Lotus' brave new world dead in the water? Proton may sell stake
It seems Proton is in a little trouble, therefore so is Lotus. Following a 76 percent drop in profits in the last quarter, it's rumoured that Proton may hawk its stake in Lotus Group International to make sure it can still make small, cheap, horrific hatchbacks for the few people who haven't heard of Fiat, Ford, Vauxhall, SEAT, MINI...
The news comes from a recent Bloomberg report and Gen Eng Peng, Head of HwangDBS Investment Management Bhd, who thinks the sale is more of a dead cert than Vettel winning an F1 race.
Peng commented: "It will make sense for them to sell it... Proton and lotus are not a good fit. They are in different market segments, both in terms of geography and product".
Yes, he's stating the obvious rather fantastically but put it like this: If you have a really cool friend who saps your money and hangs around with dubious 'creative' types would you bin them off or keep dragging them from bar to bar, hoping someone, anyone, will pick him/her up?
Speaking of which, Lotus' CEO Dany Bahar's ambitious plan hasn't been in the headlines as much as you'd expect of late – his first new car is supposedly just a year away and there was nary a mention at the Frankfurt Motor Show. Still, we've a new Exige to look forward to. That'll be nice.
Hat tip to Caradvice.com.au