British sportscar and supercar manufacturer, McLaren Automotive, today announces yet another record-breaking year in respect of vehicle sales and financial performance. Profit before tax of £9.2M from an annual sales revenue of £649.8M in 2016 gave McLaren Automotive a fourth consecutive year of profitability in only six years, since start of sales in 2011. This was an increase in profit before tax of 70% compared to the £5.4M reported in 2015.
The strong financial performance in 2016 was underpinned by record sales, with a total of 3,286 cars purchased; this was a 99% increase over 2015 and exceeded the company’s own expectations by almost 10%, with all geographic regions achieving sales growth.
“The positive financial performance in 2016 was underpinned by a 44% increase in sales revenues and is further proof that McLaren Automotive’s growth plans are both achievable and sustainable," said McLaren Automotive Chief Executive Officer, Mike Flewitt. "Investment in R&D and future product during the period of £129.1M – 20% of turnover – reaffirms our commitment to the Track22 Business Plan that will produce 15 new models or derivatives by the end of 2022 and the focus going forwards will be on successfully delivering these new products and managing continued profitable growth."
In March 2017 the second-generation McLaren Super Series, the new McLaren 720S, was launched. The new car generated immediate customer interest and some 1,500 orders have been taken to date. A new convertible Sports Series model, the 570S Spider, was announced on 14th June 2017 and makes its world debut this week in the UK at the Goodwood Festival of Speed.
Geographically, in 2016 North America continued to be McLaren Automotive’s single largest market with deliveries of 1,139 cars, a 106% increase over 2015. Europe ended 2016 selling 996 cars in total, an increase of 153%, whilst the rapidly-developing market in China sold 228 cars in total.
The Asia Pacific region grew by 90% while the newly combined Middle East, Africa and Central and South America region grew by a notable 69%. In addition, the global footprint of the McLaren retailer network continued apace in 2016, with new dealer facilities opened in Bristol (UK), Boston and Palm Beach (USA), Gold Coast (Australia) and Fukuoka in Japan.
"2016 was an extraordinary year for McLaren Automotive, with a near-doubling of sales and the completion of our 10,000th car," commented McLaren Automotive Executive Director – Global Sales and Marketing, Jolyon Nash. “While we will never again see another jump in sales volume of this magnitude, the reception to the new 720S and the new 570S Spider has been incredibly positive and initial orders for both are beyond our expectations. Having the new, second-generation Super Series and the first-ever Sports Series convertible in showrooms will give every one of the 80 McLaren retailers worldwide the opportunity to contribute strongly to another record year for the McLaren Automotive business in 2017."
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