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Dubai
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Thursday 08:00AM - 06:00PM
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Al Habtoor Motors Head Office
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McLAREN AUTOMOTIVE MIDDLE EAST & AFRICA REGION REPORTS UNPRECEDENTED SALES GROWTH IN THE FIRST HALF OF 2016

7 Aug 2016. McLaren Dubai News.

McLaren Automotive Middle East & Africa region sales increased by 70% during first half of 2016, compared to the same period in 2015

Like for like sales of Super Series cars increased by 19.3% in the first half 2016, compared to same period of 2015

Sports Series range, of which deliveries to customers started in March this year and includes the 570S Coupé, named ‘Best Premium Performance Coupé’ at Middle East Car of the Year Awards 2016, supporting success

McLaren Automotive has broadened the Sports Series range to include the 570GT, of which deliveries to customers will start in the third quarter of this year and is forecast to support the continuing strong retail sales performance in 2016

Management of the Latin America region to be transferred to Middle East & Africa region, effective 1 July

Results follow McLaren posting operational profit for the third consecutive year in only five years of building cars with record global sales of 1,654 cars in same year, expected to double in 2016

McLaren Automotive, the British manufacturer of luxury handcrafted sports and supercars has announced throughout the first half of 2016, their business in the Middle East and Africa region has increased sales by 70% compared to the same period of 2015, from the same number of retailers in the regional network.

Additionally, deliveries to customers of cars in the McLaren Super Series range which includes the 650S Coupé and Spider, along with the limited production 675LT models, improved in the first half of 2016 compared to the same period of 2015, by 19.3%.

This performance is a result of a continued focus by McLaren retail partners to meet customer expectations and also the introduction of a broader range of models offered, specifically within the Sports Series, which includes the 570S Coupé, voted the Middle East Car of the Year Awards 2016 ‘Best Performance Coupe’.

McLaren Automotive also forecasts further success for the remainder of 2016 due to the introduction of the 570GT, which is the third model to be launched in the Sports Series range and is the most luxurious and refined of any McLaren to date.

Such strong performance in light of market conditions sees a strategic change to regional operations in which the McLaren Automotive Middle East and Africa regional office, based in Bahrain, will expand its responsibilities to also oversee company operations in Latin America. The  decision is a result of the strong brand management which has delivered 2016 performance to date in the Middle East, which is akin to Latin America in that both are highly competitive markets which offer significant growth opportunities, and also have a similar dynamic nature.

The change of management will also ensure support to deliver Track22, the business plan which represents investment of over £1 billon in the next 6 years.  Andreas Bareis, current Managing Director of McLaren Automotive Middle East & Africa also assumed responsibility for Latin America from 1 July.

Andreas Bareis, Managing Director of McLaren Automotive Middle East, Africa and Latin America, said of the region’s results:‘The first half of 2016 has shown McLaren has a bright future, especially in the Middle East and Africa region. The launch of the Sports Series has opened McLaren up to an entirely new audience and has been pivotal in developing our sales volumes from the 2015 levels, whilst retaining the same retailer network base.  With the first customer deliveries of the 570GT taking place in the near future we can look forward to another strong sales performance for the rest of the year. I am also delighted to have taken over responsibility for Latin America, an exciting region in which we plan to grow our footprint in the coming years and it is an indication of the region’s strategic importance to merge management with that of the Middle East.  We are sure McLaren fans will be thrilled with all that is to come in the next 6 years as a result of our recently launched Track22 plan.

Bareis Continued: ‘However our immediate focus in Latin America is on deliveries of the McLaren 570S to customers. We believe this car, the first in our Sports Series range, is a sports car suited to support the sales growth which we know we can achieve as we enhance our retail network throughout this region. 

McLAREN AUTOMOTIVE 2015 FINANCIAL RESULTS

McLaren Automotive recently 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.

TRACK22 POINTS TO 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 £1 billion 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. 

 

 

 

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%