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. 

Subscribe to evo magazine

Subscribe today to have every issue of evo delivered straight to you. You'll SAVE 39% on the shop price, and get evo for its original cover price for a whole year!

> 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

Visit/lotus/22552/lotus-evija-hypercar-delayed-until-mid-2021
Lotus

Lotus Evija hypercar delayed until mid-2021

25 Aug 2020
Visit/lotus/202884/lotus-launches-track-oriented-digital-dashboard-for-elise-and-exige
Lotus

Lotus launches track-oriented digital dashboard for Elise and Exige

14 Jul 2020
Visit/lotus/202124/lotuss-badge-engineered-specials-from-cortina-to-carlton-and-vx220
Lotus

Lotus's badge-engineered specials: from Cortina to Carlton and VX220

19 Jan 2020

Most Popular

Visit/mclaren/203105/five-mclaren-senna-gtr-lms-in-le-mans-liveries-revealed
McLaren Senna

Five McLaren Senna GTR LMs in Le Mans liveries revealed

Celebrating 25 years since McLaren’s domination of the 1995 Le Mans 24hr with the F1 GTR
18 Sep 2020
Visit/bmw/1-series/203095/bmw-128ti-revealed-as-direct-hot-hatch-rival-to-vw-golf-gti
BMW 1 Series

BMW 128ti revealed as direct hot hatch rival to VW Golf GTI

BMW has revealed a simplified front-wheel drive hot 1-series called 128ti that will sit below the M135i performance flagship
16 Sep 2020
Visit/nissan/370z/201879/nissan-z-proto-revealed-v6-twin-turbo-six-speed-manual-and-a-catch
Nissan 370Z

Nissan Z Proto revealed – V6 twin-turbo, six-speed manual, and a catch

It’s the Nissan sports car we’ve been waiting 11 years for, but don’t hold your breath for it in the UK
16 Sep 2020
Visit/best-cars/203098/the-worlds-10-best-gt-cars-6-4
Best cars

The world's 10 best GT cars - 6-4

These cars have the ability to make long-distance journeys relaxing while still being able to thrill on a twisting road
16 Sep 2020