Future of Lotus

[Kimbers]

Funny how the 2008 profit by MJK has been conveniently forgotten!

I suspect someone will be looking for a retraction or at best an afternote!

http://news.bbc.co.uk/1/hi/england/norfolk/7724535.stm

[Bibs]

I find it incredibly hard to believe that the car side of the business has never turned a profit. 

[Kimbers]

Dad has pointed out on FB that he made £2 million in 2008  and he Colin made profits on a regular basis.

Journo definately has this one wrong! 

Please, if everyone could click on his name on the article and inform hi of his misconception I/we would appreciate it!

 

[andydclements]

I chuckled, an d wondered how if it had never turned a profit it had been the way that Colin funded his racing.

 

Kimbers, any point in showing their mistake, it's Archant which means is more like a game of Where's Wally to find the accurate article?

[NedaSay]

Journos tend to have a very short memory.... And I don't know if JMG's interest was to set them right this time around. He's just drilling on a message... Lotus is profitable and overheads are down. However Goal for year 2 seems to have been reduced a bit from a 3000 cars sold target to over 2000 cars sold target. Pretty sure the delays met in the federalization have something to do with it.    

[Advantage]

It's almost like a For Sale advert. Almost.

[Inkyfingers]

There's a big difference between a company that has never made a profit, and one that's never posted a profit, if you know what I mean.

Sounds broadly positive though, so fingers crossed.

[C8RKH]

Too true @Inkyfingers. I have a mate who has his own company. Never made a profit in years as he spends a lot on advertising - on his racing car that he runs around lots of tracks....

 

[Bibs]

I thought HMRC had clamped down on that in the last few years?

[Barrykearley]

Ahh yes the "mate"....your secrets out @C8RKH

[C8RKH]

I wish Barry and yes Bibs, it is much harder than it used to be but still possible to do something, not to the same extent, but then we were talking pseudo past tense too...

[LF1]

Yea HMRC a proper onto this, we are looking to run a race car under our company - complete non starter if a director or family member is driving it.

[Barrykearley]

And the flood of volunteer drivers now commences @LF1. Put my name as no 1

[Bibs]

Well someone has to be the first sponsor! 

[LF1]

It's not the LF1

A 1.6 detuned Caterham on van tyres - https://www.redfrog.com

Sponsors welcome

 

[Inkyfingers]

2 hours ago, Bibs said:

I thought HMRC had clamped down on that in the last few years?

Yes, they have, but we are talking historically here and despite the clamp down, there are still plenty of legitimate reasons why a successful company wouldn't show a profit, particularly when they are part of a bigger group.

[LF1]

I think it is a reference to the racing car being driven by a company owner at the expense of the company being clamped down on, not a company making no profit... many valid reasons for that - reinvestment, etc.

[Bibs]

^ That.

[Bibs]

 

http://www.mustardtv.co.uk/browse/lotus-cars-celebrate-a-turnaround-as-they-head-towards-profit/

[Bibs]

http://www.thestar.com.my/business/business-news/2016/08/15/proton-poser-for-drbhicom/

Quote

DRB-Hicom Bhd set tongues wagging last week when news came out that it was considering selling off its entire stake in national carmaker Proton Holdings Bhd to external investors.

 

[NedaSay]

JMG must be bracing for impact and doing all he can to protect Hethel. I wonder what is the status of the Lotus-Goldstar JV... Goldstar was carrying the bulk of the investment but whit a partner possibly on the vierge of being sold one may not see fit to go further in the development of such a project.     

[NedaSay]

Ok I was able to get my hands on that piece from Automotive News Europe e-Magazine, the article is dated august 12

http://europe.autonews.com/article/20160812/ANE/160729937?template=mobile02&X-IgnoreUserAgent=1

 

[andydclements]

I'd always thought of Lotus being the low-volume producer owned by the (loss-making) high volume company Proton. I'd not realised that Proton's sales figures were now so bad that Lotus out sells them c 2-1. Bye bye any hope of the old benefits of ownership they had when GM-owned, such as access to components at GM discounted rates, or low/zero design cost items that had already paid for design on tens of thousands of units on mainstream cars. That makes the current improving status and potentially profit even more significant.

[Bibs]

http://www.roadandtrack.com/new-cars/news/a30914/lotus-possibly-for-sale/

[j2 lot]

At least this time Lotus are for sale as a potentially profitable concern rather than a hot potato. Fingers crossed for JLR, Toyota or someone that can keep the brand going, I wonder if this might kill the 4x4 plans .....

Edited September 23, 2016 by j2 lot