Lotus has reported its fourth-quarter revenue at $271.5 million, a noticeable decrease from the $361.1 million recorded in the same period last year. Despite this revenue decline, the company has achieved significant operational growth by expanding its global deliveries, marking a 74% increase year-over-year to 12,134 units in 2024.
The CEO of Lotus, Qingfeng Feng, highlighted the firm's strategic adjustments, which include broadening the product pricing range and introducing new configurations. These efforts aim to cater to a wider array of market demands and expand the customer base. This strategy is designed to maintain a growth rate in global deliveries that surpasses the broader luxury market.
Additionally, Lotus is actively exploring potential strategies to address ongoing global trade uncertainties, focusing on strengthening its presence in key markets like North America. The company is pursuing the ONE LOTUS strategy, which aims to integrate all business operations under the Lotus brand. This initiative is expected to enhance brand value, improve operational flexibility, and foster internal synergies, ultimately creating long-term value for both customers and shareholders.
