Lotus has warned that heavy cost savings are on the way as it battles "global trade uncertainties", despite the brand nearly doubling its sales over the past year.
The brand recorded 12,134 sales during the 2024 financial year (June 2024 to April 2025), up 74% from 6970 in the previous financial year.
However, it recorded just $29 million (£21.7m) in gross profit, down from $102m (£76.3m) the year before. This leaves it with just a 3% gross profit margin, down from 15%.
Chief financial officer Daxue Wang blamed this on the impact of worldwide tariffs and further “global trade uncertainties”.
