Motor Racing News

McLaren Posts Four Consecutive Years Of Profitability

Originally Published On Auto X |

The company has shared some very encouraging statistics at the Goodwood Festival of Speed 2017.

British supercar firm, McLaren Automotive, dived into the road car business in 2011, and since then there has been no looking back. The firm, which prior to 2011 only sold track-exclusive race cars, has seen its popularity surge ever since its 12C supercar was introduced.

McLaren’s ambitious expansion plans seem to be headed in the right direction with the firm posting four straight years of profitability. This is a triumphant moment for McLaren because it has managed to lock horns with the likes of Ferrari, Porsche and Lamborghini – something that many other small supercar firms have failed at.

The company sold 3,286 cars in 2016, which is not only a whopping 99 per cent year-on-year increase over 2015 but even 10 percent higher than McLaren’s own predictions. This equals to a reported revenue of £649.8 million in 2016 – up by 44 per cent year-on-year. These profits are also expected to facilitate McLaren’s Track22 Business Plan – where the company aims to develop 15 new or derived models by the end of 2022.

The carmaker, earlier this year had also revealed its plans to create 200 jobs as part of a £50 million investment to build carbon-fibre chassis in northern England. This site will serve as McLaren’s first purpose-built site away from Woking – McLaren’s headquarters city. The new facility, expected to be functional by 2020, will generate annual savings of around £10 million.

“The positive financial performance in 2016 was underpinned by a 44% increase in sales revenues and is further proof that McLaren Automotive’s growth plans are both achievable and sustainable,” said McLaren Automotive Chief Executive Officer, Mike Flewitt.

Additionally, the British company also used Goodwood Festival of Speed 2017 as a platform to showcase the 570S Spider, which was previously revealed digitally.