Skip advert
Advertisement

Lotus reports first operating profit in around 40 years

Lotus' financial reports are in the black, partly thanks to the sales success of the Evora 400 in the United States

Lotus Evora 400 front

Lotus, the car company, will produce an operating profit for the first time this year since the 1970s, according to its flamboyant CEO from Luxembourg, Jean-Marc Gales.

Talking to Auto Express, Gales said: "Not since the Chapman era has the car side of Lotus turned an operating profit.” And he puts such success chiefly down to the unprecedented success of the Evora 400 in the USA.

Advertisement - Article continues below

The 400 was launched officially by Lotus in the US in August this year, and is now sold out there until late March next year. Basically, they can't build them fast enough at Hethel to satisfy demand in the US, which remains world’s biggest sports car market.

Best sports cars

But there are other key reasons why the car making side of Group Lotus is at last making an operating profit, having spent decades in the financial wilderness.

When Gales joined the company in May 2014, there were 1200 employees making less than 1200 cars a year at the Hethel-based factory.

“Today” says Gales, “we have approximately 800 employees producing over 2000 cars a year, all of which are of a much higher quality than before. And we are also now selling top quality cars in the United States, where they seem to understand and connect with our cars nowadays.”

Lotus Evora 410 review

Gales, 55, joined Group Lotus as CEO just over two years ago having been the boss at both Peugeot and Citroen previously, with significant stints at Daimler, VW and GM on the way up.

In the future, he says, there is the possibility of a Chinese-built Lotus SUV to further boost the company’s profits, and broaden its appeal. But that’s still a good few years away yet.

In the more immediate future expect a roadster version of the Evora, yet fruitier versions of the Exige, Evora and Elise plus maybe a factory return to serious GT racing as well.

What do you think of the news? Leave us a comment below...

Skip advert
Advertisement

Find a car with the experts

Skip advert
Advertisement

Recommended

Lotus UK factory future: Hethel plant put 'under review' by Chinese owner
Lotus Hethel factory

Lotus UK factory future: Hethel plant put 'under review' by Chinese owner

Geely weighing up a host of options as it tries to stem huge losses at troubled British sports car firm – including possible closure of Norfolk base
News
4 Jul 2025
Big plans for the Lotus Emira with hybrid tech on the cards
Lotus Emira Turbo SE Racing Line in Cosmos black - front static

Big plans for the Lotus Emira with hybrid tech on the cards

Lotus is plotting a raft of developments for its mid-engined Emira sports car – with combined petrol/electric power a future option
News
27 Jun 2025
The Lotus electric car rebirth is struggling, but will new hyper-hybrids save the day?
Auto Express editor-at-large Phil McNamara standing next to a Lotus Emeyal

The Lotus electric car rebirth is struggling, but will new hyper-hybrids save the day?

Despite huge Chinese investment to electrify Lotus, sports car sales still prop up the loss-making business. Can Lotus achieve take-off?
Features
27 Jun 2025
Best new cars coming soon: all the big new car launches due in 2025, 2026 and beyond
New cars coming soon header image

Best new cars coming soon: all the big new car launches due in 2025, 2026 and beyond

These are the most important new cars headed our way, from brands including Audi, BMW, Dacia, Ferrari, Ford, Skoda and more
Best cars & vans
23 Jun 2025

Most Popular

Ford Escort Mexico gets new lease of life with MST Sports
MST Ford Escort - front 3/4

Ford Escort Mexico gets new lease of life with MST Sports

While not officially Fords, the MST Mk1 and Mk2 Sports should drive as sharply as they look
News
7 Jul 2025
New MG IM5 has the Tesla Model 3 beaten on price and range
MG IM5 - Goodwood front

New MG IM5 has the Tesla Model 3 beaten on price and range

The all-electric IM5 brings new technology and design to the MG line-up
News
10 Jul 2025
Car Deal of the Day: Skoda Octavia vRS is the consummate all-rounder and only £255 a month!
Skoda Octavia vRS - front cornering

Car Deal of the Day: Skoda Octavia vRS is the consummate all-rounder and only £255 a month!

A three-time Auto Express Family Car of the Year winner, paired with Golf GTI power, is our Deal of the Day for 6 July
News
6 Jul 2025