2011 Lotus Evora $68k Msrp on 2040-cars

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Lotus could be sold to Chinese automaker Geely

Two things are constant throughout the history of Lotus Cars: amazing vehicles, and financial struggles. Frequent changes in both ownership and leadership have left the company's future up in the air. And while the new management has improved quality and set a new product plan in place, its seems that Lotus could have a new parent company soon. Despite comments to the contrary, Chinese automaker Geely is rumored to be interested in acquiring Lotus Cars. The British automaker has been owned by Proton since 1996, but after Proton was sold to DRB-Hicom in 2012 investors suggested selling off Lotus. The Star Online reports that PSA in France is rumored to be looking at purchasing Proton cars from DRB-Hicom. In turn, Geely, the parent company of Volvo, is interested in purchasing Lotus from Proton. The report states that Geely has no interest in mass-market vehicles from Proton, while crossover-focus PSA, owner of Peugeot and Citroen, has no interest in a sports car manufacturer like Lotus. China has been encouraging its native automakers to purchase and acquire technology it lacks. Buying Lotus looks like it would benefit both companies. Lotus needs an influx of cash while Geely, looking to compete further on the global stage, would gain a great deal of technical and engineering knowledge from Lotus. Geely's stewardship of Volvo has been mostly hands-off, while giving the Swedish company enough money to invest in new platforms and technologies. If the same were to happen to Lotus, Colin Chapman's company could have its best years ahead of it. Related Video: News Source: The Star Online via Car BuzzImage Credit: Getty Rumormill Lotus Volvo Citroen Peugeot Lightweight Vehicles Performance Supercars Geely

Lotus sells loads more cars, earns way more money

Sports-car company Lotus has reason to be excited. It released some facts on its sales and financial performance for the 2016 and 2017 fiscal year, and it has seen some impressive improvements. According to the company, it sold nearly 60 percent more cars in mainland Europe compared with the 2015/2016 fiscal year, and it sold six times as many cars in the U.S. compared with that year. This helped it go from a loss of GBP16.3 million for the previous year in earnings before interest, taxes, depreciation and amortization (EBITDA) to a GBP2 million profit EBITDA. The fact that those numbers are given before all those extra expenses is noteworthy, though, as it means the company isn't truly profitable yet, despite major gains. The company did report numbers that only excluded tax, and those show the company still lost money. But the good news is that it lost much, much less money than the year before. Before taxes for the 2015/2016 fiscal year, the company lost GBP41.2 million, and this year, it only lost GBP11.2 million. The company expects it will be profitable before tax in the coming year. So Lotus isn't perfectly healthy yet, but this, combined with Geely's recent acquisition, shows it's well on its way to becoming fit as a fiddle. We like the cars Lotus makes, so we hope that things keep getting better, and that we'll maybe get more Lotus models in the future, beyond just the Evora road car and 3-Eleven track car. Related Video: Featured Gallery 2017 Lotus Evora 400: First Drive View 29 Photos Image Credit: Lotus Earnings/Financials Lotus Coupe Lightweight Vehicles Performance

Lotus bankruptcy case dismissed in UK

Times have not been easy for Lotus lately, so when its name came up on a list of companies scheduled for a liquidation court, it seemed like the end could be near for the fabled British builder of lightweight sports cars. As it turns out, Lotus was on the Companies Court Winding Up list in the UK due to a contractual dispute with a supplier, and the High Court has since dismissed the case.
According to Autocar, Lotus and the supplier actually resolved their issue earlier in the year, but the process couldn't be stopped until seen by a judge. The report says that the case was initiated when Group Lotus failed to pay some of its debts, which is probably a fair indication that Lotus is far from out of the weeds in regards to its financial difficulties.