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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 signs joint venture agreement with China's Goldstar

Lotus and China's Goldstar Heavy Industrial Company are forming a joint venture that will bring the historic British sports-car maker into the country. "The collaboration seeks to accelerate the development of Lotus cars in the premium sports segment in China," according to the announcement. The JV will include research projects on efficient and advanced technology, and ultimately lead to sales of cars there, Lotus said. China's auto market is no longer experiencing the double-digit growth of the past, but it still continues to expand. Meanwhile, Lotus saw sales jump 55 percent in the last fiscal year and it opened 36 new dealers, according to CEO Jean-Marc Gales. The joint venture announcement also hints at the possibility of Chinese-made models, but it shouldn't dilute the brand. Lotus is clear that core vehicles like the Evora, Exige and Elise would remain exclusively in production at the headquarters in Hethel, England. Just a couple years ago, Lotus appeared to be on its deathbed after losing a quarter of its workforce, but since that setback the company has started to crawl back. PROTON, LOTUS GROUP AND GOLDSTAR SIGNED JV AGREEMENT KUALA LUMPUR – PROTON Holdings Berhad ("PROTON") the ultimate holding company of Lotus Group, announced that it has signed a Joint Venture ("JV") Agreement with Lotus Group International Limited, United Kingdom ("Lotus Group") and Goldstar Heavy Industrial Co. Ltd. ("Goldstar") for a possible business expansion of Lotus cars in the People's Republic of China. The collaboration seeks to accelerate the development of Lotus cars in the premium sports segment in China, leveraging on the incentives offered by the Fujian Provincial Government. Both PROTON and Lotus Group are subsidiaries of DRB-HICOM Berhad. Signing on behalf of PROTON was the Honourable Tun Dr Mahathir Mohamad, Chairman of PROTON and former Prime Minister of Malaysia and witnessed by Dato' Abdul Harith Abdullah, Chief Executive Officer of PROTON. Signing on behalf of Lotus Group International Limited, United Kingdom was Jean-Marc Gales, Chief Executive Officer and witnessed by Mr Rohime Shafie, Director of Lotus Group and Chief Financial Officer of PROTON; and signing on behalf of Goldstar was Mr Zheng Qianghui, Chairman of Goldstar and witnessed by Mr Zhai Wenliang, President of Goldstar.

Lotus introduces Exclusive customization program

Lotus doesn't sell much beyond the Evora 400 in the US, but the announcement of a new personalization program won't be limited to just that model. The Lotus Exclusive program will be applicable to every model that Lotus makes, including the Elise and Exige in all their many iterations, the new 3-Eleven, and the Evora – which remains, for the time being, the only model currently certified for use on American roads. The company will even apply its new range of customization options to pre-owned models. Hethel is currently rolling out the Lotus Exclusive program in Europe, but plans to expand its availability later this year. Buyers will be able to pick from an expanded range of exterior colors – or have a custom hue mixed up specially – in matte, gloss, metallic, or pearlescent finishes. Custom graphics can be applied to the roof and mirror caps, and various exterior components (from spoilers to add-on decals) can be ordered in one of four colors, as can the three available styles of racing stripes. The interior will be available to order with five colors of leather and four colors of stitching thread to give the cockpit a unique touch. Of course Lotus isn't the first manufacturer to offer such a personalization service, which is fast becoming standard fare among exotic and luxury automakers – particularly in Europe. In the UK alone you'll find McLaren Special Operations, Q by Aston Martin, Rolls-Royce Bespoke, and Bentley's Mulliner division. Other examples include Ferrari Tailor Made, Lamborghini Ad Personam, and Porsche Exclusive. Dodge even offers the "1 of 1" program for the Viper GTC. At the very pinnacle of the exotic supercar market, however, manufacturers like Bugatti, Pagani, and Koenigsegg build every one of their supercars to order, according to the customer's specifications, so personalization comes part and parcel with the bragging rights. Related Video: X MAKE YOUR MARK WITH LOTUS EXCLUSIVE - Tailor made Lotus cars to individual customer requirements - Created by the Lotus Design team & available for both new and pre-owned cars - Exciting interior and exterior options, from subtle details to extensive personalisation Letting Lotus owners set the tone, the new personalisation service Lotus Exclusive offers sports car fans a unique ownership proposition.