McLaren announces profits, Turnover and income for the last business year, all is great.

McLaren Automotive accelerates to fourth consecutive year of profitability from record sales in 2016; confirms business plan on track with launch of new Super Series and Sports Series models

• 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.

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.

Operating profit of £65.8M in 2016 was the company’s highest ever, standing at 10% of turnover and representing a 180% increase over 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 its first full year of production, the Sports Series family accounted for 2,031 deliveries, the majority of which came from the recently-introduced McLaren 570GT and 570S models.  The Super Series also continued its success story thanks, in large part, to the McLaren 675LT Coupé and Spider models. Having both sold out in a matter of weeks, the limited production, even more driver-focused and higher-performance derivatives of the Super Series started production in mid-2015 but continued through 2016.  In total, 1,255 Super Series cars were sold in 2016.

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.

“The McLaren Automotive business continues to perform strongly, with 2016 returning a fourth consecutive year of positive financial results,”  said McLaren Automotive Chief Financial Officer, Paul Buddin. ”Profit before tax was up by 70% to £9.2M, from our highest-ever operating profit of £65.8M, an increase of 180% over 2015. These results were driven by vehicle sales totalling 3,286 in 2016 – 99% up year-on-year and another record – and significant growth in revenues from McLaren Special Operations (MSO) and McLaren Automotive Aftersales operations.”

Sales increases in all regions

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.

In parallel with the vehicle sales success, McLaren Automotive also saw substantial growth in non-car-related activities.  McLaren Special Operations (MSO), the company’s bespoke division, posted an increase in revenue of 147%, while the Aftersales function recorded turnover growth of 37% for the year.

”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.”

On-going investment in Research & Development and new products

During 2016, McLaren Automotive invested £129.1M in new projects, across the Sports Series, Super Series and Ultimate Series product families.  The Track22 Business Plan sees McLaren investing an industry-leading percentage of turnover (20% in 2016) in R&D activities over the period of the plan. This will take the company towards its objective of producing more than 4,500 vehicles annually by the end of 2022, with at least 50% of these cars featuring hybrid powertrain technology.  The Business Plan also includes the development of a fully-electric powertrain for a concept car to evaluate its possible use in a future Ultimate Series. In 2016, the early prototype stages of the development work commenced.

McLaren Automotive is also investing in senior management infrastructure to support its product development plans.  Dr Jens Ludmann was announced in May 2017 as the company’s new Chief Operating Officer.  Reporting to the CEO, Dr Ludmann will oversee the launch of 13 new models or derivatives during the next five years and focus on further developing internal working processes, relationships and disciplines across Product Development, Purchasing, Supplier Quality Assurance and Manufacturing.

A year of transition for the McLaren Production Centre

The McLaren Production Centre (MPC), the sole location for the hand-assembly of McLaren Automotive sportscars and supercars, underwent signficant operational changes during 2016 calendar year.  A second shift was implemented in January to meet demand for Sports Series models, leading to the creation of 250 new jobs within the manufacturing, quality and logistics departments. This strategic development took capacity at the MPC from 10 cars a day to 20, supporting annual production in the region of 5,000 units.

McLaren Composites Technology Centre to bring chassis production in-house

McLaren Automotive announced in February 2017 that it will construct a new Composites Technology Centre (MCTC) that will be responsible for the development and manufacture of the Monocell and Monocage carbon fibre chassis used in future McLaren models.  Located in Sheffield, UK, the MCTC project is a partnership between McLaren Automotive, the University of Sheffield’s Advanced Manufacturing Research Centre (AMRC) and Sheffield City Council. Combined investment of approaching £50M will create the facility and more than 200 jobs.  When commissioned and running at full production from 2020, the MCTC is targeted to deliver cost savings of around £10M annually compared to today and the chassis supply will increase average percentage (by value) of a McLaren car sourced in the UK by around 8%, from its current average of around 50% (depending on model).

		2016	2015	% change
Deliveries to customers	Cars	3,286	1,654	99%
Employed	People	1,606	1,492	8%
Sales revenue	Million GBP	649.8	450.6	44%
Operating profit	Million GBP	65.8	23.5	180%
Operating profit as % of sales		10%	5%
Profit before tax	Million GBP	9.2	5.4	70%
Profit after tax	Million GBP	7.3	2.8	161%
Capitalised development costs	Million GBP	129.1	123.9	4%
Capitalised investments as a % of T/O		20%	27%

Abarth launches the new 124 Spider hard top for use in Italian Rallying during 2017.

The brilliant new Abarth 124 rally will be one of the highlights of the Abarth stand at this week’s (12-15 January) Autosport International 2017 show.

The red and yellow liveried, hard-top rally car will make a welcome addition to the Abarth stand’s line-up, displaying its irresistible blend of great looks, lightweight chassis, advanced racing technology and 300hp twin cam turbo direct injection engine.

The Abarth 124 rally is a real sports car, set up and tuned directly by Abarth and sold race-ready to interested teams or individuals. This year, the Abarth 124 rally Trophy organised by Abarth will consist of seven rallies* – six on road and one on loose surface – all within the Italian Rally Championship.

The rear wheel drive 124 rally has a character and uniqueness of its own, and features:

• A lightweight set-up with a perfect weight distribution
• A powerful and reliable high performance engine
• Six-speed sequential gearbox with paddle shift
• Mechanical self-locking differential
• Quick turn in with no understeer
• Superb traction in every condition
• Ease of management for teams, with competitive running costs

Alongside the 124 rally, Abarth’s show stand (Hall 20, Stand 2660) will also reveal the new Abarth 595 Elaboration kits: an Abarth 595 145hp will feature, fitted with a Kit Elaborazione 160hp.

This kit is a new performance upgrade pack which allows customers to boost the power of their existing 145hp Abarth 595 up to 160hp through an ECU upgrade. The pack also contains a series of uprated components to further enhance the car’s performance, including:

• BMC air filter
• 4 x Koni shock absorbers
• 4 x Red Eibach lowered springs
• Front Ferodo HP 1000/1 brake pads
• Exterior Abarth Elaborazione badging

Additional Abarth kits and accessories will also be shown, including an upgrade pack for the 595 Turismo 165hp.The Kit Elaborazione 180hp boosts power from 165hp to 180hp and in addition to the ECU upgrade, includes the following uprated components:

• 2 x front Koni shock absorbers
• 2 x front floating drilled Brembo brake discs with calipers
• Front Ferodo HP 1000/1 brake pads
• Exterior Abarth Elaborazione badging

Meanwhile, outside Autosport International’s main exhibition hall, visitors will have the opportunity to appreciate the dynamic abilities of the Abarth 595 first hand in the Abarth Autotest.

“Abarth and Autosport International are a perfect match,” says Gerry Southerington, brand manager, Abarth UK. ”Autosport International is the ideal venue to launch our new Elaboration kits and we are really pleased to be able to offer visitors the opportunity to get behind the wheel of an Abarth 595 in our Autotest”

Abarth prices start at £15,090 OTR for the 595 1.4 TJet 145hp Manual rising to £22,290 OTR for the 1.4 TJet 595C Competizione 180hp Manual.

2017 calendar of Abarth 124 rally Trophy Events:

19 March	40th Rally del Ciocco
2 April	64th Rallye Sanremo
23 April	101st Targa Florio
14 May	24th Rally Adriatico
4 June	50th Rally del Salento
17 September	Rally di Roma Capitale
15 October	35th Rally Due Valli

McLaren Automotive now offers an extended warranty upto 12 years on its cars.

The McLaren Extended Warranty launched in 2014 can now be renewed up to the car’s 12th birthday. The enhancement recognises the increasing number of McLaren cars on the road, with more than 3,000 vehicles today having passed their third birthday, as well as the desire of many owners to retain ownership of their cars.

The policy, which previously could only be extended up to the car’s seventh birthday, covers the majority of factory-fitted components, giving customers the peace of mind that their McLaren will continue to perform in the same way as it was first created.

The McLaren Extended Warranty, available for Sports and Super Series vehicles, comes with a wide range of benefits including unlimited mileage cover, roadside assistance in selected markets and, in the event of claim, guaranteed use of McLaren Genuine Parts fitted by fully trained McLaren technicians.  The scheme is available for all new, existing and approved-used McLaren Qualified vehicles that have covered less than 100,000 miles and have been owned for a minimum of 90 days.  

Carl Whipp, Aftersales Director at McLaren Automotive commented:  “Owners want the reassurance that their car will still be looked after to the same standards with which it was built.  And they want to continue to enjoy their McLaren without worry.  Sometimes daily.  It’s for them that we launched the Extended Warranty and now with this further enhancement to the coverage period, it will continue to give complete peace of mind … right up to the car’s 12^th birthday.”

The McLaren Extended Warranty can be purchased directly from McLaren retailers*, and the cover can be acquired at any point in the vehicle’s life prior to the 10^th anniversary and for the duration of 12 or 24 months. 

*The policy is currently not available in Australia and China but plans are in place to launch the policy in these markets in 2017.

The following items are excluded from the McLaren Extended Warranty:

• General maintenance, scheduled servicing, and routine adjustments required by normal wear and tear and/or recommended by McLaren Automotive Limited, including any replacement parts and assemblies or other materials (including but not limited to, spark plugs, wiper blades, bulbs, filters, belts, coolant hoses, brake pads, lubricants, fluids, and filters) used in such services and adjustments
• Batteries, tyres, wheels, wheel balancing or alignment
• Paintwork, trim and upholstery or the deterioration of any other part, assembly or component as a consequence of wear and tear or exposure to the elements
• After market accessories or non-original equipment, components and systems not installed by a McLaren Retailer are specifically excluded from the coverage
• Any damage caused to any components by the use of incorrect or contaminated fuel
• The renewal of any clutch component due to incorrect adjustment, misuse or general wear and tear
• Water Ingress
• Software upgrades (unless part of a valid repair).

Automotive experts, HPI has revealed the Top 13 list of eerily named vehicles following a poll amongst its team of motoring editors.

Automotive experts, HPI has revealed the Top 13 list of eerily named vehicles following a poll amongst its team of motoring editors.

Tim Bearder at HPI said: “With Halloween just around the corner we thought it would be fun to look at some of the scary names car manufacturers give to their models.  Getting the name of a car right is really important for manufacturers so that it appeals to consumers and sells well.  

Maybe with some of the models we came up with the manufacturers were hoping to scare up a bit of business by giving their cars a menacing but memorable name.

“The HPI team has compiled some outlandish and wonderfully terrifying named vehicles over the years ranging from obscure concept cars, supercars and high value models to more mainstream cars.”

The Top 13 list of eerily named cars polled by HPI is:

1) Rolls-Royce Phantom  

2) AMC Gremlin

3) Pontiac Banshee

4) Hillman Imp

5) Lamborghini Diablo

6) Alfa Romeo Spider

7) Plymouth Prowler

8) Ford Probe

9) Spectre R42

10) Dodge Challenger SRT Hellcat

11) Rolls-Royce Wraith

12) DF Goblin

13) Lamborghini Murcielago (Murcielago is Spanish for ‘bat’)

Added Tim Bearder: “Whether born of attempts to sound genuinely scary or to simply stand out from the crowd, car manufactures have a long history of concocting car names that sound dark and scary. There also a tendency to name cars after animals and these are generally based on predatory beasts.”

USA - Fiat's Abarth brand adds the 124 Spider and 500 to Bob Bondurant’s School of High Performance Driving.

• All-new Fiat 124 Spider Abarth and Fiat 500 Abarth join Bondurant’s lineup of high-performance vehicles
• All customers who purchase or lease a Fiat 124 Spider Abarth or Fiat 500 Abarth will receive – for no charge – a one-day session of high-performance driving with professional instruction and time on the track as part of the FIAT package
• Non-FIAT owners can purchase racing instruction through Bondurant and experience the high-performance Abarth models on the track
• FIAT and Bondurant will celebrate this partnership with wrapped FIAT vehicles and displays at enthusiast events this month:
  • Woodward Dream Cruise, Detroit, Michigan (Saturday, August 20)
  • Concorso Italiano, Monterey, California (Saturday, August 20)

The FIAT brand is partnering with the legendary Bob Bondurant School of High Performance Driving for an all-new Abarth Track Experience, offering owners and fans of the “small but wicked” Abarth models an opportunity to develop their racing and driving skills.

The Fiat 124 Spider Abarth and the Fiat 500 Abarth will join Bondurant’s current lineup of high-performance vehicles as part of the new Fiat Trackside and Road Rally programs, which will be available beginning in November. The 124 Spider Abarth will also be featured in a special race series at Bondurant for Fiat Trackside members.

  

“We have a great relationship with Bob Bondurant, and extending our partnership is an excellent opportunity to provide FIAT fans with the knowledge, skills and setting they need to fully experience the performance that the Abarth models can deliver,” said Tim Kuniskis, Head of Passenger Car Brands – Dodge, SRT, Chrysler and FIAT, FCA – North America. 

“The Fiat 124 Spider Abarth and 500 Abarth join the ranks of the high-performance Dodge Charger and Challenger SRT Hellcats and Viper models that are already part of Bondurant’s fleet, adding to the ‘fun-to-drive’ factor and bringing the Abarth name to a new group of performance enthusiasts.”

Bondurant’s new Fiat Trackside driving program, featuring the 500 Abarth and 124 Spider Abarth, includes an introduction to the FIAT brand and classroom instruction. 

Guests will then join in instructor-led skid, slalom, auto-cross and team rally cross activities, as well as hot laps. The optional second day “Road Rally” is an all-inclusive program that begins at the Bondurant facility. 

The 180- to 220-mile rally includes a morning coffee break, followed by an array of scenic Arizona highways and a private lunch before participants return to the Bondurant School.

“We’re excited that FIAT will join our team to expand our driving programs,” said Bob Bondurant, owner and CEO of Bob Bondurant School of High Performance Driving. “The Fiat 500 Abarth and 124 Spider Abarth will make great additions to our amazing lineup. 

The capabilities of the Fiat coupe and roadster will give people the chance to get behind the wheel of balanced performance vehicles that are as fun to drive on the track as they are during a daily commute.”

FIAT customers who purchase or lease a Fiat 124 Spider Abarth or Fiat 500 Abarth have one year from their purchase or lease date to take advantage of the Bob Bondurant School of High Performance Driving opportunity, which is offered at no charge. 

For more information, to register or to verify whether a particular vehicle qualifies, please visit www.abarthexperience.com.

The all-new 2017 Fiat 124 Spider revives the storied nameplate, bringing its classic Italian styling and performance to a new generation. 

Paying homage to the original 124 Spider nearly 50 years after its introduction, the 2017 Fiat 124 Spider delivers the ultimate Italian roadster experience with driving excitement, technology and safety combined with iconic design. 

The 2017 Fiat 124 Spider Abarth features the proven turbocharged 1.4-liter MultiAir four-cylinder engine, delivering 164 horsepower and 184 lb.-ft. of torque. 

The Abarth-exclusive Sport Mode changes the calibrations of the engine, automatic transmission, electric power steering and dynamic stability control system to ensure a sporty, responsive and performance-oriented driving experience.

A mechanical limited slip differential, featuring a low torque bias ratio, provides improved traction and handling, as well as improved launch performance and power delivery during cornering. 

The Abarth’s unique sport suspension includes mono-tube Bilstein front and rear shock absorbers for increased traction and more precise handling. 

The available Brembo braking system with 17-inch alloy wheels offers monoblock aluminum calipers with four pistons, allowing for improved braking.

Pricing for the all-new 2017 Fiat 124 Spider, the most affordable turbo-powered convertible in the U.S., starts at $24,995 U.S. Manufacturer’s Suggested Retail Price (MSRP), not including destination. The high-performance 124 Spider Abarth starts at $28,195 U.S. MSRP.