Car News 24 Feb 2016

McLaren Make a Profit

McLaren Make a Profit

McLaren Automotive, the road car division, have reported profits in 2013 for the first time in their three year history. They have reported operating profit of £12.4million and pre-tax profit of £4.5million for 2013. In such a globally competitive market, this is a remarkable achievement for the British brand. By meeting their sales targets, McLaren Automotive sold 1,359 of their 12C model and 36 of the high end P1 model in 2013. McLaren boosted their revenues in 2013 by a staggering £18.8milion and believe their strong financial performance will continue this year, with the P1 sales at the forefront. After their expansion into Asia, due to increasing demand for luxury cars, international orders for the 650S have been strong. McLaren are making plans to open a further 20 showrooms in 2014, taking their total to 70 around the world. McLaren Automotive’s next project is the P13, due to launch in 2015. McLaren believe this will enable them to access new markets and make the brand more accessible to customers. The P13 will be positioned with a lower price in the market in order to compete with the likes of Ferrari and Porsche. Overall, this is intended to increase sales volume and therefore revenue and profits. In contrast, the P1 will be offered as a limited, track only edition exclusively for existing owners of the P1 hypercar. McLaren’s Research and Development spend was increased by £2.5million to £70.6million in 2013 and this is an area which they intend to continue investing into for their new models.

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