Lotus Technology 1H 2024 Financial Results

[hagen111]

And I would do a lightweight Emira with the 3 cilinder Yaris GR engine at 400hp.

Plus Emira Spider version

 

[Lotustoronto]

Man, the price can’t be higher than it already is! I think people were all in at 95k and thought it was a good deal. Then 105k came around and ppl started to scratch their head. Now if they end of being 115k or so I really don’t think they’ll sell. Especially given the screw ups and issues that early Emira owners are facing now.

They may do a small increase to base MSRP - but I imagine options will be pricier than expected. Chapman Bespoke builds could easily hit 150k IMO. - at this point Emira will be one of the very last manual transmission vehicles and the i4 will be one of the few mid engine sports cars under 100k. Basically only competes against Corvette at this point. ( yes, the i4 @ 400bhp might be able to take a base C8 on track)

EV’s can do well if they show good reliability and keep exclusivity. A Chinese EV in the US is a dead option, but ROW may be very viable. I don’t see Geely changing course from the lifestyle side, but I think Emira and future variants will be in production longer than originally planned. Which is only a good thing for all us owners.

 

[VL3X]

Some additional info:

https://www.motor1.com/news/731781/lotus-financial-results-first-half-2024/

 

[Rupes]

When has Lotus not been in financial trouble? Can’t imagine Geely is surprised by this performance.

 

[Foxy87]

I asked myself a question, what if Lotus doesnt make it this time? They have been in trouble for years but what if they cant turn it around this time? The big ass fat EV cars which have absolutely nothing in common with the Lotus brand dont sell at all according to the numbers.

I am really in the market for the emira but will wait till we know if and what future versions come out. So what if I buy an Emira in like a year and another year later Lotus dies. What does that exactly mean. I discussed this with another sportscar enthusiast and he didnt think the cars will be worthless but quiet the opposit, as its a well known brand and loved by enthusiasts.

What is everybodies thoughts on this?

 

[Rupes]

I asked myself a question, what if Lotus doesnt make it this time? They have been in trouble for years but what if they cant turn it around this time? The big ass fat EV cars which have absolutely nothing in common with the Lotus brand dont sell at all according to the numbers.

I am really in the market for the emira but will wait till we know if and what future versions come out. So what if I buy an Emira in like a year and another year later Lotus dies. What does that exactly mean. I discussed this with another sportscar enthusiast and he didnt think the cars will be worthless but quiet the opposit, as its a well known brand and loved by enthusiasts.

What is everybodies thoughts on this?

I think any answer you get is going to be pure speculation. But my belief is you buy this car (over a Porsche or similar) because of the emotional connection, not because it’s the practical or even logical choice.

There’s all kinds of very real situations with Lotus that could happen, including bankruptcy. This would have scared me in different phases of my life. Right now though, it really doesn’t matter because I can’t think of another car I’d rather be driving.

 

[Foxy87]

Sure I know it will be pure speculation. The purchase wouldnt be rational at all, I mean its a Lotus. But to be honest on the other side I also dont want to just burn 100k…

My dream car has always been a GT4 but after driving it back to back to an Emira, it left me disappointed.

 

[EspritGuy]

I asked myself a question, what if Lotus doesnt make it this time? They have been in trouble for years but what if they cant turn it around this time? The big ass fat EV cars which have absolutely nothing in common with the Lotus brand dont sell at all according to the numbers.

I am really in the market for the emira but will wait till we know if and what future versions come out. So what if I buy an Emira in like a year and another year later Lotus dies. What does that exactly mean. I discussed this with another sportscar enthusiast and he didnt think the cars will be worthless but quiet the opposit, as its a well known brand and loved by enthusiasts.

What is everybodies thoughts on this?

Have you seen the thread comments about the Emira not being exclusive enough?
It's already an exotic..

 

[Nick in Sydney]

I asked myself a question, what if Lotus doesnt make it this time? They have been in trouble for years but what if they cant turn it around this time? The big ass fat EV cars which have absolutely nothing in common with the Lotus brand dont sell at all according to the numbers.

It's improbable that Lotus Cars, the Hethel-based sportscar maker, will disappear. The Emira has sold far better than they dreamed and Geely has pumped hundreds of millions into building the brand, modernising the factory and the new design center in Coventry.

If Lotus Technology (which doesn't even technically own Lotus Cars yet) was going out of business because of their terrible EV strategy, they'd sell their option to acquire Lotus Cars to another party. There would be plenty of potential buyers.

 

[Six Speed Stephen]

Sure I know it will be pure speculation. The purchase wouldnt be rational at all, I mean its a Lotus. But to be honest on the other side I also dont want to just burn 100k…

My dream car has always been a GT4 but after driving it back to back to an Emira, it left me disappointed.

Why would the car become worth $0?

 

[Rupes]

Why would the car become worth $0?

Additionally, you only lose money on a car when you sell. So just keep it forever and you’ll never need to worry.

 

[Foxy87]

Why would the car become worth $0?

Yeah not 0 of course, luckily its no fisker ocean

 

[Speedy Emira]

I asked myself a question, what if Lotus doesnt make it this time? They have been in trouble for years but what if they cant turn it around this time? The big ass fat EV cars which have absolutely nothing in common with the Lotus brand dont sell at all according to the numbers.

I am really in the market for the emira but will wait till we know if and what future versions come out. So what if I buy an Emira in like a year and another year later Lotus dies. What does that exactly mean. I discussed this with another sportscar enthusiast and he didnt think the cars will be worthless but quiet the opposit, as its a well known brand and loved by enthusiasts.

What is everybodies thoughts on this?

As long as I get mine back from having the new panels fitted without issue I wouldn't even cry if they ceased trading. There are enough Lotus specialist out they that know this drivetrain inside out and can carry our electronic fault diagnostics. besides it's a Toyota engine and gearbox which is still easy to source or rebuild.

The worst that could happen is you need to source parts when they run out but being a Lotus they will be common parts to other cars. Secondly if they ceased building Emiras tomorrow the prices will go up. Personally owning a V6 I will be happy for them to stop selling them and stick with the i4 to make them more desirable.

 

[Alex001]

Another evidence is that the Chinese economy is struggling, sales have dropped from 67% to 24%, while the EU is doing good.

 

[crestima]

Another evidence is that the Chinese economy is struggling, sales have dropped from 67% to 24%, while the EU is doing good.

Yes, the EU economy is currently performing fairly well, but the UK economy while showing signs of recovery from their recession, is still not out of the danger zone. The challenges, however, extend beyond the current state and outlook of the individual economic block zones to the new trade/tarriff barriers being impose, which unfortunately are very detrimental for automakers' worldwide sales.

 

[boisecrawfords]

I think they need to focus on solely the piston market. Pure EVs are a path to bankruptcy, the EV market is nothing like big players thought, just look at Ford's lessons. The EV market is straight out of Crossing the Chasm...niche products trying to go mass market, then realizing the motivators for early adopters is polar opposite for mass market buyers.

 

[crestima]

I think they need to focus on solely the piston market. Pure EVs are a path to bankruptcy, the EV market is nothing like big players thought, just look at Ford's lessons. The EV market is straight out of Crossing the Chasm...niche products trying to go mass market, then realizing the motivators for early adopters is polar opposite for mass market buyers.

I agree and I also think that Lotus would alternatively be better off leaving the success of EV segment to be tested by the Major League automakers with the deep pockets to help them survive the volatility and long term success risks of that segment.
As some have already alluded to in this thread, apparently (maybe not so apparently), Geely has been using the Lotus brand to market and facilitate the exports of their EVs worldwide, and as long as they don't eventually plaster the blame for a potential (and maybe even probable) financial disaster on Lotus, then that's ok as they certainly have the deep pockets to weather the storm.

 

[seriously]

Go woke go broke.

 

[FlashingBlade]

I heard something a while back about Geeley slowly turning the taps off at Lotus and its future is undetermined. They dont feel the brand has the enough prestige to carry off the EV transition and that Geeley are looking at Aston Martin as a potential route for this.

IMHO Lotus went too big on the EV thing too soon. This was a manufacturer who had a very small current portfolio of ICE sports cars and had essentially been carried by the Elise/Elixge for decades. They hadnt really released a new model since 2008.

I'm not overly concerned about what happens if they disappeared. It would be a huge shame as they're a great brand for the enthusiast but given the Emira is essentially an Evora and built largely out of Volvo/Toyoto and aftermarket parts, the only concern would be body panels. Someone should get the moulds and get decent carbon alternatives. I'd just strip the car down and make it a slightly larger and more civilised Exige.

 

[Hethel Merman]

Lotus don't even make the body panels any more.