Lotus, the historic British marque reversed from a £2m after-tax profit to a £14.6m loss in the year to March, according to the car manufacturer's latest accounts. This was driven by increased costs as its owner, the Malaysian car company Proton, invested in it through the recession.
The company took on 185 staff to prepare for last July's launch of the Evora, its first new model in 14 years. And in an effort to boost turnover, new variants of existing models were introduced and the dealer network expanded to cover more emerging markets including Saudi Arabia, Indonesia and Taiwan.
But the downturn has taken its toll as Lotus produced only 2,202 cars during the year compared with 2,649 in 2008. Revenue from sales and services fell 5.9 per cent to £73.7m but this was offset by growth in Lotus's high-tech engineering consultancy division which left revenues for the year up 1.9 per cent to £110.9m. However, the increased investment battered the company's profit margin as costs rose 16.6 per cent to £124.2m.
Parent company loans from Proton increased nearly six-fold and bank loans rose by a factor of 10 to bring total borrowing to £72m. Shareholders' funds slid from £17m to a deficit of £4.5m, but the accounts state that another Proton subsidiary will support Lotus as necessary for another 12 months. With deliveries of the Evora beginning last June, the road ahead should be smoother.
The Evora, the world's first mid- engine, four-seater supercar, was launched to great acclaim at last year's British International Motorshow. It will debut in the US early next year with an automatic variant, following in 2011.
North and South America are Lotus's largest markets bringing in £36.2m, while growing sales in Asia and Africa demonstrate its success at attracting emerging markets. In contrast, the UK is not only Lotus's second-smallest market but it is the only one which declined during the year shrinking by 5.6 per cent to provide £24.5m of the company's turnover.
Wednesday, October 21, 2009
Tuesday, October 13, 2009
Proton Car Sales In UK Exceed Full Year Target
Proton car sales in the United Kingdom (UK) has surpassed the company's full year target by 10 per cent despite a weaker demand for new cars in the country due to global economic slowdown.
Proton Cars (UK) Ltd managing director Brian Collier said the company's target had been to sell about 1,000 units this year.
The larger base of repeat customers and efforts to keep costs down helped the company to surpass its full year target, he said.
"We are actually 10 per cent ahead of our target, which is extremely nice given the difficult market condition here," he told Malaysian journalists here Wednesday.
He said car sales in the UK market was expected to drop to 1.7 million this year from 2.4 million two years ago.
Currently, Proton sells four models namely Gen.2, Persona, Satria and Savvy in the UK market. Its best selling model is the Savvy that makes up about 40 per cent of total sales.
Proton has sold about 150,000 cars in the UK since entering the market in 1989.
Collier said Proton Cars also sells cars that use liquefied petroleum gas (LPG) in the UK market as demand for LPG vehicles was on the increase following the hike in petrol prices and environmental concerns.
"The only cars that we have converted to LPG are Persona and Gen.2," he said.
Last year, Proton Cars sold 150 LPG cars and its targets is to sell 200 units this year.
Proton Cars (UK) Ltd managing director Brian Collier said the company's target had been to sell about 1,000 units this year.
The larger base of repeat customers and efforts to keep costs down helped the company to surpass its full year target, he said.
"We are actually 10 per cent ahead of our target, which is extremely nice given the difficult market condition here," he told Malaysian journalists here Wednesday.
He said car sales in the UK market was expected to drop to 1.7 million this year from 2.4 million two years ago.
Currently, Proton sells four models namely Gen.2, Persona, Satria and Savvy in the UK market. Its best selling model is the Savvy that makes up about 40 per cent of total sales.
Proton has sold about 150,000 cars in the UK since entering the market in 1989.
Collier said Proton Cars also sells cars that use liquefied petroleum gas (LPG) in the UK market as demand for LPG vehicles was on the increase following the hike in petrol prices and environmental concerns.
"The only cars that we have converted to LPG are Persona and Gen.2," he said.
Last year, Proton Cars sold 150 LPG cars and its targets is to sell 200 units this year.
Sunday, October 11, 2009
TRANSFER CASE STUDIES: DIAGNOSING GM's 4WD SYSTEM
Access to DTCs can simplify any system diagnosis. But as two separate cases on GM's 4WD system reveal, these codes are not always 100% accurate.
GM has used many different four-wheeldrive control systems in its vehicles over the years, ranging from pure mechanical to electronically controlled. Each has its own diagnostic procedures, and the best source for understanding how these systems work will always be your information system.
Some later model 4WD systems have scan tool capabilities along with diagnostic trouble codes (DTCs) to help locate and diagnose many of the problems associated with them.
We looked at twu GM K 1500 trucks that have the NVG 246 two-speed transfer case. One is a 1999 model, the other a 2000. Both use the same controls and happen to have stored the same DTC. The basic system consists of a transfer case motor and encoder, Front differential actuator, trans for case module, speed sensors, switches and park input and output to the PCM. It seems logical to use case studies to show how these systems can he repaired.
The transfer case module data can be accessed with a scan tool such as the Tech 2, which is GM's official scan tool. To get to the proper screens, you must choose the Powertrain selection, then navigate your way to the ATC selections. ATC is the GM acronym for acMoe transfer case. As with any module/computer-based diagnostic strategy, it's always a good idea to make checking DTCs one of the first steps in your diagnosis. These two trucks have 19 possible DTCs, including those for input, motor, encoder and even VIN codes.
Selecting "F1" on the menu got us where we needed to be. Both trucks had one DTC stored: B2725 (active transfer case mode switch malf'unction). A Tech 2 information screen will also let you know whether certain 4WD systems do not allow scan tool access.
I could hear the encoder motor at the transfer case working, which confirmed my scan data and helped me find a diagnostic direction. Since it seemed like the problem was in the front axle area, I decided to check the front axle motor actuator next. Using a voltmeter, I determined O voltage was present on terminal C, (circuit 241, brown wire). I chose this wire based on the wiring diagram, which showed fuse 24 in the IP fuse box feeding voltage to the front axle motor. Going this far without first checking the fuse could turn out to be pretty embarrassing if the problem was simply a blown fuse. However, I knew the fuse also powered the transfer case control module. Since I was getting scan data and encoder motor operation, the fuse had to be good.
The only culprit left was the wiring harness between the fuse and front axle motor. It's always best to start checking for wiring problems by inspecting the harness in areas where it's most likely to be damaged by moving engine components, rotating parts or road objects striking the underside of the vehicle. I located the problem within minutes. The wiring harness near the right front axle where it enters the differential housing was damaged. At least two wires were broken, including the brown wire, which can be seen in the photo lower left. A harness repair was in order.
I had found the problem, but still could not explain why the system had stored code B2527. Was there another, intermittent problem just waiting for me to turn my back? I decided to look closer at the description for B2527 and found something interesting, "...the transfer case shift control module will set this DTC if a button is held down or sticks for a period longer than 5 minutes."
It seemed very possible that a driver might hold down a 4WD button for five minutes if he got stuck and the 4WD system wasn't working. To test my theory, I held the button down for several minutes to create the 4WD warning light visible in the photo on page 33. The system also set a code B2527. Maybe, just maybe, the DTC was actually set by the driver due to the broken wire to the front axle. I may never know for sure.
It's easy to fall into the habit of replacing common problematic components without verifying that they actually are defective. As this second case study of GM's relatively simple truck 4WD control system proves, this approach can get you into trouble. It always pays to test and verify before replacing a component.
GM has used many different four-wheeldrive control systems in its vehicles over the years, ranging from pure mechanical to electronically controlled. Each has its own diagnostic procedures, and the best source for understanding how these systems work will always be your information system.
Some later model 4WD systems have scan tool capabilities along with diagnostic trouble codes (DTCs) to help locate and diagnose many of the problems associated with them.
We looked at twu GM K 1500 trucks that have the NVG 246 two-speed transfer case. One is a 1999 model, the other a 2000. Both use the same controls and happen to have stored the same DTC. The basic system consists of a transfer case motor and encoder, Front differential actuator, trans for case module, speed sensors, switches and park input and output to the PCM. It seems logical to use case studies to show how these systems can he repaired.
The transfer case module data can be accessed with a scan tool such as the Tech 2, which is GM's official scan tool. To get to the proper screens, you must choose the Powertrain selection, then navigate your way to the ATC selections. ATC is the GM acronym for acMoe transfer case. As with any module/computer-based diagnostic strategy, it's always a good idea to make checking DTCs one of the first steps in your diagnosis. These two trucks have 19 possible DTCs, including those for input, motor, encoder and even VIN codes.
Selecting "F1" on the menu got us where we needed to be. Both trucks had one DTC stored: B2725 (active transfer case mode switch malf'unction). A Tech 2 information screen will also let you know whether certain 4WD systems do not allow scan tool access.
I could hear the encoder motor at the transfer case working, which confirmed my scan data and helped me find a diagnostic direction. Since it seemed like the problem was in the front axle area, I decided to check the front axle motor actuator next. Using a voltmeter, I determined O voltage was present on terminal C, (circuit 241, brown wire). I chose this wire based on the wiring diagram, which showed fuse 24 in the IP fuse box feeding voltage to the front axle motor. Going this far without first checking the fuse could turn out to be pretty embarrassing if the problem was simply a blown fuse. However, I knew the fuse also powered the transfer case control module. Since I was getting scan data and encoder motor operation, the fuse had to be good.
The only culprit left was the wiring harness between the fuse and front axle motor. It's always best to start checking for wiring problems by inspecting the harness in areas where it's most likely to be damaged by moving engine components, rotating parts or road objects striking the underside of the vehicle. I located the problem within minutes. The wiring harness near the right front axle where it enters the differential housing was damaged. At least two wires were broken, including the brown wire, which can be seen in the photo lower left. A harness repair was in order.
I had found the problem, but still could not explain why the system had stored code B2527. Was there another, intermittent problem just waiting for me to turn my back? I decided to look closer at the description for B2527 and found something interesting, "...the transfer case shift control module will set this DTC if a button is held down or sticks for a period longer than 5 minutes."
It seemed very possible that a driver might hold down a 4WD button for five minutes if he got stuck and the 4WD system wasn't working. To test my theory, I held the button down for several minutes to create the 4WD warning light visible in the photo on page 33. The system also set a code B2527. Maybe, just maybe, the DTC was actually set by the driver due to the broken wire to the front axle. I may never know for sure.
It's easy to fall into the habit of replacing common problematic components without verifying that they actually are defective. As this second case study of GM's relatively simple truck 4WD control system proves, this approach can get you into trouble. It always pays to test and verify before replacing a component.
Tuesday, October 6, 2009
Proton Persona Prices
The much talked about proton family, Proton Persona finally launched today at Proton Head Office, Shah Alam. With a booking more than 2,500 unit, this model for me will give a big success to Proton. With a nice design, coupled with many extras such as Air Bag, ABS, spacious room and good price, more booking are expected in future. No wonders, PROTON targeting at least 4,000 unit booking a month.
The price (from motortrader)
CONFIRMED PRICES
(Price w/o insurance + insurance premium = OTR price)
Persona 1.6 Auto H-Line: RM54,186.50 + RM1,613.50 = RM55,800.00
Persona 1.6 Manual M-Line: RM48,342.50 + RM1,457.50 = RM49,800.00
Persona 1.6 Auto M-Line: RM51,264.50 + RM1,535.50 = RM52,800.00
Persona 1.6 Manual Base-Line: RM43,671.50 + RM1,327.50 = RM44,999.00*
Persona 1.6 Auto Base Line: RM46,593.50 + RM1,405.50 = RM47,999.00*
Persona 1.6 Manual Base-Line: RM44,095.50 + RM1,353.50 = RM45,449.00
Persona 1.6 Auto Base-Line: RM47,017.50 + RM1,431.50 = RM48,449.00
Looking at the price, I am sure Persona will give its competitor (vios, city) a run for their money. And this model will also be the WAJA, Gen 2 killer … :)
I heard also tonite NAZA will introduce their new model. Wait for it
Monday, October 5, 2009
LPG model set to drive Proton UK sales
It’s tapping rising demand for dual-fuel cars in Britain
NORFOLK (England): Proton Cars UK Ltd (Proton UK) is banking on its liquefied petroleum gas (LPG)-powered cars to help drive sales in Britain, according to its managing director Brian Collier.
He spoke of an emerging niche market for the Proton Gen-2 1.6 litre ecoLogic which runs on either LPG or petrol in the wake of rising fuel prices.
Collier said there had been an increasing demand for the dual-fuel model which costs the same as the petrol version but requires half the price to run and is kinder to the environment.
Proton Cars UK MD Brian Collier showing the LPG conversion fitting neatly into the original design after briefing for Malaysian journalists at the Park Farm Country Hotel & Leisure at Hethersett, Norwich.
“Next year is going to be all about LPG cars and repeat customers,” he told Malaysian journalists at a briefing at the Park Farm Country Hotel & Leisure in Hethersett, Norwich, on Wednesday.
The briefing was organised by Proton Holdings Bhd in conjunction with the royal visit to the Lotus plant headquarters by the Yang di-Pertuan Agong Tuanku Mizan Zainal Abidin and Raja Permaisuri Agong Tuanku Nur Zahirah today.
A subsidiary of Proton Holdings which acquired Lotus in 1996, Proton UK has sold about 150,000 vehicles in Britain since 1989.
Last year, about 1,500 units were sold through the company’s 80 dealers across Britain but Proton UK has revised its target to 1,000 this year due to the global economic slowdown.
Collier said they sold 150 LPG vehicles last year and expected to hit 200 this year, adding that the Humberside police force has a fleet of 100 such units.
He said these vehicles were sought after by corporate clients including companies with small fleets and taxi operators that now accounted for about half their total sales.
“Britons are very cost-conscious, especially during the economic downturn,” he said, citing petrol price of around £1.10 a litre against 50 to 55 pence for a litre of LPG.
Proton UK, he added, was the only manufacturer in Britain which did not charge extra for the LPG conversion, which usually costs about £2,000.
Collier also singled out the Savvy as Britain’s best-selling Proton car among its models including the Satria, Gen-2 ecoLogic and Gen-2 Persona.
He said Britons loved small economic cars such as the Savvy for fuel economy and its low emission which the annual car tax was based upon.
The Savvy naturally fits into this A and B segments which dominate the British market, he said, adding about 400 Savvy were sold this year alone.
Savvy is priced just under £8,000 but with a £2,000 discount under Britain’s car scrappage scheme, it costs just below £6,000, according to Collier. In fact, some brand new cars are selling for £5,000 or less, an indication of the tough market, with car manufacturers across Europe badly hit, he said.
British vehicle sales had plunged from 2.4 million units two years ago to about 1.7 million this year while Spain was down by nearly 40%.
Collier sees a difficult year ahead, especially with the proposed value-added tax increase and Britain’s plan to double the road tax for new cars next year.
“We need to look at different ways to sell cars, particularly in Britain where almost 50 manufacturers in totally open market conditions are struggling for a market share,” he said.
Proton Car Sales In UK Exceed Full Year Target
Proton car sales in the United Kingdom (UK) has surpassed the company's full year target by 10 per cent despite a weaker demand for new cars in the country due to global economic slowdown.
Proton Cars (UK) Ltd managing director Brian Collier said the company's target had been to sell about 1,000 units this year.
The larger base of repeat customers and efforts to keep costs down helped the company to surpass its full year target, he said.
"We are actually 10 per cent ahead of our target, which is extremely nice given the difficult market condition here," he told Malaysian journalists here Wednesday.
He said car sales in the UK market was expected to drop to 1.7 million this year from 2.4 million two years ago.
Currently, Proton sells four models namely Gen.2, Persona, Satria and Savvy in the UK market. Its best selling model is the Savvy that makes up about 40 per cent of total sales.
Proton has sold about 150,000 cars in the UK since entering the market in 1989.
Collier said Proton Cars also sells cars that use liquefied petroleum gas (LPG) in the UK market as demand for LPG vehicles was on the increase following the hike in petrol prices and environmental concerns.
"The only cars that we have converted to LPG are Persona and Gen.2," he said.
Last year, Proton Cars sold 150 LPG cars and its targets is to sell 200 units this year.
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