Lotus Chief Vows a Profitable Future

Lotus Group CEO Jean-Marc Gales tells Automotive News Europe he is confident that cost-cutting, a more rigorous management system and new models will deliver future profits for the iconic British brand.

Gales says Lotus will continue to feature its lightweight, bonded-aluminum "tub" chassis in all models. The company current offers three sports cars: the Elise, Exige and Evora.

New models are due between now and the end of 2017, according to Gales. But none will be based on the five concepts unveiled four years ago by Lotus CEO Dany Bahar, who was fired in 2012.

Gales says the concepts didn't align with the product development philosophy of company founder Colin Chapman to "simplify, then add lightness." Gales points out that Chapman's philosophy could be applied to any vehicle type.

Since he took over as CEO at Lotus earlier this year, Gales has imposed a new program management process that puts a premium on delivering projects on time, to spec and at or under budget.

ANE notes that Lotus sales are up 46% since its fiscal year began in April. The company sold fewer than 1,400 cars worldwide in 2013.