Discussion
Had a courtesy call from my local dealer yesterday. He was pretty upbeat about prospects as you would expect him to be. Just about the entire 2002 Esprit run is sold out and Lotus are quoting a 6 month waiting time. Record Elise registrations in January were beaten in March - he alone has sold over 50 since the beginning of the year. One of the main reasons for the redundancies is improvements to and rationalisation of the new Elise production line as more automation has been introduced. If you recall a big chunk of last years loss was the delays in ramping up S2 production on this new line.
But there are indications that things aren't as bad as some would have you believe. I'm in Sales and Marketing - one of the first things to go when funds are tight are the trade shows. But Lotus are showing their wares at at least 2 events in the coming weeks (JEC Compositites in Paris and EngineExpo 2002 in Stuttgart) and don't forget Proton have invested well over £50m since they took over. They want to see some return on that surely.
So what consclusions can you draw? I guess they are not out of the woods yet given the uncertainties at senior management level, no official confirmation of the US Elise or an Esprit replacement as well as the worldwide downturn in engineering projects. But looked at as a business I'd say they are in reasonable shape. Not great - still a lot of work to do - but I reckon they can pull it off. Let's not write them off just yet - at least not before I get my 2004 Esprit......
But there are indications that things aren't as bad as some would have you believe. I'm in Sales and Marketing - one of the first things to go when funds are tight are the trade shows. But Lotus are showing their wares at at least 2 events in the coming weeks (JEC Compositites in Paris and EngineExpo 2002 in Stuttgart) and don't forget Proton have invested well over £50m since they took over. They want to see some return on that surely.
So what consclusions can you draw? I guess they are not out of the woods yet given the uncertainties at senior management level, no official confirmation of the US Elise or an Esprit replacement as well as the worldwide downturn in engineering projects. But looked at as a business I'd say they are in reasonable shape. Not great - still a lot of work to do - but I reckon they can pull it off. Let's not write them off just yet - at least not before I get my 2004 Esprit......
I've had a bit of inside info now which clarifies what I'd originally heard.
The recent redundancies were part of the process which has been going on for the last couple of months. Most of the names of people provisionally selected were announced a couple of weeks ago and there has been little said publically although most of these staff have now left, apparently, allegedly, so we're told including famed test driver Alistair McQueen!
The final redundancies last week were a two-three senior managers (fewer than expected).
The recent redundancies were part of the process which has been going on for the last couple of months. Most of the names of people provisionally selected were announced a couple of weeks ago and there has been little said publically although most of these staff have now left, apparently, allegedly, so we're told including famed test driver Alistair McQueen!
The final redundancies last week were a two-three senior managers (fewer than expected).
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