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.

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...

Recommended

Lotus Advanced Performance teases modern day Can-Am racer
Lotus Can-Am
Lotus

Lotus Advanced Performance teases modern day Can-Am racer

It’ll be the first project for the new Lotus “special operations” division, which will build bespoke motorsport-ready performance vehicles
9 Feb 2022
New electric Lotus sports car set for 2026 launch
Lotus sports car teaser
Lotus

New electric Lotus sports car set for 2026 launch

A new tie-up with battery manufacturer Britishvolt will power the next generation of Lotus electric sports cars
28 Jan 2022
New Lotus Tech Creative Centre design studio to open in Warwickshire
Lotus design team
Lotus

New Lotus Tech Creative Centre design studio to open in Warwickshire

New Lotus Type 132 and 134 SUVs and Type 133 four-door will be designed at new UK studio
12 Jan 2022
New Lotus Type 132 SUV teased ahead of 2022 launch
Lotus Type 132
Lotus

New Lotus Type 132 SUV teased ahead of 2022 launch

The Lotus Type 132 will be the first ever SUV from the Norfolk firm – the fastest version of which will have a 0-62mph time of around three seconds
8 Nov 2021

Most Popular

15 Tesla Supercharger sites open to non-Tesla vehicles in the UK
Tesla Supercharger
Tesla

15 Tesla Supercharger sites open to non-Tesla vehicles in the UK

Pilot scheme to open up Tesla-only charging network to all electric cars lands at selected UK locations
18 May 2022
New all-electric Alfa Romeo Duetto Spider shapes up
Alfa Romeo Duetto Spider - watermarked front
Alfa Romeo

New all-electric Alfa Romeo Duetto Spider shapes up

Alfa Romeo bosses have confirmed that a new two-seat electric roadster is in the company’s rejuvenation plans and our exclusive images preview how it …
19 May 2022
Shell and ABB team up to deliver world’s fastest electric car charger
Shell charger
News

Shell and ABB team up to deliver world’s fastest electric car charger

New Shell and ABB-developed Terra 360 EV charger can add 62 miles of range in less than three minutes
16 May 2022