British sports car manufacturer confident that its long-term business strategy is on course after hitting sales targets

McLaren Automotive made a profit for the first time in 2013, only its third year of sports car production.

The Woking-based company reported a £12.4 million operating profit and £4.5m pre-tax profit for the year, describing it as a "significant achievement for an independent British car company operating in such a highly competitive global market".

As a result of on-target global car sales – the company delivered 1359 McLaren 12Cs and 36 examples of the range-topping McLaren P1 during the year – revenues rose by £18.8m to £285.4m in 2013.

The company expects the strong financial performance to continue in 2014, largely driven by sales of the P1. It is also reporting strong international orders for the McLaren 650S, that model that has replaced the 12C. The company plans to open another 20 showrooms this year, bringing the total to 70 in 28 markets around the globe.

Mike Flewitt, chief executive of McLaren Automotive, said: “The McLaren 650S is already selling extremely well with more than 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.”

McLaren is preparing to launch its next model, the P13 sports car, in 2015, and has now confirmed a limited-run, track-only edition of the P1 which will only be offered to existing owners of the hypercar.

In line with its long-term business plan, McLaren Automotive’s spend on research and development of new models increased by £2.5m to £70.6m in 2013.

Our Verdict

McLaren 650S

The latest addition to McLaren's line-up may be based on the 12C, but this is a whole new ball-game

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Comments
5

4 June 2014
Its a Shame Antony Sheriff isnt around to enjoy the accolades, amongst others who worked very hard to lay the foundations for that success in profit.

Well Done McLaren keep going

4 June 2014
McLaren sales will increase dramatically with the introduction of the P13 which will compete with the Porsche 911 Turbo and Ferrari 458.

Maybe they should look at an SUV in the future i.e. Porsche Cayenne competitor?

4 June 2014
and great news. Fantastic performance by every member of the McLaren team. Well done and long may it continue.

jt

4 June 2014
You've got to hand it to them - they've done a fantastically good job with the road car division and brought something genuinely unique to the table with their 'James Bond-esque' super-high tech image and product execution. I hope they continue to grow it but, more than that, keep it as a British success story rather than selling out to overseas.

5 June 2014
Of course they are making money, the whole range of cars are technically the same only to be set up differently. i mean, the P1 and MP4 come from the same parts bin only to sent to be modified for the P1 hence "largely driven by sales of the P1". Even the p13 is going to share the same engine, gearbox and tub. It begs to question the true value of that P1, a car that can never ever claim bespoke status. Sell the same medicine and just change the label, i am not buying into that

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