Lotus - Q3 results

https://ir.group-lotus.com/news-releases/news-release-details/lotus-technology-reports-unaudited-third-quarter-and-first-0

Couple of things worth noting:

-- Only 1,298 Emiras were sold in the first nine months of 2025
-- EV sales are holding up better than I expected, but mostly in China. 3,314 EVs sold so far this year. Then again, the original plan was to sell 70,000 units a year!
-- The PHEV (hybrid) vehicle will be launched in the next few months. Probably a hybrid Eletre? I'd be surprised if the TYP 134 (Macan competitor) is ready for launch

This comment made me worry about the future of Hethel: " . . . the Company maintains active cooperation with Lotus UK and is methodically and prudently developing detailed integration plans to ensure a smooth transition and maximize synergies"

 

[Six Speed Stephen]

This comment made me worry about the future of Hethel: " . . . the Company maintains active cooperation with Lotus UK and is methodically and prudently developing detailed integration plans to ensure a smooth transition and maximize synergies"

That's just referring to the corporate restructure. Don't think it's related to the factory plans.

I'm still waiting on that Emira refresh news!

 

[geoffbland]

Something also mentioned in the call was the following:

"In addition to that, we’ve also relocated our European headquarters from the Netherlands back to the U.K., cutting operational expenses and allowing us to focus resources on key markets. Returning to Lotus’ birthplace also helped us better tell the brand story and strengthen our reach across Europe and beyond. Such measures further improve our overall efficiency."

 

[EspritGuy]

https://ir.group-lotus.com/news-releases/news-release-details/lotus-technology-reports-unaudited-third-quarter-and-first-0

Couple of things worth noting:

-- Only 1,298 Emiras were sold in the first nine months of 2025
-- EV sales are holding up better than I expected, but mostly in China. 3,314 EVs sold so far this year. Then again, the original plan was to sell 70,000 units a year!
-- The PHEV (hybrid) vehicle will be launched in the next few months. Probably a hybrid Eletre? I'd be surprised if the TYP 134 (Macan competitor) is ready for launch

This comment made me worry about the future of Hethel: " . . . the Company maintains active cooperation with Lotus UK and is methodically and prudently developing detailed integration plans to ensure a smooth transition and maximize synergies"

Interesting/dismal Emira sales versus prior years. This was always a niche enthusiast car and early adopters had their needs met. Silver lining? Exclusivity & Collectible Status.

 

[Nick in Sydney]

"In addition to that, we’ve also relocated our European headquarters from the Netherlands back to the U.K., cutting operational expenses and allowing us to focus resources on key markets. Returning to Lotus’ birthplace also helped us better tell the brand story and strengthen our reach across Europe and beyond. Such measures further improve our overall efficiency."

that's very positive news. Hopefully it means they're committed to Hethel (or at least the UK)

 

[freefall_junkie]

Interesting/dismal Emira sales versus prior years. This was always a niche enthusiast car and early adopters had their needs met. Silver lining? Exclusivity & Collectible Status.

Indeed, this is the trouble with niche cars. Sooner or later everyone who wants one and can afford to buy new has done so. Terrible execution by Lotus management on the QC and customer care front is a major factor too. It is a staggering turnaround from this time exactly 3 years ago, when Hethel had 10k cars in the order book and some UK dealers had literally hundreds in the queue for a test drive. It really makes me wonder about the future of the Emira as I seriously doubt it is financially viable for Geely at sub 2k units a year .

 

[geoffbland]

It really makes me wonder about the future of the Emira as I seriously doubt it is financially viable for Geely at sub 2k units a year .

Although it is worth remembering that Lotus for many years just produced 2-3,000 Elise per year (and way fewer Evora) so I guess it may be possible to be viable manufacturing the Emira at these types of volumes.

 

[Nick in Sydney]

Although it is worth remembering that Lotus for many years just produced 2-3,000 Elise per year (and way fewer Evora) so I guess it may be possible to be viable manufacturing the Emira at these types of volumes.

Yes, and also the numbers for the first nine months were significantly impacted by the US tariffs. Hopefully US sales will bounce back now and lift the ongoing sales to >3,000

 

[MiamiBlue]

The original planned factory output of 5000 Emiras a year looks like a pipe dream now.

But 2025 has been a transitional year. In the UK they've still been selling FE stock from storage that were built in 2022/2023. They seem to have finally gone and we'll get the newer SE cars delivered next year. We'll then see how many they've managed to sell at the new price point.

 

[freefall_junkie]

Although it is worth remembering that Lotus for many years just produced 2-3,000 Elise per year (and way fewer Evora) so I guess it may be possible to be viable manufacturing the Emira at these types of volumes.

That is true of course and I hope you are right. I would be great if the Emira can live on for a good few years as a more exclusive car. I guess the difference from the previous models is that the Emira factory and supply chain were set up to work with much bigger volumes.

I think Emira sales badly need a shot in the arm from a go-faster R/S/GT model. Right now there is little incentive to buy new when pre-registered or nearly news cars can be bought at such a huge discount off list. Seems like a missed opportunity for Lotus. Porsche is very good at this type of thing - there is always yet another 911 variant getting coverage in the press.

 

[Hethel Merman]

Although it is worth remembering that Lotus for many years just produced 2-3,000 Elise per year (and way fewer Evora) so I guess it may be possible to be viable manufacturing the Emira at these types of volumes.

They also had a lucrative Engineering Consultancy division propping up the business back then.

 

[Honcho]

That is true of course and I hope you are right. I would be great if the Emira can live on for a good few years as a more exclusive car. I guess the difference from the previous models is that the Emira factory and supply chain were set up to work with much bigger volumes.

I think Emira sales badly need a shot in the arm from a go-faster R/S/GT model. Right now there is little incentive to buy new when pre-registered or nearly news cars can be bought at such a huge discount off list. Seems like a missed opportunity for Lotus. Porsche is very good at this type of thing - there is always yet another 911 variant getting coverage in the press.

Let's hope the likes of the Emira can continue to be made, but its seems there is a lot of negativity online around the Lotus brand. It almost seems like this has been created by bots. Also, I think it is a wise idea to encourage them to go into more mass market products like electric suvs to keep the brand alive and ensure the likes of the more niche sports cars can continue to be produced. The negatively online around these types of vehicles only serves to decrease sales overall, therefore the future viability of lower selling models and our ability to buy them.

 

[Lotus64]

1298 units through Q3 is a far cry from the 6000 planned units, let alone the full capacity of 10000. Between supply chain issues and Trump tariffs, the Emira never stood a chance. Bodes well for exclusivity and residuals, but still disappointing to see the platform handicapped by factors out of its control.

 

[RoryBellows]

Well they essentially stop saled themselves in America so its not surprising their sales suck on the year.

 

[Frimley111R]

Also, don't forget, most other manufacturers are having the same issues and many are far larger than Lotus' issues. The fact is that it is tough for everyone right now and changes at Lotus are just responses to this.

With the Emira, the car was in a transition period in 2025 and the US growth was halted.

I do agree it needs an 'RS' type version to boost sales but if by hugely increase the cost for any car sales will always suffer. 11 months ago my car cost me £70k. Today it is £112k!!! (Although I think that the actual retail price may have been around £90k).

Overall Geely have invested massive amount of money, it knows Lotus' struggles are due to the market, not the company and it has a plan to meet these challenges.

 

[ADC]

In addition to that, we’ve also relocated our European headquarters from the Netherlands back to the U.K.

Hopefully this means the warranty team is back over here too... the Netherlands has been painful to deal with.

 

[Six Speed Stephen]

They also had a lucrative Engineering Consultancy division propping up the business back then.

They still operate that business. https://www.lotusengineering.com/capabilities/

I have a suspicion the new Genesis Magma GT Concept is based on an Emira