McLaren races ahead despite its F1 reverses
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Version 0 of 1. McLaren’s problems on the Formula One track didn’t dent sales of its supercars last year as profits in its automotive arm roared ahead by more than 200 per cent. The company’s racing team finished fifth in the constructors standings in 2014 and continues to lag competitors like Mercedes despite McLaren’s recent tie-up with Honda to produce its engines. However, this did not prevent young customers in Asia splashing out a small fortune on models like the Coupe and Spider, which can travel at speeds of more than 200mph. McLaren Automotive’s profits rose from £4.5m to £15m, with revenues up 67 per cent to £475.5m. “I’m proud of our F1 team and am looking forward to them winning more championships in the future,” its chief executive, Mike Flewitt, said. McLaren cars are now available in 30 countries through a network of 71 retailers. The company’s cars usually cost hundreds of thousands of pounds, although this can stretch into the millions, Mr Flewitt added. On the profile of its customers in Asia, where sales were up 80 per cent, he said: “[They] tend to be surprisingly young – those with wealthy parents who buy expensive cars in their early 20s. That’s different to how things are in the West, where it’s more likely to be someone aged 40 and above.” |