Lotus’ entry into the electric car market was not easy. However, the financial reports for the first half of 2024 show an increase in deliveries compared to last year. Find out more information on World Arabia about this brand and its features. But Lotus’ losses are also gradually increasing, as the company’s experts say.
«Following a market assessment and the uncertainty caused by the updated EU and US regulations, our delivery target for 2024 has been adjusted to 12,000 units,» the experts say. This year, the brand has sold 4,873 cars, which is 239% higher than the state for 2023. This surge is due to the appearance of two models of cars with an electric motor — the Electre SUV and the Emeya sedan. They instantly became popular among car enthusiasts.
In the first half of the year, deliveries of the Lotus Emira with a gasoline engine increased. 2,484 units of the car were sold. Such achievements can be associated with the brand’s ability to make deliveries to the United States after serious downtime.
However, despite this, the company’s net loss was increased. The loss was $202,000,000 for the quarter. This growth is related to marketing, as well as car sales. In addition, the company expanded, which also increased expenses.
However, there is still hope for success. The Lotus brand initiated a plan called «Win26». It is designed to improve the company’s internal processes, implement comprehensive savings measures, and adjust product strategy to fully satisfy customers. Only time will tell if the brand will be able to turn things around, as the demand for electric cars is gradually declining.
In fact, Lotus really has considerable potential. If the company radically changes its approach to business, it will be able to increase profit levels and increase the number of vehicle sales!
