We’ve been fans of Lotus since the Colin Chapman days and loved driving its cars, but often wondered about the company’s financial health.
Now Bloomberg reports that Lotus may be up for sale.
General Motors sold the small British automaker to Malaysia’s Proton Holdings in 1996. That has always seemed like an odd fit, the small sports car firm with its famous engineering talents owned by a producer of inexpensive cars. Now, Bloomberg explains, Proton may be cast off by its state-run parent. Selling Lotus might ease that problem.
Turns out Lotus hasn’t made a profit in 15 years. It has shown promise, of late, with a slate of proposed new cars. Then there are the revived racing plans in Formula 1 and IndyCar. But the Hethel, England-based automaker needs time to fulfill those expansive and expensive plans.
Lotus CEO Dany Bahar has said Lotus can make a profit in 2014, but Proton’s predicament is happening right now. And Bahar’s plan calls for Lotus to sell 6000 or more cars per year by the middle of this decade.
There are suitors out there ready to bid for Lotus, but at what price?
Stay tuned.
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