Lotus Cars job losses as 'volatile market' and US tariffs blamed
Up to 270 jobs are to go due to "evolving market conditions including the US tariffs", Lotus says.
www.bbc.co.uk
3rd round of Redundancies at Lotus 😞
- Thread starter MiamiBlue
- Start date
www.bbc.co.uk
Lotustoronto
Emira Addict
Tomorrow mornings (US Eastern Time zone) earnings call for Lotus will be very telling on the future. My take - they just received another 300M investment loan / dilution of stock (depending how you look at it) with an American investment firm. They clearly had a case to make for someone to invest. Also ex Volvo CEO is now on the board at Lotus - expect to see US manufactured hybrid Electre's for both US and EU markets. I don't think this is a closure of Hethel, but I do think it's the end of any type of significant manufacturing - As Emira sales dwindle down, Hethel will most likely become a skunkworks factory for very low production super / hyper cars. Basically a marketing / design / engineering studio with a very small manufacturing foot print. I would expect Lotus' next "sports" car to be much more expensive and far more upmarket.Ok at this point, I really am not sure what to do.
I was about to order an Emira V6 SE next month. I was drooling over the car since its release and I am finally in a position to buy one and now this.
My dealer is only a 4 min drive away but if Lotus really is dying I dont believe there is a that they provide warranty which really puts me off. I am also not keen on prices tanking as soon as Lotus goes into administration. Or soemthing else happening while I am still wating on my car. It just feels like a stupid desicion.
What are people thoughts on this? Would you guys order a new 2026 Emira now? Really having seconds thoughts
Getting rid of "old" Lotus management will allow Geely to push the envelope a bit more. I don't think Geely wants Lotus to be considered a tier below Porsche anymore. They want luxury car status and are probably pivoting the company into that direction even more so. Lower volume requires less staff. The mass manufactured SUV (EV's / hybrids) are suppose to be bringing in the big money and so far as been unsuccessful. Lotus needs to go up a ring in the luxury ladder for their plan to work. I am not convinced they can pull it off, but the current business model and Hethel build quality clearly wasn't working either. Old Lotus ideas and management had its final chance at bat, it's time for something new.
Worst case scenario is Hethel is closed down with 12-24 months and the Lotus brand will probably fold soon after.
I'm 50/50 on what comes next.
Good grief, no. If you must have one get a used one with a 3rd party warranty. Some dealers are now part of a Car Care Plan warranty scheme for cars coming out of Lotus warranty. Jon Seal sports cars, advertise on here, are offering a 3rd party warranty via a trusted partner. Lotus are organising the Car Care Plan warranty for existing owners to buy and should be available soon I'm told.Ok at this point, I really am not sure what to do.
I was about to order an Emira V6 SE next month. I was drooling over the car since its release and I am finally in a position to buy one and now this.
My dealer is only a 4 min drive away but if Lotus really is dying I dont believe there is a that they provide warranty which really puts me off. I am also not keen on prices tanking as soon as Lotus goes into administration. Or soemthing else happening while I am still wating on my car. It just feels like a stupid desicion.
What are people thoughts on this? Would you guys order a new 2026 Emira now? Really having seconds thoughts
If you do buy search for a car that has had all recalls done, all software updates and doors and tailgate replaced. A good amount of cars haven't had the panel/paint problem, YET, so perhaps avoid those. Most bodyshops would be able to sand, prep and respray the small bubbles that appear but that will cost you if Lotus go out of business.
I'm waiting for confirmation of the warranty that Lotus CS have promised me to arrive and then mine goes up for sale. All of the above, and more, sorted under warranty.
Will used prices drop dramatically or will the Emira start to see a rise in interest as it becomes scarce?
I am based in switzerland. There is a total of 7 (!) manual V6 cars available, most of them with the touring suspension and not in a spec I like. And its not like they are cheap. A brand new 2026 V6 SE with my spec would be „only“ £15k more. So I do think its not an easy desicion…Good grief, no. If you must have one get a used one with a 3rd party warranty. Some dealers are now part of a Car Care Plan warranty scheme for cars coming out of Lotus warranty. Jon Seal sports cars, advertise on here, are offering a 3rd party warranty via a trusted partner. Lotus are organising the Car Care Plan warranty for existing owners to buy and should be available soon I'm told.
If you do buy search for a car that has had all recalls done, all software updates and doors and tailgate replaced. A good amount of cars haven't had the panel/paint problem, YET, so perhaps avoid those. Most bodyshops would be able to sand, prep and respray the small bubbles that appear but that will cost you if Lotus go out of business.
I'm waiting for confirmation of the warranty that Lotus CS have promised me to arrive and then mine goes up for sale. All of the above, and more, sorted under warranty.
Will used prices drop dramatically or will the Emira start to see a rise in interest as it becomes scarce?
The spec of my 2023 V6, sport, manual is now £106,750/€123,500 here in the UK, with an additional £4,500 ish in 1st year road tax. Used models with a couple of 0000 miles are in the £62,000/€70,000.
John_Matrix
Emira Fan
Anyone looking to order a new one now is bold indeed. If they flatline there would have to be serious concerns about what warranty remains and how it would work.
TVR made standout looking cars. They never became more valuable when TVR folded.
TVR made standout looking cars. They never became more valuable when TVR folded.
Nick in Sydney
Emira Fiend
Not sure if building in the US will lower the production costs. US wages are necessarily cheap, and still tons of regulations.
Think I mentioned before- IMO - Lotus Marketing really screwed up building excitement in the Emira.
One demo turbo was delivered to the US auto review companies; and the first version was a dog. When the final version was ready 2 years later, crickets.
Just one small C&D driveline eval, which was a great article, but that article ins't indexed and you can easily find. Lotus PR/marketing should have pushed hard to have all the big players review the new car.
Pretty sad watching Lotus fall apart in slow motion.
Think I mentioned before- IMO - Lotus Marketing really screwed up building excitement in the Emira.
One demo turbo was delivered to the US auto review companies; and the first version was a dog. When the final version was ready 2 years later, crickets.
Just one small C&D driveline eval, which was a great article, but that article ins't indexed and you can easily find. Lotus PR/marketing should have pushed hard to have all the big players review the new car.
Pretty sad watching Lotus fall apart in slow motion.
This news is specifically about the Hethel factory relating to Lotus Cars. It’s no surprise Lotus Technology would have little patience for slowing Emira sales given their acquisition…..
I mostly agree with this but on a more positive side, I think that the chances of Hethel closing are lower. I am so very sorry for the layoffs but for what remains, and for what Geely has planned (going more luxury), Hethel might actually gain “value”… IF things are done correctly from now on. And THIS is where I have much less hope.
For what concerns getting the new V6 SE, well…..
@Foxy87 did you have a look at the Italian used marked? We used to have quite a few for sale 3-4 months ago.
geoffbland
Emira Fanatic
Yeah cos Geely will listen to a bunch of car nuts wanting to keep a tradition alive, rather than make financial decisions
geoffbland
Emira Fanatic
Well, this goes to the local MP and government not Geely. Probably equally as unlikely to make a difference but you never know. Election results in 2024 were fairly close so maybe the local MP will care...
Six Speed Stephen
Emira Fiend
They did just get $300mm from an American firm. That's a significant amount of money. Curious what their plans are for Lotus
freefall_junkie
Emira Fiend
I'm also very curious. All the recent redundancies at Hethel suggest that at the very least they must be severely scaling back Emira production if not planning to halt it altogether. Who knows, maybe the $300m is to move production elsewhere? I suspect that kind of money wouldn't go very far when it comes to developing new models.
Lotustoronto
Emira Addict
Earnings call this morning points to Hethel remaining as an engineering / design / marketing / very low production situation. They are Euro 7 exempt until 2030. They also said an updated V6 model will enter in 2027 with facelift as well as plug in hybrid tech. I think Hethel will be expected to build around 1k sports cars per year going forward and expect in 2027 for the price to jump significantly. Finally the Emira Cup with 430BHP and a lot of carbon coming?
No news on US factory, but it seems Lotus is betting heavily on the new hybrid technology for Eletre in China / EU market. If they get some good reactions / sales volumes increase Lotus will Soldier on. If not - I imagine it will fold. Next 24 months will be the deciding factor.
For North America, don't expect anything more from Lotus except Emira variants for a while. China is now the largest market share of Lotus sales followed by EU/UK.
No news on US factory, but it seems Lotus is betting heavily on the new hybrid technology for Eletre in China / EU market. If they get some good reactions / sales volumes increase Lotus will Soldier on. If not - I imagine it will fold. Next 24 months will be the deciding factor.
For North America, don't expect anything more from Lotus except Emira variants for a while. China is now the largest market share of Lotus sales followed by EU/UK.
Lotustoronto
Emira Addict
I agree, if they can make Hethel more premium - Similar to Gordon Murray, it would be a massive win. The question is can they do it? The model after Emira (if there is one) will be the big test. I do think Emira is going to continue, but going even more up market. For the current owners, it's going to look like a bargain at the F/E prices.
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