Report: Lotus terminating entire European dealer network

Lotus plans to reinvent itself, and in addition to a range of new products, a dealership makeover is in the cards. PistonHeads reports that Lotus CEO Dany Bahar sent out a letter to the company's European dealers informing them that their contracts will be terminated as of July, 2012. Why the long notice? The company's current contract with its dealers stipulates that Lotus must give two years notice prior to contract termination. The move will likely result in many dealers losing their ability to sell Lotus' wares, but current dealers will reportedly be given the opportunity to re-apply for a new contract.

Back in June Lotus announced to the world that it was entering the "Dawn of a New Era." Lotus has reportedly been spending its time and money picking up ex-Ferrari, Porsche and Aston Martin employees in an effort to build up its brand as a high-performance luxury make.

[Source: PistonHeads]