While it was recently revealed that Lotus reported a £145 million loss in 2022, the company said that they were prepared for a record 2023, and it turns out they weren’t lying. Lotus has confirmed the first half of 2023 has been a record-breaker for sales, with approximately 17,000 orders placed for the Eletre SUV and Emira sports car.
The Emira was only launched in 2022 and since then, 2,200 examples have been built in the UK, an increase of 381 per cent. While the Eletre started deliveries in China at the end of March 2023. Additionally, Lotus expanded its retail presence in 2023, opening 24 new locations worldwide including in South Korea (a key market for luxury vehicles), for a total of 193 stores. This combined is why orders are full for the next two years.
This is good news for a company that only shifted 567 cars in 2022. Though the 200 job losses (that Lotus promises aren’t due to their financial situation) are still set to occur.
“We set an ambitious goal in 2018, with the launch of our Vision80 strategy to transform the business from a traditional automotive brand to become an all-electric, luxury, mobility provider in ten years,” says Feng Qingfeng, CEO of Lotus Group. “We have spent the last few years laying the foundations for success and today’s announcement demonstrates that Lotus is no longer the same business that it has been in previous years.
“We are firmly on track to becoming a global performance brand by 2028.”