Lotus is finally back in the black thanks to sales of limited edition models

Lotus has turned a profit in the latest fiscal year – finally some good news for the iconic British brand

Lotus has had some tough years in the recent past, with an aging line-up and sales drying up of even its most iconic models it was not looking good for the Hethel-based company.

But upon the release of last fiscal year’s financial reports, Lotus has reported that it is back in the black, pointing to its recent barrage of limited editions as the reason why. 

> Click here for more on the new Lotus Exige Cup 380  

Returning £2m in profit in contrast to last year’s £16.3m in losses, Lotus' gains in the market have been galvanised by strong sales in the U.S and a 57% jump in sales in mainland Europe. Without any new models to rely on, these sales increases have been driven by Lotus’ various special edition cars based on the current Elise, Exige and Evora product lines.

Lotus Group CEO Jean-Marc Gales has said in response to the results: “This is a proud moment for Lotus and to have achieved so much is testament to the hard work of all our staff. Our vastly improved profitability, together with an increase in revenue means that for the first time in many years Lotus is now a self-sufficient and sustainable business."

Lotus’ current business plan is a far more conservative approach than the Dany Bahar era world domination plan that crippled the brand at the start of the decade. Instead of expanding the brand beyond its capabilities, Gales has instead steered the brand towards a more conservative approach, focusing on the brand's core values of handling excellence and lightweight engineering.

> Click here for more on Geely's involvement in Lotus

This good news also comes off the back of the announcement that Chinese company Geely purchased a controlling stake Lotus and its current owner Proton. Responsible for funding the uprising of Volvo, Geely might just be the right capital generating stakeholder to push along development of a new generation of Lotus cars. Lotus will continue tweaking its current offerings until early next decade when it should release an all-new Elise and Exige.

Recommended

Car pictures of the week
Lotus Carlton evo Icon – cornering 1
Lotus

Car pictures of the week

We go behind the lens on our latest evo Icon photoshoot in this week’s gallery
26 Nov 2021
Radford’s Lotus Type 62/2 John Player Special revealed with 600bhp
Radford Lotus Type 62/2 – interior
Lotus

Radford’s Lotus Type 62/2 John Player Special revealed with 600bhp

Lotus Type 62/2 by Radford unveiled in range-topping John Player Special form
11 Nov 2021
Lotus Type 132 SUV teased – first glimpse of key model to underpin Lotus’s financial security
Type 132
Lotus

Lotus Type 132 SUV teased – first glimpse of key model to underpin Lotus’s financial security

The new Lotus SUV has been given an initial Type 132 nomenclature leading up to a reveal next year
8 Nov 2021
Lotus reveals new insight into its electric sports car platform
Lotus EV future plans
Lotus

Lotus reveals new insight into its electric sports car platform

Innovative and flexible platform to underpin Lotus’s 2026 EV sports car
21 Sep 2021

Most Popular

Audi RS3 2021 review - Audi Sport set to take on AMG’s A45S
Audi RS3 review 2021
Audi RS3

Audi RS3 2021 review - Audi Sport set to take on AMG’s A45S

Audi’s new RS3 hyper hatch finally gets the technology to take on AMG’s range-topper
22 Nov 2021
Car pictures of the week
Lotus Carlton evo Icon – cornering 1
Lotus

Car pictures of the week

We go behind the lens on our latest evo Icon photoshoot in this week’s gallery
26 Nov 2021
Volkswagen Golf R review – has the hottest VW still got it?
evo Volkswagen Golf R PP – front cornering
Volkswagen Golf R

Volkswagen Golf R review – has the hottest VW still got it?

Undercooked and irritating in equal measure, the Mk8 Golf R’s execution is found wanting, and it’s a loss for the class
26 Nov 2021