that's quite a likely scenario considering that (unlike the average airplane) these things in their normal operating space would be flying around in the middle of flocks of starlings and pigeons, not to mention buzzards, ducks, and geese. No one involved, starting with the bird, is going to survive THAT interaction unscathed.
Lannis
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The personal flying machine for "everyman" is in the future.. and always will be.. :smiley:
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Although it was published last month, I just came across this:
https://www.digitaltrends.com/cars/elio-motors-financial-woes/?utm_source=k1&utm_medium=cpc&utm_campaign=cpc_test&kwp_0=319603&kwp_4=1233903&kwp_1=552682
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The Elio is a scam. I waited for it's reality for years but gave up on it's production last year and bought a used Ford Fiesta instead, which I'm happy with. Many put $ on this scam but not me. Every year they said it would be real the next year. They built a prototype and supposedly even a 3 cylinder motor. :copcar:
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Elio is Vaporware. It's never going to happen.
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The Fiesta is a nice little car.
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Nothing left for Elio but the excuses, the recriminations, the investigations, indictments, plea bargains, and getting $.02 on the dollar back for the refundable deposits .....
Lannis
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Marketing and money down capitalization were immediate red flag.
Car cannot physically make the mileage it claims. Impossible.
Every step of the way looked like a scam to us.
We're pissed off. We wanted one. Went from "OK" to "what?" in about 20 minutes!
That said, there are this and other three wheel efficient platforms that could be developed into a good three wheel car. I don't know about adding AC and all that. Even the CanAm thing could be enclosed and faired and have wheel steering without infinite addition of cash.
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That said, there are this and other three wheel efficient platforms that could be developed into a good three wheel car. I don't know about adding AC and all that. Even the CanAm thing could be enclosed and faired and have wheel steering without infinite addition of cash.
Nobody except eccentrics like us would buy it.
Look at what's being bought today. Look what's driving down the road, with gas under $2/gallon. Escalades, Expeditions, RAM/F/GMC 3500 Duallies, Chargers. People have got so much money relative to the actual cost of gasoline that no one is even considering a 3-wheeled anything for the sake of "economy" ....
Lannis
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Saw one...sat in it...talked to the reps...at the Barrett-Jackson Auction in 2014. :thumb: :cool: :1:
My comment: When I see one on the street, I will believe it...still waiting. :rolleyes: :huh: :shocked: :laugh: :grin: :wink:
(http://thumb.ibb.co/ifSoOQ/IMG_7579.jpg) (http://ibb.co/ifSoOQ)
(http://thumb.ibb.co/cW2zV5/IMG_7580.jpg) (http://ibb.co/cW2zV5)
image storage server (http://imgbb.com/)
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This is also very interesting from the Elio Motors website.... :rolleyes: :shocked: :huh:
(http://thumb.ibb.co/cxtyq5/Screen_Shot_2017_06_26_at_10_35_43_AM.png) (http://ibb.co/cxtyq5)
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This is also very interesting from the Elio Motors website.... :rolleyes: :shocked: :huh:
(http://thumb.ibb.co/cxtyq5/Screen_Shot_2017_06_26_at_10_35_43_AM.png) (http://ibb.co/cxtyq5)
Even more interesting is a quick read through their Reg A filing from 3/31/17. A couple highlights below.
From the intro:
"Since our incorporation in October 2009, we have been engaged primarily in design and development of the Elio and obtained loans, investments and reservations to fund that development. We are considered to be a development stage company, since we devote substantially all of our efforts to the establishment of our business and planned principal operations have not commenced. We completed the initial design for the Elio as well as our business model in December 2012. In 2013, we began accepting reservations for the Elio, purchased manufacturing equipment, built two prototypes and secured a manufacturing facility. During 2014, we sourced suppliers and services providers, built two prototypes and applied for the ATVM loan (described below). In 2015, we built an additional prototype, engaged in a convertible subordinated note offering, and filed an offering statement with the SEC under Regulation A, which was approved on November 20, 2015 and closed February 16, 2016 after successfully raising $15,819,993, net of offering costs. During 2016, we continued engineering design and development, created the initial bill of materials, built three engineering prototypes, obtained partial release of reservation deposits from a credit card processing company and pursued additional equity funding. The primary focus for the three months ended March 31, 2017 has been on raising additional funding through debt and equity offerings.
Cash investment has totaled $27,166,944, net of related expenses, from incorporation through March 31, 2017 and loans have totaled $47,330,659 from incorporation through March 31, 2017. We have also obtained reservation deposits from persons desiring to reserve an Elio totaling $27,780,260 through March 31, 2017.
While we have raised significant amounts of funding since the inception of our company, designing and launching the production of a vehicle is highly capital-intensive. We have encountered delays with respect to our development schedule in the past, due primarily to delays in funding. These funding delays also resulted in our having to obtain extensions from our lenders and lessor. Fortunately, the lenders and lessor, which are most critical to our future success, have been cooperative.
As described in this report, we are continuing to make progress with respect to the Elio’s development, despite the lack of sufficient cash, due to (1) public support and acceptance of the Elio, as evidenced by the successful crowdfunded Regulation A offering and reservation deposits, and (2) the commitment of persons closely connected to our company, such as Stuart Lichter. Subsequent to March 31, 2017, Mr. Lichter converted over $8.5 million of loans and accrued interest into shares of Common Stock and extended the maturity dates of other loans to July 2018 and January 2019. He also controls CH Capital Lending and Shreveport Business Park, which have extended and/or deferred payment terms and waived fees.
We must still obtain relief from Racer Trust with respect to an extension of the maturity date of the note due July 1, 2017 and our agreement to create 1,500 jobs by July 1, 2017. If we fail to fulfill that agreement, we have agreed to pay Racer Trust $5,000 for each full-time, permanent direct job that falls below the 1,500 target. We have recorded a current liability of $7.5 million as of March 31, 2017 and December 31, 2016. Should our negotiations with Racer Trust be successful, we will make the appropriate adjustment to our balance sheet at that time."
And down on page 12:
"As of March 31, 2017 the Company had a working capital deficiency and a stockholder’s deficit of $41,474,034 and $145,906,178, respectively. During the three months ended March 31, 2017 and 2016, the Company incurred losses of $4,761,773 and $9,494,272, respectively. These conditions indicate that there is substantial doubt about the Company’s ability to continue as a going concern within the next twelve months from the filing date of this report."
Greg
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According to the article, they have to have created 1500 jobs by July 1, 2017 or face a $5K penalty for each job not created in that number. IF I read it correctly. Sooooo, I don't think so. :tongue:
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Prototype driven by Chris Fix. https://www.youtube.com/watch?v=vobEBqEISh8
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Prototype driven by Chris Fix. https://www.youtube.com/watch?v=vobEBqEISh8
The video was well done...the design / concept / car itself is pretty cool...executing it into mass production at that price point is another matter all together. Again, when I see one on the road...I will believe it! :laugh: :grin: :wink:
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:1: "It's on the internet! It must be real!!" :grin:
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I think when the day comes to transition to 3-wheelers, it will be something like this... for me, anyway :cool:
The Polaris Slingshot is too big...the Can-Am a little too funky, (although I am seeing more and more of them on the road these days due to the aging of all of us riders!!) :rolleyes: :shocked: :huh: :laugh: :grin: :sad:
(http://thumb.ibb.co/hEHpf5/Screen_Shot_2017_06_26_at_1_52_04_PM.png) (http://ibb.co/hEHpf5)
(http://thumb.ibb.co/czhcYQ/Screen_Shot_2017_06_26_at_1_52_26_PM.png) (http://ibb.co/czhcYQ)
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I'm okay with my Eldo hack. :thumb:
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I'm okay with my Eldo hack. :thumb:
Just for you today, Tom! :thumb: :1: :cool: :smiley:
(http://thumb.ibb.co/hPM6ck/Screen_Shot_2017_06_27_at_2_32_15_PM.png) (http://ibb.co/hPM6ck)
(http://thumb.ibb.co/iQJV3Q/Screen_Shot_2017_06_27_at_2_32_34_PM.png) (http://ibb.co/iQJV3Q)
(http://thumb.ibb.co/b9eRck/Screen_Shot_2017_06_27_at_2_32_49_PM.png) (http://ibb.co/b9eRck)
(http://thumb.ibb.co/g9pgA5/Screen_Shot_2017_06_27_at_2_33_00_PM.png) (http://ibb.co/g9pgA5)
(http://thumb.ibb.co/j06Tq5/Screen_Shot_2017_06_27_at_2_33_20_PM.png) (http://ibb.co/j06Tq5)
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I'm OK with my 2 Piaggio MP3s. :grin: Got passed today going to town by a Slingshot? on my 250 MP3. I was doing 65 mph and it was doing 70 mph. That sucker is really wide! Whereas my MP3 isn't any wider than a faired MC and I get 70 mpg. :thumb: I know that Slingshot rider paid as much for it as a car costs and more than I paid for my 2 MP3s.....+ I'll bet I can carry more groceries than he can too. :azn:
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Bet he couldn't follow you in the hills. :grin:
Thanks for the pix, JJ. :thumb:
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I'd like one too, but this thing has been vaporware for 4 years now, and we all know that the proposed original $6,000 price tag was ALWAYS a hashish-dream, so my sense of anticipation is declining ....
Lannis
Hey, look, we were using the word "vaporware" back a LONG time ago.
If you look at the dictionary definition of "vaporware", there's a picture of an Elio car there!
The "too good to be true" prognostications were correct ....
Lannis