McLaren Automotive has announced that 2013 was its first year of profit
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".
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.