Autocar Today - Interview with JMG & Future of Lotus

[RobM77]

There's an interview with Jean Marc Gales published in today's Autocar magazines. He discusses a planned SUV and Lotus' future model strategy. Mentioned were a reduction in capacity for the V6 to 3.0 litres and possible turbocharging, a new modular platform and the future of all the current models (which Jean says will simply evolve from where they are now) as well as that SUV...

[CABC]

that would be an suv worth looking at.
bring it on,Lotus reducing weight and improving handling could produce a class leading suv and much needed revenue.
Only 10% of Pork output now is sports cars. (approx???)

[Jellinek]

Its interesting that the Times reported (4 days ago) that Lotus sales were down by 19% and losses are running at circa 45 million, much the same as 2015 and yet nothing has appeared in the motoring press. The story is at stark contrast to what has been reported recently from Hethel.

http://www.thetimes.co.uk/article/lotus-pleads-for...

[RobM77]

Jellinek said:

Its interesting that the Times reported (4 days ago) that Lotus sales were down by 19% and losses are running at circa 45 million, much the same as 2015 and yet nothing has appeared in the motoring press. The story is at stark contrast to what has been reported recently from Hethel.

http://www.thetimes.co.uk/article/lotus-pleads-for...

That's quite depressing reading, I thought things were looking up. I wonder if Brexit and a falling pound will affect them negatively or positively once it all goes through? Obviously their exports will be more attractive to overseas buyers, and are now, but being out of the Single Market, if that happens, will pull them the other way. Will Gales even still be able to work there in two years as a Luxembourger?! Do they still get their chassis made in Sweden? I think I heard a few years ago that the bodies are no longer made in house, but over in France That'll all be on shaky ground...

It's also sad for me personally that a company that do things exactly as I like them aren't popular. This is a bad sign for me because clearly my desires in a car are out of step with the market, so if everyone else like Porsche, BMW, Alfa etc are in step, what hope do I have of finding cars that I like in the future?

[otolith]

If you look at the article, those figures are for the year ending March 2016. Lotus announced that it had become cashflow positive in August 2016.

[RobM77]

otolith said:

If you look at the article, those figures are for the year ending March 2016. Lotus announced that it had become cashflow positive in August 2016.

I missed that (no proper sleep for three days!). That's great news

[Jellinek]

RobM77 said:

I missed that (no proper sleep for three days!). That's great news

I suppose for me the disappointment lies with the number of cars sold. The target from JMG was to sell 2000 cars in 2015 and 3000 in 2016. 1600 cars falls a long way short of this target, but from what I gather, this was in part due to withholding deliveries from the American market whilst they address Quality concerns.

I think DRB Hicom are due to announce the buyer for (51% of) Proton as early as February and I suspect Lotus' new owner, if there is one, will be revealed at the same time. The required 'substantial investment' quoted by the Times will have to come from that new owner.

[CTE]

There were a lot of Chinese types floating around the factory a few weeks ago...

Something needs to happen, they are haemorrhaging good staff left right and centre and Jen Marc and his Malaysian boss(totally incompetent and couldn't run a proverbial piss up) don't give two hoots and never mind the shouting and screaming and swearing at staff and each other...obviously signs of issues. His opening line when DRB Hi-Com took over, was you used to rule us, now we rule you, or derogatory words to that effect...

Good riddance.

[Jellinek]

Good news for CTE. Looks like Malaysia CFO at Lotus has left to join Proton today. My guess is JMG will (should imho) be gone soon too.
Chinese guys are no doubt from Geely doing due diligence. If Proton are pulling their management out, it suggests to me that Lotus will be sold off entirely whilst Geely or PSA take 51 percent of Proton...

[Undirection]

I met the Proton 'MD' when he was there a couple of years or so ago. Nice guy, didn't have a clue though. He said (sit down for this one) that he thought the cars were now as good a quality as Porsche. I smiled politely...

Also, this SUV thing is a huge concern for me. Lotus have next to zero experience or skill at 'mass production'. The allowances owners make for a fantastic handling sports are not going to wash with the SUV crowd. I see the logic but not the ability.