McLaren P1 prototype hot-weather testingEnlarge Photo
McLaren Automotive, the road car division of the famous British racing team, has announced its financial results for 2013 and during the announcement also confirmed two new cars. Although we already knew the cars were coming, McLaren has now made them official and even confirmed a release date. The cars are a track-focused version of the P1 hypercar and a new entry-level model codenamed the P13. Both cars are due in 2015 and will form new bookends for the company in terms of pricing.
The track-focused P1, likely to be called the P1 Track, will be made available only to original owners of the road-going P1. Numbers will be limited, with McLaren promising the car will be its rarest. It will also be McLaren’s most powerful, meaning a total power output higher than the road-going P1’s 903 horsepower.
At the other end of the spectrum will sit the new P13, a more forgiving supercar sharing its carbon fiber tub and V-8 engine with McLaren’s other models but with a look and feel all of its own. McLaren says the P13 will be its most affordable model (a title that currently goes to the $265,000 650S) and offer more than one derivative. That likely means we’ll see both coupe and convertible versions, although there are rumors a more versatile ‘GT’ version with additional storage space will be offered as well.
The addition of the P13, McLaren says, will finally see the automaker’s annual production reach 4,000 units, as promised by McLaren Group CEO Ron Dennis prior to the formation of McLaren Automotive. As for the company’s financial health, it’s done remarkably well considering it’s only been producing cars for three years and competes in one of the toughest segments in the industry.
Revenues in 2013 were £285.4 million (approximately $477 million) and profit before tax was £4.5 million ($7.5 million). McLaren spent £70.6 million ($118 million) on R&D in 2013, up from £68.1 million ($114 million) the previous year, and delivered 1,395 cars (1,359 12Cs and 36 P1s).
Looking forward, McLaren expects revenues and profits to grow in 2014 and will continue to expand its global reach. The company currently has 50 dealers worldwide and plans to add 20 more in 2014, with a view to having over 100 by 2018.
“Since launch, McLaren Automotive has outperformed predictions and rivals, setting new benchmarks in the sports car market with a range of models that push boundaries through innovation and technology, while remaining true to the core values of the brand,” Ron Dennis said in a statement. “The latest financial results, and returning a profit so early in the life of the company, are a real credit to the tremendous team within McLaren Automotive, and reflect their hard efforts.