Lotus future in the UK

[Iconic Ride]

In this era of sound bites, raves, and flash mobs, coupled with the fact that most folks can't remember what they had for breakfast, previous negative commentary will likely be quickly forgotten or heavily diluted at minimum. Rumor mills are innately susceptible to instantaneous morphing, rapidly moving on to the next titillating fabrication.

What were we talking about anyway?

[hedgerley]

So since pretty much all this ho-har about Lotus going bust, Bahar being sacked and the Chinese exporting the factory to Beijing has been proved to be completely unsubstantiated and indeed made up, what happens to those who so enthusiastically wrote about it? Has this seriously damaged reputations or is everything forgotten about already?

Having set up Google Alerts, searching on DRB/Proton/Lotus, its interesting to see how the rumour mill gets going and feeds on itself.

Today's Sunday Times has a small piece (complete with photo of Danny and Evora) describing how Lotus is likely to be sold to either Geely or Youngman, or possibly Genii. This was old news 2 weeks ago and even then I believe it was unsubstantiated. Within hours I've had several alerts of other on line publications picking up the story and re-gurgitating it in some form or other.

Its not without the bounds of possibility that DRB will have considered selling Lotus - its one of several options they will no doubt have been considering. I would hope their due diligence has convinced them otherwise (today's F1 result may have some influence!) But I don't believe there has been anything official from reliable sources so until there is and we know the outcome of the current process, we should all calm down.....

[Bibs]

Again, this kind of thing just goes to show what a load of bollocks most of what is published is. Rumours, re-hashed rumours and non-stories.

There's a campaign up and running to keep Lotus in Norfolk, there was never any threat of them leaving!! I wonder how many people decided not to take a job there, left or even cancelled a car order off the back of this?

[hedgerley]

That's the worry Bibs, a loss of confidence which affects orders. The Daily Telegraph has its own spin on the rumours today with the added spice of "having seen Dany Bahars' contract" which apparently details his compensation should Lotus be sold off. How the hell do they get to see his contract of employment?

[Bibs]

The golden handcuffs is pretty common knowledge, has been since not long after he joined. They've got his salary wrong too unless he's had a recent payrise.

[Bazza 907]

Today's Sunday Times has a small piece (complete with photo of Danny and Evora) describing how Lotus is likely to be sold to either Geely or Youngman, or possibly Genii. This was old news 2 weeks ago and even then I believe it was unsubstantiated. Within hours I've had several alerts of other on line publications picking up the story and re-gurgitating it in some form or other.

Yesterday's Sunday Times is full of inaccurate stories including a big one on the front page

[Nelly]

You only have to read the football gossip columns in the papers to realise how much inaccurate stuff is published.

[Bibs]

But they are gossip columns. These papers/websites are reporting this news as fact...

[mr.oogieboogie]

Tomorrows fish and chip paper

[ramjet]

Doesn't even make the papers here. There are enormous numbers of people in this country that do not know an esprit at all so a story about Lotus would just go straight over their heads. Probably always going to be in your papers as it is relevant to your country.

I have had people drive past me looking at the wheel centres if I'm stopped or the nose badge as they go past and then this puzzled look on their face as they don't recognise the roundel.

I'll wait for the official announcements from credible Lotus sources and not some journo that is trying to simply sell papers with some "exclusive".

[NedaSay]

Well let's hope that the future of Lotus in the UK is safe for now and the foreseeable future!

I just read a piece on autoblog.com about JLR new engines: a supercharged V6 derived from their V8!

http://www.autoblog.com/2012/04/22/jaguar-announces-new-supercharged-v6-and-turbo-four-cylinder/#continued

Now DB talked about the next gen cars all being powered by new Lotus engines should adequate funding be provided! Well That 3L V6 (340bhp or 380 bhp) has me salivating in either state of tune! So I hope the engine crew can prove the new Esprit V8 quickly so that they can move on and provide Evora mark II owners a sweet engine like this!

[rogerch]

DRB-Hicom also said yesterday it has not decided on the fate of Proton’s loss-making British sportscar maker Lotus.

In the nine months ending December 31, 2011, Lotus’ operating losses jumped to RM166.6 million from RM102.4 million a year ago

From today's Malaysian Chronicle http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=32640:proton-to-be-delisted&Itemid=3

Whilst that has been my understanding, ie "DRB-Hicom also said yesterday it has not decided on the fate of Proton’s loss-making British sportscar maker Lotus." I draw no further conclusions. other than those sorts of losses cannot be sustained indefinitely no matter what cash reserves may exist.

[NedaSay]

DRB-Hicom also said yesterday it has not decided on the fate of Proton’s loss-making British sportscar maker Lotus.

In the nine months ending December 31, 2011, Lotus’ operating losses jumped to RM166.6 million from RM102.4 million a year ago

From today's Malaysian Chronicle http://www.malaysia-...listed&Itemid=3

Whilst that has been my understanding, ie "DRB-Hicom also said yesterday it has not decided on the fate of Proton’s loss-making British sportscar maker Lotus." I draw no further conclusions. other than those sorts of losses cannot be sustained indefinitely no matter what cash reserves may exist.

Agreed however 166 million RM represents 'only' 33 million GBP! I think this can be brought back to more manageable levels by controling useless expenditure (mostly in motorsport) producing and selling at least 2000 Evoras a year, about 1500 Elise/Exige and starting production of Esprit. Making a loss is not something lotus can really avoid right now - not when the grand plan announced last year was supposed to be only profitable by year 5 - but they can for sure bring losses to acceptable levels! Getting a OEM client to have rollers made in Hethel could also help the bottom line (Nissan E-merge)!

Edited April 24, 2012 by NedaSay

[rogerch]

Dated 24th: http://www.bbc.co.uk/news/uk-england-norfolk-17834710

Much of this we knew, but the appointment of KPMG if correct, must raise some concerns. My sympathy is with all those who must be very anxious about their future employment.

Hopefully Lotus survives and continues in Norfolk.

[Iconic Ride]

Does Lopez speak Chinese?

[erioshi]

Dated 24th: http://www.bbc.co.uk...orfolk-17834710

Much of this we knew, but the appointment of KPMG if correct, must raise some concerns. My sympathy is with all those who must be very anxious about their future employment.

Hopefully Lotus survives and continues in Norfolk.

This fits with everything we've seen so far. It wouldn't surprise me to see an attempt to shift the whole thing to Youngman with Danny retained as CEO. It even looks like this has been one of the possible escape routes he has been building towards for some time.

My fear is that there may be a nasty bump waiting at the end of the line for Danny. I could see Youngman deciding to split the engineering and car building arms and then giving Danny a firm boot for all his efforts. Outsiders are not exactly preferred at the highest levels of authority in Chinese businesses.

Hopefully none of this comes to pass. I would prefer to be wrong, and see Lotus kept where it is and still able to find a successful path forward for the future.

[Kimbers]

Just been a 5 minute piece on Look East BBC saying fears are growing that an Accountancy has been set up with a view to selling Lotus in China. Does that mean the previous Lotus comments were incorrect when DB Stated this was not the case?

They stated that it the biggest worry is it being moved to China.

http://www.bbc.co.uk/iplayer/episode/b01gk56k/Look_East_East_24_04_2012/

[Bibs]

Perhaps an MP is enjoying the exposure and milking it a bit with the BBC being a week or so too late? DRB have said they're happy and things are carrying on as before in their press release.

[ramjet]

I thought grandstanding MP as well, just couldn't be bothered posting it as someone will come up with some paper article from some backwater Delhi paper where some Indian train driver will say he was asked to start transporting part assembled chassis etc but not to tell anyone.

[DarrylV8]

A Tory MP? can't beleive he would lie! oh I maybe getting mixed up with the Tory MP who spoke at the "newspaper" enquiry yesterday; but then dident the PM talk to Malayan PM last week??

[Bibs]

I think that same BBC article said he spoke to the Proton MD. Full of inaccuracies unfortuantely.

[JAWS]

Perhaps an MP is enjoying the exposure and milking it a bit with the BBC being a week or so too late? DRB have said they're happy and things are carrying on as before in their press release.

Exactly this, the BBC don't really want to run the more mundane story (the truth) and just tab it on to the end of the Look East piece to cover themselves.

http://www.bbc.co.uk/news/business-17829069

[hedgerley]

Late breaking Lotus denials.. Richard Bacon needs to cool it until firm information is available.

http://www.eveningne..._sale_1_1360234

Edited April 25, 2012 by hedgerley

[noe]

this is a lotus forum so should be above others ..... Though seemingly often now you have weekly 'creep' of news spreading from one auto news mag/site/source to the other ...

Today is first this : http://www.autoguide.com/auto-news/2012/04/lotus-owner-seeks-chinese-buyer-for-brand-british-mp-says.html

Then it deteriorates to the Mr Average car site : http://www.autocar.co.uk/News/NewsArticle/AllCars/262473/

And worse still when this story (likely thurs or friday uk time as they are that slow on picking up stories) it hits the Top Gear website .... The Daily Mail or Sun equivalent of auto news ... Who give a clap about hearing what mr focus has to say about a lotus ... He just jealous and envious every time he sees someone driving a lotus!

Really this is what should be read : http://www.pistonheads.com/roadtests/doc.asp?c=108&i=25578.  .... This is what lotus is and what IS the news

To coin a wonderful word that is so often on Jalopnik, the auto pis-taker site, most people these days believe everything posted on the 'interwebz' .....

[jonwat]

Another article in the Telegraph saying they've hired KPMG to review their future.