Lotus makes money!

[Bibs]

http://www.pistonheads.com/lotus/default.asp?storyId=18959

Well done Lotus!

[matk]

Great news!

[Kimbers]

[mayevora]

I would say that sounds like very promising news.

[peter_england99]

Well that's good news. Especially considering the results from GM and Ford. They are talking about GM being bust in 3 months time. Maybe Lotus could use the 2m to buy GM.

[silverfrost]

Fantastic news,

Its great to see such a great company like lotus doing so well not only in their

development and design of these fantastic cars but also from the financial side aswell.

Well done lotus and long may it continue

[esp88]

Good news and Well done Lotus !

Hope keep continue .......

[lotus4s]

Marvelous! Keep up the good work...

[Bibs]

Well that's good news. Especially considering the results from GM and Ford. They are talking about GM being bust in 3 months time. Maybe Lotus could use the 2m to buy GM.

Haven't they lost the best part of $50bn between them in the last couple of years?

[Mark Blanchard]

Fantastic, especially considering the times we're in. It's about time Lotus had some good financial news .

They are talking about GM being bust in 3 months time.

Can't believe a Company like that going bust, they're an institution. They're talking about a Taxpayer bailout on Bloomberg at the moment, so the Corvette and Chevys might be ok.

Edited November 11, 2008 by Mark Blanchard

[Mario]

great news

[dos Santos]

i feel like they reported similar results not too long ago. maybe deja vu. but good nonetheless.

[Bibs]

Press release...

Group_Lotus_Financial_Statement_2007_2008.pdf

[peter_england99]

I read the news about the potential tax payer bailout. Seems like the USA is embracing socialism with all this state ownership.

In the report I read, they said that if GM stopped trading it would directly lead to an additional 2.5m unemployed worldwide (Vauxhall, Opel, etc). So lets hope it doesn't happen.

I'd also be worried about parts supply at Lotus if GM go under. If you remember Brian Angus' comments about the effect of Rover's collapse on parts availability. There are also plenty of GM parts in our Esprits.

Despite all I've read, I really can't imagine that GM will totally close down, may however see some parts/brands disappear.

Fantastic, especially considering the times we're in. It's about time Lotus had some good financial news .

Can't believe a Company like that going bust, they're an institution. They're talking about a Taxpayer bailout on Bloomberg at the moment, so the Corvette and Chevys might be ok.

Edited November 12, 2008 by peter_england99

[Kimbers]

GM Reported a loss of 2.8 Billion in the third quarter of 2008 alone. The motor industry has been bracing itself for several years now for one of the big 3 in the states to go bust GM, Ford or Chrysler as they have been buying the market with 30% discounts and thousands of pre reg's for several years and you can only do that for so long.

I was hoping it would be Ford rather than GM, but there is talk that they (GM) will be filing a Chapter 11 Bankruptcy protection by December to restructure.

On November the 7th Ford announced a 3 Billion loss for quarter 3 alone. So watch out for more trouble ahead.

[Mario]

Seems the financial crisis do no affect sports and luxury car companies.Ferrari sold all the california to 2011.Lamborghini launches much expensive Estoque...Happy that Lotus is in the same condition with hope that it can assure a bright future for the company and exiting new products.

[talon]

Great news for Lotus and Kimbers Sr.!

Also good news for the future Esprit!

[Mark Blanchard]

In the report I read, they said that if GM stopped trading it would directly lead to an additional 2.5m unemployed worldwide (Vauxhall, Opel, etc).

This doesn't make very pleasent reading: www.nytimes.com/business/General_Motors

[Bibs]

Ford have spent $100m sponsoring their cars into the next 3 Bond films. Isn't that trading insolvently and therefore illegal? Will they sell enough DBS's to recoup that cash?

[mayevora]

I got a bit of a surprize this week whilst driving around Marsh Barton in Exeter (where all the dealerships are located) Brooklands the Bentley Dealership was totally emptied overnight. Going from having, I guess 15 Bentleys and many other equally expensive Motors for sale to an empty showroom.

Bankrupt.

[Kimbers]

Indeed. You'll see alot of prestige and "quality" dealerships disappearing over the next few years. Unfortunately, though these dealerships have been hit the worst, with sales of "quality" brands being hit the worst, they also have the strictist dealer standards which means despite selling very little they still have to have "gin palaces" and a minimum standard of people in positions doing nothing.

It seems crazy that at a tough time Manufacturers can't relax their minimum standards.

On another note I saw last night that Mini is closing their UK factory next month, for the whole month. Another warning sign from a company you would think would be safe.

[peter_england99]

Ford have spent $100m sponsoring their cars into the next 3 Bond films. Isn't that trading insolvently and therefore illegal? Will they sell enough DBS's to recoup that cash?

Well as Ford no longer own Aston Martin it doesn't really matter how many DBS' are sold. They won't get the return for the Bond advertising. I can only presume that Ford were already committed to the product placement before the sale of Aston went through.

[mayevora]

On another note I saw last night that Mini is closing their UK factory next month, for the whole month. Another warning sign from a company you would think would be safe.

Also heard this announcement last week. The Oxford plant usially shuts for a fortnight over xmas, however its now a compulsary 4 weeks this year.

[Bibs]

Well as Ford no longer own Aston Martin it doesn't really matter how many DBS' are sold. They won't get the return for the Bond advertising. I can only presume that Ford were already committed to the product placement before the sale of Aston went through.

So they spent $100m on Ka advertising?!

[Advantage]

That was an electric Ka, so it could be considered R&D.