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McLaren Automotive posts profits only 3-years into production

P1 in front of McLaren Automotive corporate headquarters in Woking, England.
P1 in front of McLaren Automotive corporate headquarters in Woking, England.
McLaren Automotive

· "Since its inauguration three years ago, McLaren Automotive has already posted its first pre-tax profit, and “outperformed predictions and rivals, setting new benchmarks in the sportscar market with a range of models that push boundaries through innovation and technology, while remaining true to the core values of the brand. 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," stated Ron Dennis, Chief Executive and Chairman of the McLaren Group and Chairman of McLaren Automotive.

In fact, McLaren has pre-sold all 375 P1s to be produced this year at $1.4 million per car, with 100 already in the hands of consumers. They also reported that an additional 51 customers have already added their names to a waiting list for the car, with more anticipated.

"We expected to break even in 2013 but we actually made a small profit so we're slightly ahead. It's a very significant development," stated McLaren Automotive CEO Mike Flewitt, who admitted that he was tempted to extend the P1's production run, but resisted the urge to do so because he believes part of what makes this car special is its rarity.

"I committed to 375 (cars). There are days I regret that now, but part of the demand is driven by the exclusivity."

The P1 (heir to McLaren Cars’ legendary F1 car from the 1990’s), comes with a 3.8 liter twin turbocharged V-8 engine coupled with an electric motor to produce 903 horsepower that boost the super sports car to “an electronically limited top speed of 217 mph. The car also comes with which additional technology taken from its Formula 1 race cars including Instant Power Assist System which allows drivers to “call up an extra burst of power from the electric motor to aid acceleration,” as well as a Drag Reduction System that reduces aerodynamic drag on command to increase straight line speed.”

In the meantime, the company is continuing to focus on its future with more technologically advanced models. Not only have their received well over 1000 orders for the McLaren 650S, they are very excited about the new P13.

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