Lotus in trouble?

[Easternlight]

Heard a rumour in the engineering community in Norfolk that Lotus are laying people off!
Thought they were doing well?

[ruggedscotty]

Easternlight said:

Heard a rumour in the engineering community in Norfolk that Lotus are laying people off!
Thought they were doing well?

back in july they binned 200.....

[Sebring440]

You should move this to "Motoring News" — you may get more of a response there.

[Equus]

Sebring440 said:

You should move this to "Motoring News" — you may get more of a response there.

Trouble is, it's not really news: Lotus is always either hiring or firing. It's just the way they've always been.

[Europa Jon]

ruggedscotty said:

Easternlight said:

Heard a rumour in the engineering community in Norfolk that Lotus are laying people off!
Thought they were doing well?

back in july they binned 200.....

No they didn't! It was less than half of that, and bearing in mind what Geely have put into them, they're unlikely to see the venture fail.

[Milkyway]

Trouble is their middle name.

[rjfp1962]

Milkyway said:

Trouble is their middle name.

Very good!

[B'stard Child]

Milkyway said:

Trouble is their middle name.

[BertBert]

Europa Jon said:

No they didn't! It was less than half of that, and bearing in mind what Geely have put into them, they're unlikely to see the venture fail.

We (deposit holders) hope so!

[Puddenchucker]

More redundancies:

https://www.edp24.co.uk/news/24029628.lotus-group-...

[Monkey boy 1]

30 permanent places and an unknown number of ' Contracted' staff
No idea how many contracted staff work there now.
It doesn't look good, but somehow Lotus still manage to battle through.

[DMZ]

Maybe lucky for proper Lotus that they’re not involved in the EV end of things as I suspect that part of the business is doing much worse. At least there is a bit of buzz around the Emira.

[Terminator X]

Now finance issues!



TX.

[Dr G]

https://cardealermagazine.co.uk/publish/lotus-buye...

Looks like underwriting bank pulling finance offers on "RV exposure" - i.e the cars will be worth even-less than projected.

...not that anyone here will be surprised to learn the EVs suffer crippling depreciation.

[Wills2]

There is too much fresh air in these deals, I used to sell (lease) capital equipment and the funders would get very nervous when they too much of it, the inhouse finance arms of the likes of VW must have eye watering losses sat there looking for a home and their funding will dry up as well.

The sales side are recognising large revenues but when that is all coming from the other side of the office you start to get into Enron territory as large amounts are fugazi.

[stevieturbo]

Governments are literally decimating their own industries forcing this EV BS onto them when the market simply does not want them.

Blatantly obvious 101 what the outcome would be. And worse, governments are stull pushing it !!! Absolute corporate suicide.

[Frimley111R]

At Christmas my finance contact said a major lender pulled all Ferrari, Maserati and Lotus PCP deals. You can get LP but PCPs are just too risky in the current climate. I am sure they are far from the only ones affected by this. Still, I got a good deal out of it

[stevieturbo]

Frimley111R said:

At Christmas my finance contact said a major lender pulled all Ferrari, Maserati and Lotus PCP deals. You can get LP but PCPs are just too risky in the current climate. I am sure they are far from the only ones affected by this. Still, I got a good deal out of it

I think that's more to do with the current far finance and hidden charges/interest thing that's going on, something akin to the PPI the credit cards were doing

[Frimley111R]

stevieturbo said:

Frimley111R said:

At Christmas my finance contact said a major lender pulled all Ferrari, Maserati and Lotus PCP deals. You can get LP but PCPs are just too risky in the current climate. I am sure they are far from the only ones affected by this. Still, I got a good deal out of it

I think that's more to do with the current far finance and hidden charges/interest thing that's going on, something akin to the PPI the credit cards were doing

Yes, possibly. He did mention that finance companies are all acutely aware of that at the moment too.