Lotus is not for sale, owner Proton says
#1
10-12-2011, 07:25 PM
Lotus is not for sale, owner Proton says 
Lotus is not for sale, owner Proton says
KUALA LUMPUR - Malaysian carmaker Proton denied news reports that it may be looking to sell a stake in its subsidiary Group Lotus to GENII Capital.
The company said in a stock exchange filing that an article in the local Star newspaper which had reported on the planned sale was "untrue" and "highly speculative in nature."
Proton said its priority is to ensure that the Lotus business turnaround plan is executed.
"Proton and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus' new products and all our energy and efforts have to be channelled towards achieving this critical goal," the statement said.
The statement left the door open to outside investment in Lotus. "The Proton Group of companies will continue to initiate and consider viable business opportunities and arrangements which will benefit and add value to the Group's interest," it said.
Lotus plans to more than double global car sales to 6,000 to 7,000 by late 2015 from an expected 2,700 this year. The British sports car maker intends to launch six models by that time.
The company said in a stock exchange filing that an article in the local Star newspaper which had reported on the planned sale was "untrue" and "highly speculative in nature."
Proton said its priority is to ensure that the Lotus business turnaround plan is executed.
"Proton and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus' new products and all our energy and efforts have to be channelled towards achieving this critical goal," the statement said.
The statement left the door open to outside investment in Lotus. "The Proton Group of companies will continue to initiate and consider viable business opportunities and arrangements which will benefit and add value to the Group's interest," it said.
Lotus plans to more than double global car sales to 6,000 to 7,000 by late 2015 from an expected 2,700 this year. The British sports car maker intends to launch six models by that time.
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#2
10-12-2011, 08:41 PM
Dany Bahar is going to sink that company... It's not Ferrari, Dany. Quit trying to make it a British Ferrari.
#5
10-12-2011, 09:35 PM
Give it a few months, it will be.
As to engines, building their own was a great idea, they have a good track record of doing so. Unfortunately, it's everything ELSE they're doing that's turning the company into the next TVR.
As to engines, building their own was a great idea, they have a good track record of doing so. Unfortunately, it's everything ELSE they're doing that's turning the company into the next TVR.
#7
10-12-2011, 09:40 PM
Let's correct that statement - they have a track record of consulting on engines (if we're talking about the last 30 years). Those little 4-bangers of the '60s don't count. Bahar's insistence on making it a much less focused, much less specialized manufacturer flies in the face of Lotus history, not to mention good business practice for such a niche brand. No one will buy a Lotus over a 911 unless they are already a Lotus fanatic. There will not be conquest purchases.
FWIW, I've been following this saga via articles in CAR, EVO, etc. There are mixed opinions in the media, but I can't see this ending well for Lotus. Very sad...
FWIW, I've been following this saga via articles in CAR, EVO, etc. There are mixed opinions in the media, but I can't see this ending well for Lotus. Very sad...
#8
10-12-2011, 10:24 PM
Either way, I agree: Current management has no idea what Lotus was, is or should be, and will succeed only in running it into the ground trying to run it like Ferrari. (Who themselves haven't made a decent car in a decade and change)
#9
10-12-2011, 10:50 PM
Even now, their cars lose the company money. They stay afloat from their consulting on suspensions, handling, materials, etc. I think you and I are both on the same page.
#10
10-13-2011, 02:39 PM
Who cares abt Lotus? They have gone to shits. That's the best I can sum that company.
In this economy, they can hone in on small and efficient sports car market. No, that's not sexy enough for them. Clearly, the need to put the pipe down trying to dream up a lotus supercar. Sales target they are aiming is not going to impress any PE firm that will save the brand.
In this economy, they can hone in on small and efficient sports car market. No, that's not sexy enough for them. Clearly, the need to put the pipe down trying to dream up a lotus supercar. Sales target they are aiming is not going to impress any PE firm that will save the brand.