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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 responds to rumors of demise, promises 2016 MY Evora

It's not been a great week for Lotus. Seven days ago, the UK-based automaker laid off a quarter of its workforce, terminating "up to 325 jobs." And then, just a few days ago, it was reported that the company would be ending US sales of its well-received Evora due to the expiration of an airbag exemption. The Evora is the only vehicle Lotus sells in the US, meaning its end effectively removes the brand from the market.
That was apparently a bridge too far, though, as the company has issued defiant statement, claiming it'll be back, in both the US and Canada, for model year 2016, with an air-bag compliant Evora.
"I know that this will be welcome news to our thousands of owners and fans in North America, but the reality is that there was never any intention to leave. The North American market is vitally important for us and we intend to expand our dealer network and grow our sales volumes in the future," Jean-Marc Gales, CEO of Group Lotus said in a statement. "I would like to thank our fantastic Lotus following for their support over the years and remind them that we are working on many exciting products for the future. We will continue to explore our core values on how to make a sports car better by making it faster, lighter and maintain the pure driving experience."

Lotus pulled 55 pounds out of the Exige and added power to create this Sport 380

The hard-core Lotus just got harder. Or maybe corier? Anyway, the Lotus Exige Sport 380 is the most extreme iteration of the Elise and Exige yet. It hits 60 mph in 3.5 seconds, has even more downforce than the Sport 350, and weighs a full 55 pounds less than that car if you opt for the lightweight exhaust. With a curb weight of 2,425 pounds, that weight reduction means something. Mass was pulled out of a variety of places on the car, including the front splitter, front "hood" insert, wing, and diffuser surround, all of which are rendered in carbon fiber and save a cumulative six pounds. Swapping the rear glass to polycarbonate reduces weight by two pounds, a lithium-ion battery in place of the standard one removes 23, the carbon racing shell seats cut 13, and lighter wheels and brake discs lower the total by 22. Lotus even messed with the lights on the back, going from four big ones to two and making do with smaller fog and reverse lights, saving just over half a pound. That optional titanium exhaust saves an additional 22 pounds. And it's not like the Sport 350 was a porker. As the name suggests, there's more power coming from the supercharged and heavily massaged 3.5-liter Toyota V6. The Sport 380 makes 375 horsepower and 302 pound-feet of torque, up from 345 and 295 in the Sport 350. The 380 accelerates to 60 mph in 3.5 seconds (down from 3.7) regardless of which transmission you choose, but we highly recommend the six-speed manual over the auto, if only for its fantastic and beautiful exposed linkage. Tweaks to the aero package keep drag in check while increasing downforce by about 60 percent over the Sport 350, for a total of 309 pounds at top speed. Which, if you're curious, is 178 mph for the manual, 170 for the auto. So another vote for the three-pedal version. We'll have to remain curious, though, because sadly the current Exige is still not available in the US in any form, nor will it be. But Lotus is working on a new one that should arrive in a couple years to join the rejuvenated Evora lineup – the fantastic Evora 400 and upcoming, fantasticker Evora Sport 410. Related Video: Featured Gallery 2017 Lotus Exige Sport 380 View 14 Photos Image Credit: Lotus Lotus Convertible Coupe Lightweight Vehicles Performance