McLAREN AUTOMOTIVE ON TARGET FOR LONG-TERM SUCCESS
AddThis Social Bookmark Button
By: McLaren Automotive

McLAREN AUTOMOTIVE ON TARGET FOR LONG-TERM SUCCESS  Key information:

◾Profit before tax - £4.5m

◾Operating profit - £12.4m

◾Turnover - £285.4m (up from £266.6m)

◾Investment in future models - £70.6m (up from £68.1m)

◾Turnover and profit both expected to grow in 2014

◾McLaren Automotive's next model, codenamed P13, to go on sale during 2015

McLAREN AUTOMOTIVE ON TARGET FOR LONG-TERM SUCCESS  ◾Limited run of track only McLaren P1™ hypercar confirmed for introduction in 2015

◾McLaren 650S international sales already strong – more than 1000 orders received

McLaren Automotive made both an operating and pre-tax profit for the first time in 2013, during only its third year of car production. This is a significant achievement for an independent British car company operating in such a highly competitive global market.

McLaren Automotive's improved profitability proves the company's longer term business model, which is able to invest continuously in R&D in order to develop and sell the world's most exciting and technologically advanced high performance cars.

McLaren Automotive has also confirmed that its next all-new sportscar, codenamed P13, will be available before the end of 2015 and will take its range into a lower price-point - making McLaren more accessible, while retaining its commitment to excellence, performance and innovation.


Trending News
  • Toyota Financial Services (TFS) Named One Of The Most Community-Minded Companies In The Nation
  • J.D. Power Names Fort Wayne Assembly Highest Quality In The Americas
  • Genesis Ranked Highest Premium Nameplate For Initial Quality By J.D. Power
  • All FCA US Brands Improve In J.D. Power 2017 US Initial Quality Study (IQS)
  • Kia Tops J.D. Power's Initial Quality Nameplate Rankings For Second Straight Year

    P13 will be a comfortable, usable, and beautiful mid-engined two seater sportscar, built around a carbon fibre chassis. It will be available in more than one derivative and once fully on sale, McLaren Automotive's total annual production will increase to around 4,000 units per year.

    At the other end of its range, McLaren Automotive has also confirmed that it will produce a limited run of track-only editions of its award winning McLaren P1™ hypercar. Available only to clients who have ordered one of the 375 road legal versions, the car will be the company's most powerful car yet. It will also be its rarest.

    Commenting on the results, Ron Dennis, Chief Executive and Chairman of the McLaren Group and Chairman of McLaren Automotive, said: 'Since launch, McLaren Automotive has outperformed predictions and rivals, setting new benchmarks in the sportscar market with a range of models that push boundaries through innovation and technology, while remaining true to the core values of the brand. The latest financial results, and returning a profit so early in the life of the company, are a real credit to the tremendous team within McLaren Automotive, and reflect their hard efforts.'

    Mike Flewitt, Chief Executive of McLaren Automotive, added: 'McLaren Automotive has already developed a deserved reputation for producing the world's most exciting and technologically advanced high performance sports cars. But these results demonstrate that we have also established a profitable long term business, which is able to invest heavily in R&D, recruit the best people and ultimately create world class products. In a highly competitive market, we have laid solid foundations for future success.'

    He added: 'We are now focusing upon the road ahead. The McLaren 650S is already selling extremely well with over 1000 orders received and P13 is a very exciting project, which will help us to access new markets and customers, grow our sales volumes and ultimately increase both revenue and profitability. I am confident that by maintaining our commitment to innovation and excellence McLaren Automotive has an extremely bright future.'

    As a result of on-target global car sales, McLaren Automotive's revenues rose by £18.8m to £285.4m in 2013. The company delivered 1,359 12Cs and 36 examples of the McLaren P1™ during the year.

    In line with its long term business plan, the company has continued to invest in the infrastructure, personnel and new technology required to support future growth. McLaren Automotive's spend on R&D and the development of new models increased by £2.5m to £70.6m in 2013.

    When McLaren Automotive was launched, it promised to unveil a new car or derivative every year. It continued to deliver on that promise during 2013, with the launch of the McLaren P1™ at the international Geneva Motor Show. The most technologically advanced car ever produced in the UK, just 375 will be produced all of which sold out within six months of being announced. Production began on schedule last September and more than 100 are now in customer's hands.

    In 2013 McLaren Automotive also continued to expand its geographical reach, opening 13 new showrooms and growing its global network to 50 retailers in 28 international markets. This included opening four new retailers in China in: Shanghai; Beijing; Guangzhou and Chengdu. The company plans to open another 20 retailers during 2014 and to have over 100 locations in its global network by 2018.

    McLaren Automotive began 2014 with the launch of the new 650S Coupé and Spider. This was the first time in its short history that two models had been launched simultaneously across all its 28 global markets. The company is on track for even greater success in 2014, and the recent appointment of Jolyon Nash as Executive Director, Global Sales and Marketing, will further strengthen the team when he joins on 1 July 2014, bringing a wealth of experience of the luxury market.

    The Group expects to continue delivering strongly against its ambitious growth plan during 2014. Total global sales volumes are expected to remain broadly in line with 2013. However, both turnover and profit are predicted to increase, driven by sales of the McLaren P1™.

  •  
     
     

    Photo credit: McLaren Automotive
    posted on conceptcarz.com

       Recent Articles
    Aston Martin Racing Claim 24 Hours Of Le Mans Victory

    Sunday 18 June, Le Mans, France: Aston Martin Racing has taken victory at the 85th 24 Hours of Le Mans in dramatic style, after Jonny Adam (GB) snatched the GTE Pro lead on the final lap of the iconic......
    Double Jubilee: Škoda Celebrates Four Million Fabias And 500,000 Of Third Generation

    – ŠKODA has produced the 500,000th third-generation FABIA in Mladá Boleslav today. At the same time, the manufacturer is celebrating another milestone: the four millionth ŠKODA FABIA since the series......
    The Peninsula Classics Best of the Best Award Announces Finalists and Judges

    – The Peninsula Hotels today announced the eight exceptional vehicles that will be eligible to receive the second annual The Peninsula Classics Best of the Best Award, the international motoring worlds......
    Morgan Motor Company Re-Acquires Malvern Home With Land Acquisition Deal

    Continuing the positive momentum in the business, and as part of a long term strategy, Morgan Motor Company has hit yet another milestone in a record year, with the re-acquisition of factory land. At......
    Greenwich Concours : Super and Hyper Cars

    The two-day Greenwich Concours dElegance featured Bugattis, Ferraris and other exotic foreign cars of all vintages at Roger Sherman Baldwin Park. These extreme Supercars, known for their high-performance......
    Vauxhall Launch Brand Positioning With New Insignia Campaign

    : Vauxhall Motors reveals its new brand claim, Isnt Life Brilliant within a bold new campaign entitled, This is not a car for the launch of the new Insignia in the UK. The creative positioning presents......
    DS Automobiles And Brand Ambassador Pascal Aussignac Bring Chefs Of The Avant-Garde To Taste Of London

    DS Automobiles has joined forces with Michelin-starred chef Pascal Aussignac to find the most talented up-and-coming chefs that embody the French brands spirit of avant-garde. Ruth Hansom, David......
    Prince Albert Of Monaco Drives The Honda Clarity Fuel Cell In Lap Of Honour At Formula 1 Grand Prix De Monaco 2017

    His Serene Highness Prince Albert II of Monaco has driven the all-new Honda Clarity Fuel Cell on the lap of honour for the FORMULA 1 GRAND PRIX DE MONACO. The lap represents the opening of the race......
    2018 Aston Martin Vantage AMR
    2018 Aston Martin Vantage AMR  2018 Aston Martin Vantage AMR  2018 Aston Martin Vantage AMR  2018 Aston Martin Vantage AMR  2018 Aston Martin Vantage AMR  
    2018 Audi Q8 Sport Concept
    2018 Audi Q8 Sport Concept  2018 Audi Q8 Sport Concept  2018 Audi Q8 Sport Concept  
    2018 Nissan Qashqai
    2018 Nissan Qashqai  2018 Nissan Qashqai  2018 Nissan Qashqai  2018 Nissan Qashqai  2018 Nissan Qashqai  
    2018 Porsche Panamera Turbo S E-Hybrid
    2018 Porsche Panamera Turbo S E-Hybrid  2018 Porsche Panamera Turbo S E-Hybrid  2018 Porsche Panamera Turbo S E-Hybrid  2018 Porsche Panamera Turbo S E-Hybrid  2018 Porsche Panamera Turbo S E-Hybrid  
    2018 Volvo XC60
    2018 Volvo XC60  2018 Volvo XC60  2018 Volvo XC60  2018 Volvo XC60  2018 Volvo XC60  
    2017 Alfa Romeo Giulia
    2017 Alfa Romeo Giulia  2017 Alfa Romeo Giulia  2017 Alfa Romeo Giulia  2017 Alfa Romeo Giulia  2017 Alfa Romeo Giulia  
    2017 Alpine A110
    2017 Alpine A110  2017 Alpine A110  2017 Alpine A110  2017 Alpine A110  2017 Alpine A110  
    2017 Alpine A470
    2017 Alpine A470  2017 Alpine A470  2017 Alpine A470  2017 Alpine A470  2017 Alpine A470  
    2017 Aston Martin Rapide AMR
    2017 Aston Martin Rapide AMR  2017 Aston Martin Rapide AMR  2017 Aston Martin Rapide AMR  2017 Aston Martin Rapide AMR  2017 Aston Martin Rapide AMR  
    2017 Aston Martin Vantage AMR Pro
    2017 Aston Martin Vantage AMR Pro  2017 Aston Martin Vantage AMR Pro  2017 Aston Martin Vantage AMR Pro  2017 Aston Martin Vantage AMR Pro  2017 Aston Martin Vantage AMR Pro