Lotus returns to profit, all new Elise to arrive in 2020

Lotus Elise 250 Special Edition-08

Lotus Cars posted positive cash flow in August – its first in 40 years – and its newfound financial health will help it fund a range of new models, including the all-new Elise in 2020, according to an Autocar report. The sportscar maker’s turnaround can be credited to chief Jean-Marc Gales, who set out to stabilise its finances and improve its product range when he joined in 2014.

Since then, Lotus has introduced updated versions of its cars including the Exige Sport 350 and the Evora 400. The latter has been instrumental in bringing Lotus back into profitability, with early success in the US market. Now, Lotus has started development of an all-new range, starting with the Elise, and the track-focused Exige to follow after it.

As with the Evora before it, the all-new Elise is being developed to comply with the US market’s more strigent crash tests. Now operationally positive with 1,700 to 1,800 sales annually, the company aims for 2,000 sales next year, 2,500 the year after, and nearly double that with the launch of the new Elise and Exige beyond 2020. Until then, the company continues to improve upon its existing model line-up, as shown with the unveiling of the Exige Sport 380 recently.

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Mick Chan

Open roads and closed circuits hold great allure for Mick Chan. Driving heaven to him is exercising a playful chassis on twisty paths; prizes ergonomics and involvement over gadgetry. Spent three years at a motoring newspaper and short stint with a magazine prior to joining this website.

 

Comments

  • Abah kau on Nov 25, 2016 at 10:21 am

    Where is Danny Bahar now

    Like or Dislike: Thumb up 7 Thumb down 2
  • C. P. MOHAN on Nov 25, 2016 at 10:26 am

    LOTUS IS LIKE THAT IDIOM “FLOGGING A DEAD HORSE”

    Like or Dislike: Thumb up 3 Thumb down 12
    • Except this dead horse is winning

      Like or Dislike: Thumb up 11 Thumb down 4
      • CarBuyer on Nov 26, 2016 at 6:03 pm

        Positive cash flow definition, from businessdictionary.com – Situation where the cash inflows during a period are higher than the cash outflows during the same period. Positive cash flow does not necessarily means profit, and is usually due to a careful management of cash inflows and expenditure.

        Like or Dislike: Thumb up 4 Thumb down 0
  • Jean-Marc Gales as proton grp ceo to make them good again

    Like or Dislike: Thumb up 11 Thumb down 1
  • Henry on Nov 25, 2016 at 11:09 am

    Really? How? Paid off the GBP 270 million loan?

    http://paultan.org/2011/06/06/dany-bahar-if-we-couldn%E2%80%99t-afford-it-we-wouldn%E2%80%99t-do-it/

    Like or Dislike: Thumb up 3 Thumb down 8
    • kzm (Member) on Nov 25, 2016 at 3:16 pm

      installment lor..how do u service ur home or car loan?

      Like or Dislike: Thumb up 6 Thumb down 3
    • Ahmadjr on Nov 25, 2016 at 3:36 pm

      Do you pay off your loans for lump sum

      Like or Dislike: Thumb up 3 Thumb down 1
      • Henry on Nov 25, 2016 at 7:09 pm

        Do you know how much is the interest on the 270 million Pound loan? Do they even sell enough cars to pay this interest? Are you paying for them? This kind of loans have a tenure. You have to pay up when the time comes.

        Like or Dislike: Thumb up 8 Thumb down 3
        • JasonX on Nov 25, 2016 at 11:11 pm

          Henry, same as any other corporate loan… re-financing.

          As long as the company is valuable enough that the bank won’t make a loss if they liquidate the company, they will be very happy to re-finance/extend any loan as long as the company is able to prove that they are stable enough to pay off the upcoming interest consistently.

          Longer loan period means bank earns more money in the long run

          else, the bank would rather liquidate and minimize their loses.

          basically whatever means more profit (or less losses) for the bank would work.

          Like or Dislike: Thumb up 0 Thumb down 0
        • Luqman on Nov 26, 2016 at 11:03 am

          Cut the crap short, read their audited financials. That is if u know how

          Like or Dislike: Thumb up 0 Thumb down 0
        • And you think Lotus declared their profit before settling all the yearly operating expenditure including loan payment @interest…

          Like or Dislike: Thumb up 0 Thumb down 0
  • pengguna proton kecewa on Nov 25, 2016 at 11:53 am

    now that guy Jean-Marc Gales should be the new proton CEO

    Like or Dislike: Thumb up 4 Thumb down 1
    • 4G63T DSM on Nov 25, 2016 at 1:29 pm

      Not going to happen. Not in Malaysia. Not in a GLC.

      Look what they did to the gwailow MAS CEO.

      Like or Dislike: Thumb up 8 Thumb down 9
      • kzm (Member) on Nov 25, 2016 at 3:19 pm

        GLC oni MAS?

        Like or Dislike: Thumb up 2 Thumb down 0
      • Huat Say Yew on Nov 25, 2016 at 4:45 pm

        What happened in Mas? The gwailow Muller who chose to quit because of personal family problems is replaced by another gwailow Bellew what? And the new gwailow is making profits when the old one couldnt. So what is the problem? The gwailow can do his work in peace. Else he would leave too.

        Like or Dislike: Thumb up 9 Thumb down 1
      • Funny thing is, Mahathir selected him.

        Like or Dislike: Thumb up 0 Thumb down 0
  • Unker Lim on Nov 25, 2016 at 12:19 pm

    After 40 years to earn profit….mayb proton need to wait until 40yrs to gain profit..

    #slowclap

    Like or Dislike: Thumb up 1 Thumb down 3
    • Under founder & different gweilo ownerships, never made profits. Under P1, now made profits.
      Apa kebanggangan ini?!
      Ini tidak jadik!
      MUSTAHIL!

      Like or Dislike: Thumb up 7 Thumb down 0
  • Ok, then buy Proton now or return all the money Proton gave you as a form of solidarity.

    Like or Dislike: Thumb up 2 Thumb down 5
    • Solidarity what? on Nov 25, 2016 at 4:28 pm

      Dude, do you even know the meaning of solidarity? Don’t just say something just because it is on the news. Know a word’s meaning before saying it, otherwise you will only make a fool out of yourself.

      Like or Dislike: Thumb up 7 Thumb down 1
  • Mikey on Nov 25, 2016 at 3:21 pm

    Lotus Cars posted positive cash flow in “August” – its first in “40” years.

    Lets be practical here. Lotus are in positive after eight months, meaning the past 7 months are still in negative.

    Can we make any comment on this article without the financial position disclosure ?! Lets hope this is a sign of Good health of Lotus under the guidance of Jean-Marc Gales,

    Like or Dislike: Thumb up 1 Thumb down 3
    • Mikey on Nov 25, 2016 at 4:36 pm

      Correction :- Lets be practical here. Lotus are in positive after eight months, meaning the past 7 months are still in negative for 2016.

      Like or Dislike: Thumb up 0 Thumb down 3
  • Alifzz on Nov 25, 2016 at 4:46 pm

    Good news.

    Now Lotus should pay dividend to Proton.

    Like or Dislike: Thumb up 5 Thumb down 2
  • Andrekua on Nov 25, 2016 at 10:02 pm

    At least try to profit consistently first then only brag about it. Lotus still had a lot of debt hidden under Proton book. Just because they suddenly made few millions pound, they shouldn’t relax because they still owe hundreds of millions.

    Like or Dislike: Thumb up 2 Thumb down 0
 

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