Lotus - vehicle deliveries for first nine months of 2024

[Nick in Sydney]

Lotus delivered 7,543 vehicles in the first nine months of 2024. Yes, that's a big increase versus last year, but the quarterly deliveries aren't really "ramping up" in 2024. IMO, growth seems to have stalled. Lotus only delivered 2,670 vehicles in Q3, so I really can't see them achieving their (already lowered) target of 12,000 vehicles this year.

Global allocation in terms of deliveries remained well-distributed, with Europe, China, North America and the Rest of the World regions each contributing about 20-35% of the total deliveries. In the third quarter, Emeya deliveries commenced in Europe, while Eletre deliveries expanded to the Middle East, Japan and Korea.

Deliveries of Eletre Carbon are not expected to commence until the first half of 2025.

https://ir.group-lotus.com/news-releases/news-release-details/lotus-technology-announces-delivery-updates-first-nine-months

 

[seriously]

Hoping the emeya and eletre do well outside of the US to keep lotus afloat. Btw, what bizarre names…

 

[RoryBellows]

Well the fact that pricing for base models is still hidden to the general public and those of us that know, know its gone up again is generally a recipe for slow orders.

 

[Lotustoronto]

Well the fact that pricing for base models is still hidden to the general public and those of us that know, know its gone up again is generally a recipe for slow orders.

Agree - I have no idea why Lotus feels the need to hide pricing information at this point, while still asking for orders from their dealers for base V6 units. Having pricing visible would at the very least cause more interest. It is a very odd way to run a business, but I am sure they have their reasons, I just can't think of any good ones.

I don't know how their dealerships operate in other parts of the world, but in North America it leaves a lot to be desired and the service is not at the level to be asking 100K -250K (Eletre Carbon?). I will be shocked if they can grow US dealers with the current product range and build quality issues.

 

[Six Speed Stephen]

Well the fact that pricing for base models is still hidden to the general public and those of us that know, know its gone up again is generally a recipe for slow orders.

The V6 with all the options as my first edition is only $2k more

 

[RoryBellows]

The V6 with all the options as my first edition is only $2k more

It depends on options. If for example you were unlucky enough to spec a FE with vivid red, manual, silver wheels, black calipers, and black leather interior you actually overpaid what that would cost now (base plus options to bring to FE spec) by like 3k . Contrasting if you are new in the market and looking to fully kit out an automatic with magma paint and alcantara interior you are paying about 10k more. My base in nimbus over colored leather with most options checked is coming in around 2k over FE2.0 pricing.

 

[Jinba ittai]

In Canada the base v6 is 5k more than the first edition. 15-20k with options. I think our FE was actually priced too cheap - less than the US FE plus exchange. Seems they’ve fixed that.

 

[Nick in Sydney]

The real problem is that the Chinese EV tariffs have destroyed Lotus' business case in the US.

At the tariff pricepoint they're going to sell f-all Eletres and Emeyas in America. That means the entire US franchise system has to be supported by ~1,500 Emira sales per year. Good luck with that.

 

[dgrace]

The real problem is that the Chinese EV tariffs have destroyed Lotus' business case in the US.

At the tariff pricepoint they're going to sell f-all Eletres and Emeyas in America. That means the entire US franchise system has to be supported by ~1,500 Emira sales per year. Good luck with that.

Absolutely true. But the Eletre/Emeya don't seem to be hot sellers in any other market either. I would be amazed if Lotus can sell even 250 Eletre Carbons in 2025, worldwide. It's priced like a Urus but competes with the Ioniq5N.

 

[Lotustoronto]

I truly wonder what Lotus dealers think? Most have other brands that they rely on and the Lotus brand is just secondary business probably. Eletre Base will most likely will sell well in ROW. At the 100K USD price point it is actually a good EV sport suv. 250K USD? Not so much. Can't dealers here selling any. I'm not even sure how they would service the EV's? Wouldn't that require them to invest some serious money in upgrading equipment for service related issues? Fast charging equipment on site....etc.

 

[Jinba ittai]

I get Geely wanting to use Lotus’ good name. And I get Lotus wanting Geely’s investment. However this line of “lifestyle products” that flys in the face of Lotus’ core values makes no sense to me. I find it completely crazy that they took such a financial gamble on this. It’s like they have no understanding of their customers. Sure, selling only sports cars wasn’t working for Lotus, but did you have to go in the opposite direction of everything that WAS working?

 

[Lotustoronto]

I get Geely wanting to use Lotus’ good name. And I get Lotus wanting Geely’s investment. However this line of “lifestyle products” that flys in the face of Lotus’ core values makes no sense to me. I find it completely crazy that they took such a financial gamble on this. It’s like they have no understanding of their customers. Sure, selling only sports cars wasn’t working for Lotus, but did you have to go in the opposite direction of everything that WAS working?

I get why they did it. If you follow the changing automotive landscape it makes sense. Lotus needed to build an SUV or a high volume selling model to stay afloat. No different than when Colin Chapman green lit the Esprit, a car that was not exactly typical Lotus, but more geared towards higher volumes at the time. These days it's SUV's and every manufacturer is making them. Including Lambo and Ferrari. If your Lotus and just bought by a Chinese company which has direct access to the worlds largest automotive sales market which is heavily transitioning to EV, it would not make sense to go ICE. Chinese EV sales are sky rocketing YOY. I know for North Americans it doesn't make much sense, but at the same time the tariffs did not exist when they started developing this plan back in 2017. I stay committed to the comment that at 100K USD the Eletre would have sold relatively well. Comparable to Urus or DBX sales. I honestly don't know if Lotus will continue in the North American market if there is not some type of change in tariff's in the horizon. I have heard that Geely may buy an existing EU auto plant to build EU/NA EV's, also in that same conversation was that if they do this Hethel will no longer be producing sports cars. (or any sort of production) Take the rumour with a grain of salt.

 

[Jinba ittai]

I agree the tariffs screwed them. And I agree with going electric (I have a deposit on a type 135). It’s the super heavy SUV and Sedan that don’t make sense to me. You’re right, all the manufacturers are doing it. Maybe it’s that the execution doesn’t align with the company’s core values.

 

[Nick in Sydney]

If Geely is willing to keep propping up Lotus Tech until the TYP 134 (Macan competitor) arrives then the company might be sustainable.

The 134 should sell reasonably well, esp in China. The smart strategy would be to also launch a hybrid version.