Lotus to Show Profit by 2017: CEO
Lotus plans to be back in the black by 2017.
The company’s CEO, Jean-Marc Gales, believes the British automaker will be profitable by 2017 after years of losing money. Since taking over the company in 2014, Gales has implemented measures to cut costs and improve the company’s offerings, while increasing sales in the short term by making changes to its current three-car lineup. The automaker also doesn’t plan on launching any new models until its crossover debuts in 2018 or 2019, which will be built at an all-new factory in China.
SEE ALSO: Lotus Evora 400 is Much Faster Than its Predecessor
In addition, Lotus is looking forward to its return to the U.S. with the revamped Evora 400 model that debuted at this year’s Geneva Motor Show. The company redesigned the sports car so that it would meet U.S. standards and Gales expects the U.S. to become the Evora’s largest market.
Other changes that Gales has made since taking the helm include switching suppliers to cut costs while 260 jobs were cut at the company’s headquarters. He also does not expect that the engineering side of the business will grow for another three to four years and as a result, has scaled back Lotus Engineering. The CEO also aims to increase Lotus dealerships to 200 by the end of the year, from 174 at the end of March.
[Source: Automotive News Europe]
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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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