McLaren Automotive will post 2012 loss but is positive on future earnings
McLaren invested heavily in the P1 supercar, pictured at the Geneva show,
LONDON -- McLaren Automotive will be profitable next year after posting a pre-tax loss for the year ending March 31, Managing Director Mike Flewitt said.
Flewitt said McLaren Automotive will post a loss of between 10 million to 12 million pounds ($15 million to $18 million) for the 2012 financial year. He said this was "not too bad" because the company had invested heavily in new products and dealerships.
"We're actually slightly ahead of the plans we have for the business," Flewitt told Automotive News Europe. McLaren will make a small profit in 2013 and will stay profitable in subsequent years, Flewitt said.
The company unveiled the P1 hybrid supercar at the Geneva auto show earlier this month. The P1 is the company's third launch and costs 1.07 million euros. Just 375 units will be built.
McLaren, based in Surrey, England, launched the 12C supercar in 2010, costing 200,000 euros in Germany, followed by an open-topped version of the 12C. Last year, the company sold around 1,400 cars, a spokesman said.
In February McLaren Automotive posted delayed results for 2011, showing a pre-tax loss of 69 million pounds.
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