During the 2010 Paris Auto Show, Lotus unveiled an unprecedented 5 all-new models at once in a display of all-out commitment to a new era at Lotus. For more than 15 years, Lotus had been burdened by losses as well as debts while time and finances wore more and more thin. The former Lotus CEO Dany Bahar faced two choices-- to eat or be eaten, to fight or flee, to "sell the company or run it to its potential." Bahar and Lotus boldly answered to run it.
However, due to a rapid succession of events and factors that negatively affected Lotus, the industry hasn't heard anything about the five models since. Parent company Proton admitted to financial troubles that led to its eventual sales to Malaysian conglomerate DRB Hicom. Early last month, Dany Bahar, the visionary of the new Lotus, was fired from the company due to unethical conduct.
Unable to ignore the series of both external and internal challenges, Lotus has just announced its withdrawal from the upcoming 2012 Paris Auto Show, according to reports from Car and Driver.
The best case scenario for Lotus would be a withdrawal that allows for the company to invest some time in regrouping its organization and business plans. In the worst case scenario, withdrawal would signal the first of a series of events that lead to the end of Lotus production vehicles. We certainly hope it's the former.
