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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 and Aston Martin to hook up?

This has been a tumultuous year for Lotus - to say the least - from the company being sold off back in January to its CEO Dany Bahar being fired in June to its questionable financial status and rumors of the British automaker being sold off to another automaker. First, we heard that Volkswagen was interested in acquiring Lotus and parent company Proton, a rumor that was later dismissed. Now Automobile is reporting that fellow Brit Aston Martin could be in the market to work with or possibly even merge with Lotus.
While this is pure speculation at this point, such a venture could prove to be beneficial for both independent companies. That's because with Lotus focused on lightweight, relatively affordable sports cars and Aston Martin producing high-end performance cars, there is virtually no product overlap between the companies. The article suggests that a person or company wanting to merge these two automakers would have to raise between $1.1 billion and $1.6 billion in order to make a go of it, however.
We're not sure what to think of this latest rumor, but anything that can help get the struggling brand back to health at least has our interest.

Lotus to produce new crossover in China

Lotus and its parent company recently signed a joint-venture agreement with Chinese automaker Goldstar to build vehicles in China for local consumption, and according to the latest report from Autocar, it'll all come down to a new sport-ute. That's because the market for C-segment compact crossovers in China is huge. So big that it's impossible for Lotus to ignore. Porsche is reportedly selling 30,000 Macans in China alone each year, and is expected to reach 50,000 per annum there in the near future. "Six million SUVs will be sold in China this year, and more than half of those are C-segment models," Lotus chief Jean-Marc Gales told Autocar. "That figure is forecast to rise to eight million in four years. C-segment SUV sales alone will be bigger than the entire German market." Little wonder, then, that Lotus and Proton are keen to dive in. Technical details for the new Lotus crossover are still being worked out, but we'll likely be looking at a steel monocoque chassis clad in composite and aluminum body panels, riding lower than a Macan and weighing a good 400-500 pounds less. Power will likely come (at least initially) from the same 1.8-liter four and 3.5-liter V6 that power Lotus' sports cars, but driving all four wheels. A hybrid system could follow, and the finished product is likely to adopt a nameplate starting with the letter E – in the grand tradition of the Elise, Exige, Evora, Esprit, Europa, Elan, et al. According to Gales, "Our car will drive beautifully. It will be supple and comfortable but the emphasis will be on handling. It will be the lightest and fastest of its class on the track." This would be the first crossover Lotus would design, engineer and actually bring to market, but not, strictly speaking, the first time it has toyed with the idea. There was the APX concept (pictured here) it showcased in 2006 and the T5 that Proton essentially licensed Chinese automaker Youngman to build with Lotus' name on it. But the former was never put into production and the latter wasn't a proper Lotus. The design is currently being worked out before a prototype can be put together so that the joint venture can get the manufacturing license it needs from the Chinese government. So we're likely looking at another year or two before we see something solid. "Let's get the design right, then make a prototype," said Gales. "Let's make it beautiful and very light.