Lotus has just announced a dramatic financial turnaround which has seen it finish the 2016-2017 financial year with a pre-tax profit.
During the year, the British sports car maker returned an impressive $2.6 million in profit, a significant improvement to the $21 million pre-tax loss it made in the previous fiscal year.
However, when you take into account interest, taxes, depreciation and amortization, Lotus did actually lose $14.5 million last year, showing that it still has some way to go before becoming completely financially stable.
With this being said, it’s important to note that the brand’s financial improvements haven’t been achieved by launching any all-new models and simply by offering an extraordinary number of limited edition models. These include vehicles like the Evora GT430, Exige Cup 380, Elise Sprint, Exige Sport 380, Exige 350 Special Edition and Elise 250 Special Edition all in the past 12 months.
According to Lotus boss Jean-Marc Gales, the current Exige and Elise models will keep kicking until early next decade when successors are launched.