McLaren Automotive Turns its First Yearly Profits
Building some of the world’s finest supercars is a terrific achievement, as long as it permits you to pay the bills. McLaren Automotive can now say that it has done just that after posting a pre-tax profit of $7.5 million dollars for 2013, and marking the first profitable year on record for the British manufacturer. The company grossed a total of $478 million dollars last year, an increase of around $31.5 million from the year prior. It’s an admirable performance; considering its road car division is only three years old. So what’s kept McLaren Automotive in the black? Strong sales and smart reinvesting. McLaren Automotive sold 1,359 12C sports cars and 36 P1 hypercars last year, a figure that will only increase within the coming years as the group looks to expand road car production to a long-term goal of 4,000 cars per year. However, McLaren reaffirms that the P1 will only yield 375 versions in total – a sales number that has already been reached. The company's latest production, the 650S, has proven to be an initial strong seller and garnered over 1,000 orders this year alone. RELATED: See More photos of the 2015 McLaren 650S
The Woking-based company continues to make performance headway thanks to smart reinvestment as well. In 2013, McLaren Automotive dumped $118 million dollars back into the research and development of its current and future projects, which include the limited track-only P1 and the P13 sports car.
“McLaren Automotive has already developed a deserved reputation for producing the world’s most exciting and technologically advanced high-performance sports cars,” said Mike Flewitt, chief executive of McLaren Automotive. “But these results demonstrate that we have also established a profitable long term business.”
Sales forecasts for 2014 are expected to remain constant, however profits are pegged to increase thanks to the continued sale of the costly P1 hypercar.
RELATED: See More photos of the 2014 McLaren P1 hypercar