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McLaren Automotive Earns Small Profit In 2013, Expects Fourfold Increase In 2014

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McLaren P1

McLaren P1

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After presenting its first model in 2009, McLaren Automotive, the road car division of the McLaren Group, managed to turn in its first profit in 2013. The company had expected to only break even in 2013 and reach profitability in 2014, but like its cars McLaren’s financial results are hitting harder than what they’re promised to deliver.

Privately-owned McLaren hasn’t reported any numbers yet but finance director Paul Buddin revealed to Bloomberg that profits are expected to increase fourfold over the course of 2014. This is due to the bulk of P1 deliveries scheduled to be completed this year. McLaren will also start sales of its latest 650S supercar this year. The company spends approximately $100 million to $116.5 million on product development annually.

Buddin also revealed that revenues are likely to double in 2014 compared to the previous year, although sales numbers will likely stay the same at around 1,500 units per year. Once again, the growth in revenues is due to the deliveries of the flagship P1, which in the U.S. had a starting price of $1.15 million. Yes, all 375 examples planned for production are already sold out. Any owners planning to sell their P1s will almost certainly be charging hefty premiums.

Within the next two to three years, McLaren hopes to boost annual sales to around 4,500 units. The company promises to launch at least one new model per year, and it has two new model lines in the works: one positioned below the 12C/650S duo and one positioned above it. By comparison, closest rival Ferrari chose to limit its sales to 6,922 cars last year while Lamborghini managed to sell 2,121 cars over the same period.

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