McLaren Automotive announces strategic retailer appointment for the Kingdom of Bahrain.

• McLaren Automotive announces strategic retailer appointment for the Kingdom of Bahrain
• McLaren Bahrain to be operated by market leading automotive retailer, Kanoo Motors S.P.C., offering a full range of servicing and sales of the complete McLaren range, including the latest Sports Series models, the 570S and 570GT
• Official appointment announced as part of the McLaren P1™ GTR Driver Programme, the world’s most exclusive drivers club, which recently made its debut in the Kingdom at the Bahrain International Circuit, the Home of Motorsport in the Middle East
• McLaren P1™ GTR Driver Programme Mentor and ex-Formula 1™ driver Bruno Senna was also present at partnership appointment announcement
• The relationship between the British brand and Bahraini conglomerate provides an example of the two countries’ historic ties, which are being celebrated in 2016 with ‘BahrainUK200’ – an initiative marking 200 years of bilateral relations

McLaren Automotive has enhanced its retail network in the Middle East, Africa and Latin America region with the appointment of Kanoo Motors S.P.C. as the retail partner for the Kingdom of Bahrain. 

The appointment was announced by McLaren Automotive Chief Executive Officer, Mike Flewitt and Kanoo Motors Directors, Ebrahim M. Kanoo and Talal F. Kanoo at the Bahrain International Circuit.

Customers and fans will be able to see the range of luxury handcrafted sports and super series cars from McLaren at the McLaren Bahrain showroom next to Moda Mall at the World Trade Centre, while McLaren Service and Aftersales care is now available at the state-of–the-art Kanoo Performance Centre located in Tubli, Road 118 (previously the Kanoo Vehicle Leasing building) opposite to Toyota Plaza, with technicians already fully trained by McLaren to ensure the highest standards of aftercare for McLaren owners in Bahrain.

Currently available from McLaren Bahrain is the Super Series, comprising the groundbreaking McLaren 650S in Coupé and Spider derivatives. Both models incorporate a range of Formula 1™ technologies such as carbon fibre MonoCell, active aerodynamics and the state-of-the-art ProActive Chassis Control, providing the ultimate control on both road and track.

The McLaren range completes with the more attainable and multi award-winning Sports Series conceived to introduce McLaren DNA and performance credentials to the sports car segment. With a road-biased nature, yet still honing race derived technologies to offer supercar levels of performance, the new Sports Series provides enhanced all round usability and promises an exhilarting and fun driving experience. 

The critically-acclaimed Sports Series range includes the McLaren 570S Coupé and 570GT.  Deliveries to customers in Bahrain of each derivative have now started and customers wishing to test drive a vehicle or book a service appointment will be able to find the McLaren Bahrain contact details at: www.bahrain.mclaren.com.

Andreas Bareis, Managing Director McLaren Automotive Middle East, Africa and Latin America, commented on the agreement: ‘I am incredibly proud that McLaren is partnering with such a highly regarded and prestigious business as Kanoo Motors.  Whilst the Sports Series opens up McLaren to an entirely new audience, this retailer appointment unlocks a new audience across our entire model range in Bahrain.’

Bareis continued: ‘The state-of-the-art facilities at the Kanoo Performance Centre, that will be at the forefront of all McLaren service interactions with our customers in Bahrain, highlights the customer focused nature of our new partner, which we are very proud and excited to be working with.’

Mike Flewitt, McLaren Automotive Chief Executive Officer commented: ‘We recently outlined our strategy for McLaren over the next six years, revealing details of the Track22 Business Plan, which represents an investment of £1 billion and will see us continue to focus on building the world’s finest two-seater sports and super cars.  Kanoo Motors undoubtedly shares the same level of ambition and commitment to supporting this plan with the delivery of outstanding levels of customer service to McLaren owners in Bahrain, which can already be seen through their exceptional service facilities that are truly world class.’

Kanoo Motors Director, Ebrahim M. Kanoo added: ‘We are absolutely delighted to be partnering with McLaren Automotive in Bahrain. As one of the leading companies in the Kingdom with a long established track record, we always look to partner with the most progressive and forward-thinking brands that will add value to our business. McLaren Automotive fits that bill perfectly and we look forward to many successful years of cooperation together.’

The announcement of the relationship between this British brand and Bahraini conglomerate provides no better example of the wider and more historical dimension which the two countries are currently celebrating throughout 2016 with ‘BahrainUK 200’, an initiative which marks the 200th anniversary of the bilateral relationship between the United Kingdom and Bahrain, and consists of a year-long series of events showcasing the UK-Bahraini relationship across a wide range of areas including culture, business, arts, sport and education.

H.E. Simon Martin, UK Ambassador to the Kingdom of Bahrain commented: ‘The strategic partnership between a progressive British brand like McLaren Automotive and successful Bahraini entities such as Kanoo Motors can be seen as a new chapter in this ongoing, mutually beneficial relationship and further cements ties between our two nations that have been in place for 200 years.’

This important partnership agreement was completed by McLaren Automotive and Kanoo Motors at an official ceremony held at the Bahrain International Circuit during the debut of the McLaren P1™ GTR Driver Programme in Bahrain.

Former Formula 1™ and McLaren P1™ GTR Driver Programme Mentor, Bruno Senna was also present.  Senna works closely with each of the owners taking part in the McLaren P1™ GTR Driver Programme, ensuring optimum performance for each of the cars and drivers around some of the world’s most iconic and challenging circuits.

The appointment is of further importance to McLaren Automotive, as Bahrain is a key market for the British luxury sports and super car manufacturer, with the Kingdom being home to both the McLaren Automotive regional headquarters for the Middle East, Africa and Latin America region and also to the majority shareholder, Bahrain Mumtalakat Holding Company.

McLaren Automotive posts operational profit Record sales of 1,654 cars in 2015, expected to double in 2016.

• Mclaren Automotive celebrates fifth anniversary with record sales and financial results.
• Third year of profitability.
• Increases in research and development. investment and new shareholding.

• Five years since the first McLaren 12C left the McLaren Production Centre.
• McLaren Automotive posts operational profit 
• Record sales of 1,654 cars in 2015, expected to double in 2016.
• Investment in Research and Development increases to nearly 30% of turnover.
• Employee numbers increase by 16% to manage ongoing development and demand.
• McLaren Automotive welcomes a new investment and shareholder as a sign of future confidence.
• Track22 business plan points to successful future as an independent manufacturer of two-seater sports and supercars.

McLaren Automotive, the British manufacturer of luxury handcrafted sports and supercars, has celebrated the fifth anniversary of the first car rolling off the production line with another record-breaking year. 

Operating profits increased to £23.5M – the company’s third successive year of profitability - from revenues of £450.6M, with revenue projected to increase by 50% over the next two years and double by the end of 2022 – an unprecedented performance in the early years of a car company.  

2015 also marked the fifth successive year of increasing global car sales to 1,654 cars, supported by the launch of no less than five new models.

INDUSTRY-LEADING RESEARCH AND DEVELOPMENT 

2015 was another year of investment for the future of McLaren Automotive with a record amount of £123.9M spent on Research and Development. Similar levels of investment in previous years spawned, in 2015, a total of five new cars and the establishment of the three-tier product family – Sports Series, Super Series and Ultimate Series.

NEW SHAREHOLDER BRINGS EQUITY INVESTMENT TO FUND TECHNOLOGY DEVELOPMENT

The McLaren Automotive annual report also confirms an equity transaction of £49 million.  The new equity represents a total of 6.3% investment in McLaren Automotive from McKal Ltd. The Chairman of McKal Ltd is well-known to McLaren Automotive as an owner of two examples of the McLaren P1^TM as well as a frequent visitor to McLaren track events.

AN UNPRECEDENTED YEAR OF PRODUCT LAUNCHES

With a total of five new cars launched, and the unveiling of the Sports Series, Super Series and Ultimate Series product families, 2015 was an unprecedented year of growth for McLaren Automotive. It was also a transition year with the final McLaren P1^TM produced at the same time as the start of production of the new Sports Series models.

The Geneva Motorshow in March 2015 saw the revival of the famous Long Tail name from McLaren’s illustrious motor racing history with the introduction of the limited-volume McLaren 675LT Coupé in the Super Series. The Coupé was joined in December by a Spider variant. Like the Coupé, the Spider is limited to 500 cars and was sold out in just two weeks.

Following on from the iconic McLaren P1^TM, the Geneva Motorshow in March 2015 also saw the introduction of the track-only McLaren P1^TM GTR. Conceived in direct response to feedback from existing McLaren P1^TMowners, the McLaren P1^TM GTR was designed as the ultimate track car. Almost all of the limited run of McLaren P1^TM GTR cars were built in 2015, with a handful finishing construction in early 2016.

The reveal of the new Sports Series at the New York Autoshow in April 2015 was a pivotal moment in the short history of McLaren Automotive. Charged with more than doubling the company’s global sales volume in the coming years, the McLaren 570S Coupé was launched in New York and was closely followed by the McLaren 540C Coupé at the Shanghai Autoshow in April. The 570GT was added to the Sports Series family at the Geneva Motorshow in March 2016. In 2016, the Sports Series should support the overall company sales growth to a volume of more than 3,000 cars.

GROWTH IN RETAILER NETWORK AND EMPLOYMENT

To cater for the future demand, both the McLaren retailer network and its own employment grew in 2015. The McLaren global retailer network expanded to over 80 retailers covering 30 markets.  Twelve new retailers opened in 2015 covering important territories such as Seoul and Houston. 

Employment at McLaren Automotive also kept pace with sales developments with a total of 1,492 people employed at the end of 2015, an increase of 16% on the 1,283 working at the end of the previous year. The 1,492 headcount increased again substantially to about 1,750 in the early months of 2016 with the introduction of a second shift at the McLaren Production Centre and a further 250 new roles being created in the Production, Quality and Logistics departments. The second shift started in February 2016 with the new roles adding approximately 40 percent to the existing headcount in the Production Centre, and will take production rates from the previous 10 cars per day up to 20 cars per day by mid-2016.

TRACK22 DRIVES TOWARDS A SUCCESSFUL FUTURE

Looking forwards, McLaren Automotive has revealed details of its Track22 Business Plan, taking it through to 2022. With a continued focus on building the world’s finest two-seater sports and super cars, the business plan reiterates a commitment to its industry-leading 20-25 percent of turnover invested in Research and Development for future products and technology.  Over the six-year Business Plan period, this represents an investment of £1B and will lead to the launch of 15 all-new cars or derivatives. Of these cars, at least 50 percent will feature hybrid technology by the end of the Business Plan period and the company is also in the early prototype stages of the development of a fully-electric powertrain to evaluate its possible use in a future generation of an Ultimate Series car.

Chief Executive Officer of McLaren Automotive, Mike Flewitt, said of the financial results: ‘2015 was a critical year in the development of McLaren Automotive. The launch of the Sports Series opens McLaren up to an entirely new audience and will be pivotal in developing our sales volumes from the 2015 levels of 1,600 to nearly triple that number by 2020. For this to be achievable, we need to remain profitable but also continue to invest in our future product portfolio. In 2015, this amounted to £124M, nearly 30% of revenues. This level of commitment to investing in future products is core to our business strategy, as highlighted by the recently-announced Track22 business plan that commits us to investing £1B in research and development, delivering no less than 15 all-new cars or derivatives by 2022.’

		2015	2014	% change
Deliveries to customers	Cars	1,654	1,649	0.06%
Employed	People	1,492	1,283	16%
Sales revenue	Million GBP	450.6	475.5	(5.2%)
Operating profit	Million GBP	23.5	20.7	13.5%
Operating profit as % of sales	%	5.2%	4.4%
Profit before tax	Million GBP	5.4	14.9*	(63.8%)
Profit (loss) after tax	Million GBP	2.8	8.4*	(66%)
Capitalised development costs	Million GBP	123.9	91.9	35%
Capitalised investments as a %age of T/O		27.5%	19.3%

*as presented in the 2014 Statutory Accounts before changes in the UK generally accepted accounting provisions (GAP)

McLaren Glasgow awarded McLaren Retailer of the Year 2015 after just twelve months of trading

• McLaren Glasgow awarded McLaren Retailer of the Year 2015 after just twelve months of trading
• Award recognises highest performance across key business areas
• Final stage of the awards saw Glasgow competing against finalists from Asia Pacific, Middle East & Africa and The Americas regions

McLaren Glasgow has been named McLaren Global Retailer of the Year 2015 following an award ceremony in London attended by Mike Flewitt, CEO, and Jolyon Nash, Executive Director – Global Sales and Marketing, as well as finalists from across the McLaren global retailer network.  

McLaren Glasgow, the company’s first retailer in Scotland, impressed the internal judging panel with consistently exceptional scores across all key business areas, not least customer service.

The global competition saw 80 locations across 30 markets in the running for the award.  Retailers were scored based on performance against a range of targets including new and used car sales, customer satisfaction, aftersales performance and general operating standards.  Direct customer feedback was utilised in evaluating each dealer’s performance.  

“The exceptional customer service provided by our retailer network is extremely important for building the McLaren brand,” said Mike Flewitt, CEO. “The Retailer of the Year Awards has been running for two years and has seen intense competition from the outset. Hence, I’m very pleased to see McLaren Glasgow emerging as a benchmark across all key imperatives which underline the strong efforts of the team.”  

The Award was presented to Ross Park, Director at McLaren Glasgow by Jolyon Nash, Executive Director – Global Sales & Marketing who commented: “I am absolutely delighted for McLaren Glasgow and would like to congratulate them on this exceptional achievement.  Our retailer network delivers the impeccable standards expected by our customers and for them to receive such a prestigious accolade in only their first year of trading is unprecedented.  The Award comes as a real testament to the passion, knowledge and professionalism embodied by their team and I look forward to continuing our shared success.”

The Retailer of the Year trophy was designed by McLaren’s in-house design team and pays tribute to its iconic speedmark logo.  It is finished in the same distinctive silver chrome paint featured on the brand’s historic Formula 1™ race cars. 

The Award ceremony took place in London on Thursday, June 23.  Ahead of the event, five highest scoring retailers including McLaren Dallas, McLaren Glasgow, McLaren Johannesburg, McLaren Philadelphia and McLaren Taipei were treated to a Pure McLaren Driving Experience at Brands Hatch where they could experience the full performance capabilities of McLaren vehicles on the track.

McLaren Glasgow crowned European Retailer of the Year 2015 following only 12 months of trading.

• McLaren Glasgow crowned European Retailer of the Year 2015 following only 12 months of trading
• McLaren Retailer of the Year Awards recognise outstanding customer service and business performance
• The Awards are open to all McLaren retail locations with the Global Retailer of the Year 2015 due to be announced later this year

In only its first full year of trading, McLaren Glasgow has been named the European Retailer of the Year 2015 in recognition of its highest business standards. The competition saw entries from the full McLaren retailer network in Europe comprising 21 locations in nine key markets. 

All contenders were benchmarked through an extensive assessment process and scored against a number of key areas such as sales, customer service, aftersales and marketing. McLaren Glasgow emerged as the European Retailer of the Year joining McLaren Johannesburg, Philadelphia and Taipei as one of four regional finalists for the Global Retailer of the Year 2015 Award that is due to be announced later this year.

"On behalf of McLaren I would like to congratulate McLaren Glasgow on this fantastic achievement," said Jon Pollock, Managing Director – Europe at McLaren Automotive. "To go from nothing to the best in Europe in 12 months is a huge accomplishment and I look forward to working together to fulfil our ambitious growth plan in Europe."

Upon receiving the award, Ross Park, Director at McLaren Glasgow, commented: "McLaren Automotive is renowned for the impeccable standards of their business so to be recognised as European Retailer of the Year 2015 is a testament to the hard work and professionalism of the team here at McLaren Glasgow. I would like to thank everyone involved and look forward to continuing our success with McLaren."