Proton to Sell Lotus: Rumors Surface Once Again
The New Year may be just around the corner, but it’s never too early to spread some rumors. Proton Holdings is believed to be seriously considering the sale of their Lotus sports car division, a brand that has never made a profit for the Malaysian-based company.
Proton originally purchased the British sports car brand in 1996, but it seemed like a mismatch from the start. Proton specializes in manufacturing sedans and taxis in their home market while Lotus aspires to produce thrilling sports cars. Perhaps the goal was to have a more complete portfolio for Proton, but the lack of profits from Lotus has begun to take its toll.
Even with the new changes Lotus has been making – releasing the above City Car for example – it’s believed that the automaker won’t have the money to fund its future plans, which could be another reason for Proton to sell. There has been reports that China-based Shanghai Automotive Industry Corp. and Luxembourg-based Genii Capital were interested in purchasing Lotus, but both have denied those rumors.
Last year Lotus only sold 1,985 vehicles. It is estimated that they need to sell around 8,000 to turn a profit – yikes.
[Source: Bloomberg]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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i hope Proton maks designs better than this ...