As-new 1997 Lotus Esprit W/18778 Miles. All Books, Records And Service Manuals! on 2040-cars

Auto blog

European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.

Lotus introduces Certificate of Provenance program

Lotus is diving into its vast archives to make it easier for owners to trace their car's history. It launched a global program called Certificate of Provenance that provides historical information about a specific car. Available through authorized Lotus dealers, the Certificate of Provenance includes details like the car's VIN and its original color. It also notes the date the car rolled off the assembly line in Hethel, England, and the date it entered the company's dealer network. Key specifications, including the engine, the transmission, and the extra-cost options the original owner ordered, are printed on a personalized Build Specification Letter. Owners who order the certificate will also receive a letter from Lotus CEO Phil Popham in which he pledged to explain the changes going on at the company, and how it's preparing for the future. Summing up the situation in a letter will likely be easier said than done, because Lotus (which is now controlled by Geely) is undergoing a complete transformation that includes a major product expansion and a renewed focus on the American market. It called the Evija, its first electric model, a trailblazer whose technology will permeate other battery-powered cars.   Related: Geely, with Volvo's help, plans to grow into a global auto giant   In addition to the aforementioned documents, enthusiasts who order a Certificate of Provenance will also receive an aluminum plaque engraved with the owner's name, a leather keychain, a carbon fiber bookmark, and a Lotus pen. Pricing starts at GBP170 plus the cost of shipping in the United Kingdom, a sum that represents about $225. And any Lotus owner can order it regardless of whether they own a 1959 Elite or a 2020 Evora GT. The first car certified by Lotus is a 1981 Esprit Turbo (pictured) that stands out as the last company car ordered by company founder Colin Chapman. Wearing registration number UVF 464X, it remained in Chapman's possession until his death in 1982, and it was sold to a private buyer the following year. Lotus recently purchased it with 11,000 miles on its odometer, and it plans to restore it before adding it to its heritage collection. Chapman didn't settle for a regular-production Esprit Turbo. He ordered his car with power steering (which wasn't available on the Esprit at the time), a lowered suspension, and modified brakes. He also ordered BBS wheels. Related Video:

New Lotus SUV could be based on Volvo architecture

Last year, Chinese carmaker Geely upped its stake in Lotus to a majority, recently investing more money into the British brand. Now, talking with Automotive News, CEO Jean-Marc Gales says Geely has approved three new models: two sports cars and the third an SUV. The sports cars will be announced later this year, and they will reach production in 2020. The last time a properly new Lotus debuted was in 2009 with the Evora, so a decade later new products are certainly due. But what about that SUV? Autocar says that since Geely also owns Volvo, that makes it possible for Lotus to base the SUV onto the Volvo SPA platform, which is also used in the XC60 and XC90. The choice of platform would mean the SUV would have to be a four-cylinder model, but that's nothing new to Lotus. It could even use Volvo's "Twin Engine" hybrid setup, which would mean a power output of over 400 horsepower as stock, and that with Lotus' eagerness for lightness could be a potent combination. Autocar quotes Gales as saying, "It will go round bends like nothing else in its segment." The target weight for the approximately Porsche Macan-sized SUV is under 2,000 kilos (4,400 pounds), and the Macan weighs 4244 pounds in 400-hp Turbo guise. The Lotus SUV is projected to hit the market in "about four years," and it's very likely to be built in China instead of Britain, as the Chinese market is very enticing — especially for this class of vehicle. The vehicles will still be designed at Lotus' Hethel HQ. Related Video: