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Brexit - Good or bad for Lotus?


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So, we finally have a decision and it´s a leave. 

Now that we know, I am interested in if you think this will be good or bad for Lotus as a company?

I think it will be good if you look at the totality as a lower currency vs important export non-EU markets such as the US, is making the cars even more attractive there now. The same goes for e.g. for Sweden where I live with the Euro up and the GBP down vs. the SEK as we speak. Also, manufacturing is in the UK with UK based salaries for Lotus. Although many important components of the car (such as the engine) now got affected in the opposite direction as they are imported, the manpower part should still play a bigger role in the costs overall.

Jalopnik has an article about the car industry in the UK overall, and it seems most manufacturers think this is negative (the article doesn´t really say that much), but all of the companies covered are large manufacturers except Aston Martin, for which the UK is not their home market, so it´s obviously different from Lotus´ situation. 

http://jalopnik.com/what-england-leaving-the-eu-would-mean-for-the-auto-ind-1782525900 

Edited by kokostrollet
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It does mean that the money that Lotus send to their owners in Malaysia will be worth less which is a bad thing although the investment from Malaysia into Lotus will cost less for the same number of pounds Sterling.

I guess that the price of the cars will have to increase in the UK to pay for the imported parts such as the drivetrain.

S4 Elan, Elan +2S, Federal-spec, World Championship Edition S2 Esprit #42, S1 Elise, Excel SE

 

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Moved to the 'Lotus Chat' section...

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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  • Gold FFM

The only good thing I can think of is that if Lotus are selling to the USA, their cars either just became cheaper, or Lotus will get a lot more £ for every $.

James Martin (JayEmm)
Director of Photography & Car Enthusiast

Follow my Lotus adventure online! www.jayemm.com

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I would have thought it would be anything going out of Britain i good for them. Anything coming into Britain would not be so good.

What parts for Lotus cars get manufactured in Britain? (That is an honest question as I don't know)

All we know is that when they stop making this, we will be properly, properly sad.Jeremy Clarkson on the Esprit.

Opinions are like armpits. Everyone has them, some just stink more than others.

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  • Gold FFM

Not sure whether EU or not Barry but the import duty for car parts into the Uk is 4.5% with 20% VAT to be applied.

  • Like 1

I came into this world screaming and covered in someone elses blood. I'll probably leave it in the same way. 

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Found this article posted on the 22nd of June interviewing Jean-Marc Gales on the Lotus turnaround:

http://www.edp24.co.uk/business/remarkable_turnaround_sees_car_maker_lotus_profitable_for_the_first_time_in_its_history_1_4586996

I have e-mailed the journalist suggesting a follow-up piece to that, given the new situation with brexit. 

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Related article from the beep: http://www.bbc.com/news/business-36628918

Even though there might be expectations regarding future sales in USA as well as in far east I would consider EU still being an important market.

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