Lotus Plans on Saving Itself From Death With Layoffs and Dealer Expansion

Industry News

A reborn Esprit is NOT going to be a part of the rescue plan.

The past several years haven’t been easy for Lotus. The British sports car builder, known for its 'simplify, then add lightness' Colin Chapman stated philosophy, is working hard to get back on its feet. Its new CEO, Jean-Marc Gales, came on board last May, replacing the fired Dany Bahar. Gales had quite an undertaking: a company which lost 203 million Euros in fiscal year 2013 and 115 million Euros in fiscal year 2012.

To start getting things back on track, Gales sadly had to lay off up to 325 of its 1,215 global employees in order to help stop the money drainage. But it’s not stopping there. In a recent interview with Automotive News Europe, Gales provided more details about his Lotus-saving priorities, the first being the need to sell more cars. And more dealers will be needed for that. In the past six months, a total of nine new dealers have opened. By the end of the fiscal year, March 31, 2014, Gales would like to see that number reach 20. He also stated that "Within the next nine months there will be a couple of announcements of product enhancements that will make the heart of any Lotus enthusiast beat faster."

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The plan is also to stick with the aluminum tub chassis, but also make it more rigid and easier for the driver to get in and out of. Gales also clarified that none of the five concepts, including the Esprit, shown at the 2011 Paris Motor Show will ever make production.

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