Lotus Recovery Underway: Exec

Lotus Recovery Underway: Exec

The recovery process for Lotus has begun as the automaker has started cutting costs and expanding sales.

Last year, the British automaker’s sales increased 86 percent in its U.K. home market while export sales, especially to China, have also improved. Lotus currently has a four-month waiting list for its cars, a good sign for the automaker that went through turmoil under former CEO Dany Bahar.

SEE ALSO: Lotus Awarded Nearly $17M in Government Grants

The brand’s chief operating officer, Aslam Farikullah, has identified two key objectives for the British automaker: maintaining financial stability and further improving the build quality of its vehicles. Improvements have been made to the automaker’s own manufacturing practices in addition to contact and discussions with underperforming suppliers.

Last year, Lotus production rose to 1,368 units and its U.K. sales grew from 120 units to 230 units. Currently, Lotus is producing around 40 cars a week at its Hethel plant and the aim is now to increase output to 45 or 50 Elise, Exige and Evora models per week. The brand’s ultimate goal is to produce 1,800 to 2,000 vehicles a year.

As for new models, Farikullah was quiet on that end, saying “[the company’s] long-term vision is for Lotus to be at the forefront of automotive innovation.”

GALLERY: Lotus Exige V6 Cup


[Source: AutoCar]

Discuss this story at our Lotus forum.