As a producer of luxury sports cars exclusively, it is indeed an unprecedented success story for McLaren Automotive to be profitable for the second straight year. It was only four years ago that the company’s first retailer was opened. It also posted its fourth consecutive year of growth in sales. It anticipates even more sales as it launches four new models this year.
Two of these new models have already sold out. Its performance is strengthened with the establishment of a three tier product structure that further boosts its future as a manufacturer of luxury sports cars. In 2014, the company, which is overseen by CEO Mike Flewitt, posted an operating profit of £20.8 million.
This is 68% higher than its 2013 profit of £12.4 million. It reported a profit before tax of £15.0 million, which is 233% higher than the £4.5 million reported in 2013. These profits came from turnover that increased from £285.4 million in 2013 to £475.5 million in 2014. At the end of 2014, the company broke sales records as it has been able to achieve each year since it began building its present lineup of cars in 2010.
Global deliveries rose by 18% to 1,649 vehicles. At the 2014 Geneva Motor Show, the 650S in Coupé and Spider versions were unveiled. After they were launched, there was a high demand for the core McLaren model range and it sold 1,401 vehicles. In 2014, there were 248 deliveries of the McLaren P1 while there were 36 in 2013.
This latest figure is about two-thirds of the total production of this model at 375 units. McLaren Automotive has been focusing on the development of its new product. In 2014, the automaker spent £91.8 million in R&D, a significant increase from the £67 million in 2013, which accounts for nearly 20% of turnover.
The company anticipates that this percentage will be sustained in 2015 as it continues to develop its model lineup. The new Sports Series is crucial to this goal. The first vehicle to be launched is the 570S Coupé, which was unveiled at the New York Auto Show last April. A few weeks later, the 540C Coupé followed in Shanghai.
With these two models, the McLaren enters a new segment and makes it accessible to an entirely new market. In 2016, the company will introduce a second body-style. The next one will arrive in 2017. At this time, the Sports Series is predicted to be more than twice the output of McLaren Automotive to around 4,000 units each year.
This number is intentionally small but it will permit McLaren to thrive. It also agrees with its clients’ wish for its products to not be a common sight so that it will preserve the brand’s exclusivity as well as its owners’ investment. The Super Series, which is the core McLaren range, has been getting the attention of a new set of buyers.
Last March at the International Geneva Motor Show, the track focused 675LT had its launch. It took just two months before all of the 500 units were sold. Production will start this July, together with the 650S Coupé and 650S Spider which is presently the only open roofed, mid-engined sports car offered in the world that can go faster than 200mph.