How deep is the hole that Lotus has dug itself? In less than a year, Lotus parent company Proton gets bought out by Malaysian automotive manufacturing corporation DRB-Hicom, Lotus CEO Dany Bahar gets fired for ethically questionable practices, the 5-car portfolio gets scaled down and postponed, the automaker withdraws its attendance from the Paris Motor Show, and the entire Lotus operation in general is plagued with severe losses and no near-term solution to profitability.
Just when some believed the company couldn't possibly get any worse, it did. Lotus is in big trouble and the company has cancelled the development for the new flagship Esprit.
First unveiled at the 2010 Paris Auto Show, the Lotus Esprit concept represents the halo vehicle of Lotus' five-vehicle product push. A hybrid sports car that was supposed to receive an in-house developed 5.0 liter V8 engine mated to a 100-hp electric motor, financial uncertainty has caused Lotus' lofty ambitions to no longer remain viable.
Beyond Lotus' challenges in developing the Esprit, the British sports car boutique is suffering from fundamental problems as well. Suppliers have reported that Lotus has had difficulty paying for orders. In an effort to formulate a more realistic path for the brand, Lotus will continue on with its Elise, Exige, and Evora range for now.
Considering the aging model line-up, the dry product pipeline, as well as the high levels of internal uncertainty within the brand, the future of Lotus looks quite bleak. While the Lotus Elise is certainly a fun, extraordinarily lightweight, and highly capable sports car, its hardcore track car cred and its lack of creature comforts cause the car to be a rather unpleasant daily driver, compromising its chances of achieving high volume sales. What's more, a new halo might just be the thing Lotus needs to generate fresh publicity towards the company. With the Esprit canned, what do you think Lotus should pursue next? Let us know in the comment section below.
[Source: AutoGuide]
