Lotus announces 2024 delivery numbers

Lotus delivered 12,065 vehicles in 2024, representing a year-on-year increase of over 70% and boasting the top growth rate among leading luxury brands. China contributed approximately 25% of the total global deliveries in 2024.

In 2025, the Company aims to increase global deliveries by 20% with a 25-28% contribution from China. Lotus also successfully reclaimed the proprietary rights of the LOTUS roundel, LOTUS word mark and the Chinese character of Lotus ("莲花") in China, achieving consistency in terms of its trademark across the world.


Well done to Lotus for hitting their revised target of 12,000 deliveries in a very tough market. On the other hand:

1. They did a lot of discounting to achieve those deliveries, especially in the UK.
2. The IPO forecast for 2024 deliveries was 47,000 vehicles, so 12,000 isn't really something to be celebrated.
3. The new 2025 target of around 14,500 vehicles is a massive reduction from their original IPO forecast. It's only about 20% of the 73,000 vehicles they told investors they intended to deliver in 2025.
4. The modest 2025 target makes it clear that TYP 134 will not be coming out until 2026.

3

 

[meenboli]

I was annoyed when I missed the FE1 window and had to pay 10K more for the same car (FE2) just due to timing of my deposit. I didn’t want the same thing to happen with the Type 135 so I called my dealer and asked when I could put a deposit down. He said that car is years away, but he’ll take my money if I want. I sent him a refundable $1000 deposit and he said congrats you’ve got the first one we get. There’s a lot of variables at this point - what will the power train be? Will I like the look of the car? Will they even make it? I figure I’m losing $90 of interest a year by parking $1000 with them, but I get to go to the front of the line and if it plays out like the Emira I could save thousands. I’m happy to hedge my bets.

Can't fault you - good shout.
Hope it comes off - because it looks superb!

 

[Yorkie]

All this makes me wonder if at some stage Geely might just pull the plug on Lotus entirely . There are plenty of examples of major manufacturers giving up on brands which aren't working for them. Think of Toyota with Scion, GM with Pontiac and Hummer, Mazda with Xedos, and VAG is soon going to be retiring Seat. I really hope Lotus can turn it around somehow because these sales figures are not going to impress anyone at Geely HQ.

Or might use the Lotus brand as an engineering or engine "improvement" on other brands? Been done before.

Or Lotus badge vehicles manufactured elsewhere in their network?

Aren't the 2024 sales figures massaged by the stock dealers were forced to buy at the end of 2024?

 

[Lewquatious]

I was annoyed when I missed the FE1 window and had to pay 10K more for the same car (FE2) just due to timing of my deposit. I didn’t want the same thing to happen with the Type 135 so I called my dealer and asked when I could put a deposit down. He said that car is years away, but he’ll take my money if I want. I sent him a refundable $1000 deposit and he said congrats you’ve got the first one we get. There’s a lot of variables at this point - what will the power train be? Will I like the look of the car? Will they even make it? I figure I’m losing $90 of interest a year by parking $1000 with them, but I get to go to the front of the line and if it plays out like the Emira I could save thousands. I’m happy to hedge my bets.

9% is a great return. Mind telling me where you are achieving that? I want in on that action!

Meanwhile, I assume the new owners wanted to pursue full electric production and probably not the Lotus folks in Hethel who, despite messing around with electrification for many years, hopefully weren't the actual force behind the new SUVs (if not the failed Evija experiment). If indeed it was Lotus who signed off on the fully electric future, shame on them. If only they'd put 30% of the energy and resources into improving their IC sports car, they might have been in taller cotton this year. The failure to move the platform forward and to create a development arc and plan for the Emira and its successors seems a disincentive to Lotus' core audience.

The Emira has been touted as the "last IC Lotus." Instead, it should have been the first of a new line of super sports cars that show Lotus can deliver pure driving pleasure, well considered, useful features, competitive performance coupled with outstanding feel and haptics and above all, excellent build and quality in an aspirational sports car. Yet there is no evidence to date that they gave any thought to expanding their reach within their core market and have instead shifted gears and now, must back track and rethink the whole product line. What a waste of resources by upper management that seems to have no clue as to where Lotus fits into the market and is even less thoughtful about how and where to invest resources for maximum return in consideration of the the ground up brand building necessary to pull it off.

I love Lotus IC cars and that includes the Emira, but it should be the beginning, not the end.