McLaren Automotive Expects Profit To Rise Due To P1 Supercar Rollout
McLaren Automotive, the carmaker "famed for its Formula One racing arm," expects pre-tax profit to rise fourfold this year on deliveries of its already sold-out million-dollar P1 supercar, according to Jie & Hagiwara of BLOOMBERG. Dir of Finance Paul Buddin said, “It’s the main year in which we deliver McLaren P1s. You can expect quite a strong impact on our turnover and profits.” All of the P1s being built "are already sold out." The car is part of CEO Mike Flewitt’s plans to introduce a new McLaren annually as the company seeks to triple sales in two to three years and to lure buyers from Fiat’s Ferrari and Volkswagen AG’s Lamborghini. The supercar maker "expects to sell about 1,500 vehicles this year," similar to '13, and plans to deliver 4,500 "spread across a range of models in two to three years." By comparison, Ferrari sold 6,922 vehicles and Lamborghini deliveries reached 2,121 in '13 (BLOOMBERG, 4/1).