[Dylan]

At first, I thought these were old articles, but they both refer to the British Government loan in November, as well as loan covenants expiring at the end of March, 2014, so I guess they have only recently released fiscal 2013 results? Note that the two articles provide different counts for total Lotus cars sold.

Lotus future questioned as losses speed past £167m - Telegraph

Lotus drives deeper into the red - Business News - Business - The Independent

 

[cornbeef]

I think it all old news. I think the only new quote is the "Lotus executive said that until debt refinancing has been competed, “there is a material uncertainty which may cast significant doubt over the group"" and they created an article around it.

Of course there is doubt about them surviving until the restructuring is finished but that is something along the lines of I could die tomorrow if I run down the middle of a highway.....

These articles are stating the amount of cars sold to the end of March - it's Jan 13th. This is last years info. Production has been up in 13 with the Exige S although it still probably isn't anywhere near where they need/want it.

Based on other recent articles it seems like there is some truth in there but DRB are still cleaning up Danys mess and until they finish, there will be a mess. These reports really seem to be rehashed/re-edited old info to create an article based on a quote....

 

[fitfan]

i feel for their position - the danny debacle put new car development years back, and buried them in debt, so they are really painted into a corner now. shoulda,coulda,woulda... it would have been nice if danny had at least left something of value behind....

IF they can dig themselves out of the hole he put them in... they are a fantastic management team.

 

[LionZoo]

The Bahar debacle really did set Lotus back years. It's a sizable hole that they'll have to dig themselves out of, and even before Bahar they were behind the competition. I really hope they can do so, but it's a big task.

 

[tbd_Evora]

This is very old news based on the Financial Results for FY2013, which LOTUS now published. However Lotus Fiscal year 2013 ended last March so all this is related to the DB debacle. Lotus is now nearing the end of their FY2014, which has been a real step forward.

It would be nice if the press did their homework (or at least LOTUS did their PR), but maybe that is just expecting too much.

 

[road racer]

Could someone summarize the situation just before and during DB?

 

[fitfan]

before:
treading water with awesome technology (EV tech, and VVA platform) and interesting product in the pipeline (new esprit)

during"
* see my auto signature

after:
ruined business relationships, tremendous debt was wasted on??, awesome technology shelved, new product shelved.

current:
owners trying to salvage the ship danny sunk

 

[RENDERMAN]

The Bahar debacle really did set Lotus back years. It's a sizable hole that they'll have to dig themselves out of, and even before Bahar they were behind the competition. I really hope they can do so, but it's a big task.

Lotus was bankrupted long before he was even a concept, if it makes you guys feel better we can all blame Mr, Bahar... but the truth is Lotus doesn't have a product with the workmanship and price worth buying but then again is Bahar's fault for not making those cool looking models lol

 

[Swic]

Some may disagree, but I really wish they'd made the new esprit. I loved everything about the look and performance and it could have floated the brand like the Elige. As for it being a heavier car, it think the Elige has the lightweight legacy covered for now.

 

[Allan Gibbs]

In doubt again? Gesh. "How many of you secretly hoped for Lotus to go under". rotfl

 

[livethedream]

Some may disagree, but I really wish they'd made the new esprit. I loved everything about the look and performance and it could have floated the brand like the Elige. As for it being a heavier car, it think the Elige has the lightweight legacy covered for now.

They did make it. It's called the Huracan.

 

[LionZoo]

Lotus was bankrupted long before he was even a concept, if it makes you guys feel better we can all blame Mr, Bahar... but the truth is Lotus doesn't have a product with the workmanship and price worth buying but then again is Bahar's fault for not making those cool looking models lol

Lotus was already behind the 8 ball, but Bahar set them back even more. He spent money like a drunken sailor with nothing to show for it. If the funds were better managed, we might have ended up with a new product or two. Instead all we got were some pretty autoshow static models.

 

[Leojmcca]

Quick, make the 6 cylinder Exige street legal and send her over!

 

[Snake Eyes]

Quick, make the 6 cylinder Exige street legal and send her over!

They won't


They lost me as a customer. I would have bought the new v6 exige.

The Evore is outdated and outclassed by all the competition. It offers no advantage over BMW, Porsche, and Corvette. It is behind heavily in engineering and quality.

 

[LionZoo]

Quick, make the 6 cylinder Exige street legal and send her over!

+1. Alas...

 

[4380r]

Quick, make the 6 cylinder Exige street legal and send her over!

And after they satisfy 100% of the demand by selling maybe 2500 over the first two years, then what?

 

[RENDERMAN]

And after they satisfy 100% of the demand by selling maybe 2500 over the first two years, then what?

Although I wouldn't fly, how about making helicopters? then again with the cheap velcro they use they would probably all fall from the sky... -eek- rotfl

 

[komiko]

Lotus' future has always been in doubt, that is certain. It would be abnormal for it not to be.

 

[cornbeef]

before:
treading water with awesome technology (EV tech, and VVA platform) and interesting product in the pipeline (new esprit)

during"
* see my auto signature

after:
ruined business relationships, tremendous debt was wasted on??, awesome technology shelved, new product shelved.

current:
owners trying to salvage the ship danny sunk

rotfl but nicely summed up

 

[LionZoo]

And after they satisfy 100% of the demand by selling maybe 2500 over the first two years, then what?

To be fair, have they even sold 2,500 Evoras yet? The Exige V6 just seems to be more in line with Lotus' established niche. Granted that niche isn't a money maker, but when your company is reeling, consolidating to your niche and then organically growing out is probably a better plan than abandoning the niche completely. Porsche and Aston Martin went through some lean years, but they are where they are now partly because they never abandoned their core market, so their expansion products had an identity associated with them in the marketplace.

Regardless, this discussion is academic. I'm sure the US isn't an important market in Lotus' eyes anyway.