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Lotus will terminate the contracts of all its European dealerships in July 2012 as part of plans to completely overhaul its dealership network.

Lotus CEO Dany Bahar has written to the Norfolk firm’s entire European dealership network informing them that their contracts will not be renewed and will expire on 18 July 2012.

Full story: Lotus reveals radical new direction

The sports car firm is acting within the current terms of its dealerships’ contracts, which outlines that two-year’s notice must be given for termination.

Plans for a radical overhaul of the European dealer network will be revealed in the period after the Paris motor show, the location where Lotus’s new five-year blueprint will be announced, outlining its future building a new range of more luxurious GTs and sports cars.

Lotus has confirmed the current dealer network would be able to apply for new dealerships or franchises under new terms, but it has yet to reveal precise details on what those terms will be.

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