2005 Lotus Elise Turbocharged on 2040-cars

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Lotus Emira delayed for the U.S. while allocation amount and prices rise

It's Lotus' turn to catch the production and pricing virus, an ailment that's caused almost every automaker to lag on delivery timetables while increasing prices for reservation holders. Last October, Lotus Emiras intended for the UK home market were already trailing delivery estimates by six months. Early last year, Lotus expected to get Emiras tagged with U.S. plates as soon as fall of 2022. Now, CarBuzz reports that Emira V6 First Edition units destined for the U.S. will land on our soil this summer but won't be released to customers until between mid-October and mid-December. According to a letter sent by Gator Motorsports' franchise Indy Lotus in Indianapolis, Indiana, the holdup is U.S. certification.    On top of the delay, prices are going up for all U.S. and Canadian reservation holders except those who have completed paperwork for the initial North American V6 First Edition allocation. Lotus said the various troubles and quagmires around the world have increased the Emira's unit cost by around $14,400. Folding that into the MSRP would make the price $108,300 before destination. We say "initial" about that allocation because Lotus has upped the North American allotment by 600 units, making 1,300 in total to come to come to NA, the U.S.-specific number slightly smaller. When the second tranche becomes open for reservations, they will cost $105,400 in the U.S., that price already on the U.S. retail site configurator. Anyone who reserved the AMG-powered four-cylinder Emira I4 First Edition is going to see their cost rise from the $85,900 announced before. The new price MSRP be revealed until later this year, deliveries not scheduled to commence until Q2 of 2024. Of course, we should expect the cost of the regular series production cars to rise as well. The situation varies by market, so anyone on any of Lotus' lists should check with their Lotus dealer. A lively thread on Emira Forum that started in February is up to 26 pages as global Emira buyers try to figure out who needs to confront what increase. Part of the ire comes from Lotus having promised none of the pricing challenges would be passed on to reservation holders, saying, "The price you're being quoted is the price you'll pay for your Emira."     Ready for the good news? There will be more options to spend your money on.

2015 Japanese Grand Prix is a little Mercedes, a lot of zen

Just one week on from the issues in Singapore Mercedes-AMG Petronas appeared to have solved its clamp problems and everything else. Daniil Kvyat at Infiniti Red Bull Racing took the two Free Practice scalps on Friday, but when it came time for qualifying the front of the grid looked really familiar: Mercedes' Nico Rosberg took his second pole position of the season, Lewis Hamilton next to him in second. Kvyat had a hand in that, too, the Russian getting into a big accident in Q3 when he put two wheels on the grass heading into the hairpin and veered into the tire wall so hard that he flipped. That ended qualifying before a number of drivers had a chance to improve their times, Hamilton among them. That's how Valtteri Bottas got in third for Willliams ahead of Sebastian Vettel fourth for Ferrari. Felipe Massa had the second Williams in fifth, ahead of Kimi Raikkonen in the second Ferrari. Daniel Ricciardo lined up sixth for Infiniti Red Bull Racing, a team we're going to have to enjoy watching for the rest of the season since it might not exist come 2016. Romain Grosjean gave Lotus some good news by getting into eighth, the team so strapped for cash that it couldn't get into its hospitality area, so it held press conferences outside and ate at Bernie Ecclestone's Paddock Club. Sergio Perez took ninth for Sahara Force India, and Kvyat slotted into tenth after not setting a time. The Russsian's race would begin from the pit lane once his mechanics rebuilt his car. It wouldn't be a Formula One start lately without someone at the front having clutch problems. This time it was pole man Rosberg, whose power unit got too hot and put him a few horsepower down on Hamilton through Turns 1 and 2. That's half of how Hamilton took the lead from the lights going out, and the Brit kept it throughout the race. Rosberg, however, said his race was lost when Hamilton pushed him wide through Turn 2, a move Hamilton defended. Rosberg finished almost 19 seconds behind his teammate, a gap that probably isn't fully explained by that opening incident. Hamilton's race was so uneventful that we almost never saw him on camera – that is, we saw him so much less than we usually see him when he's out in front and unpressured that Nikki Lauda said he'd ask Ecclestone why the cameras avoided him. The conspiracy theory holds that FOM was punishing Mercedes for not supplying Red Bull with engines next year.

Lotus F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.