Published on July 2nd, 2017 | by Daniel Sherman Fernandez0
McLaren accelerates to 4th consecutive year of profitability from record sales in 2016
McLaren Automotive expects to post another record performance this year after reporting a 70% increase in pre-tax profits in 2016 on record vehicle sales.
- Record 3,286 McLaren cars sold in 2016 drives 70% increase in profit before tax
- £65.8M operating profit for period is 180% gain on 2015 and fourth consecutive year of operating profit in only sixth year of selling cars
- Sales revenues of £649.8M in 2016, up by 44%
- Turnover of bespoke sales division, McLaren Special Operations, grows by 147% compared to 2015, with Aftersales revenue also increased, by 37%
- Continued significant investment in Research and Development, at £129.1M (20% of turnover) in 2016
- Workforce grows by further 8%, to manage company growth and meet product demand
- Track22 Business Plan confirmed as on track to deliver ongoing success for McLaren Automotive as a manufacturer of luxury sportscars and supercars
- First car launched under Track22 was McLaren 720S, in March 2017; sold out for this year with 1,500 orders taken
- Second car is new McLaren 570S Spider, which makes world debut at Goodwood Festival of Speed as the first convertible in the McLaren Sports Series
- British sportscar and supercar manufacturer, McLaren Automotive, today announces yet another record-breaking year in respect of vehicle sales and financial performance.
McLaren was established by New Zealand-born race driver and car designer Bruce McLaren in 1963 and first competed in the Formula One world championship three years later. It ranks second only to Ferrari in the number of drivers’ titles won.
Its racing heritage helps McLaren stay on the cutting edge of technology. In 2012, McLaren Applied Technologies became the sole supplier of engine control units for cars competing in the NASCAR Sprint Cup. McLaren Technology Group, which also oversees the firm’s Formula One racing team, boasts of clients as diverse as accounting firm KPMG and health care giant GSK. McLaren used its experience turning over race cars in pit stops and to help GSK improve the way it changed its toothpaste manufacturing, speeding up the process when the production line changed from one brand of toothpaste to another.