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McLaren posts weak financials, sold just 307 cars in three months

LONDON — McLaren saw group revenues reverse from 284 million pounds ($348 million) to 109 million ($134 million) in the first quarter of 2020 due to the COVID-19 pandemic, results on Thursday showed. The sports car maker also reported a plunge in car sales to 307 units over the three months, compared to 953 in the same period last year, with dealerships closed and factory production halted. It said second quarter figures were expected to be in line with Q1 but saw a stronger performance in the second half and also detected the first signs of recovery during May, particularly from China due to relaxed restrictions. The group — which is made up of the automotive, racing and applied divisions — saw its pre-tax loss balloon to 133 million pounds ($163 million) from a previous 18 million pounds. The Woking-based company said McLaren Group was "looking at a number of potential financing alternatives, secured and unsecured, of up to 275 million pounds equivalent to strengthen its liquidity position." The figures provide a backdrop to the layoffs and restructuring announced on Tuesday, with more than a quarter of the 4,000-strong workforce to be laid off. The Formula One team, which finished fourth last year, is expected to shed 70 of its 800+ employees although it said this mainly reflects the need to meet Formula One's $145 million budget cap to be introduced next year. McLaren said revenues of its racing division were 4.4 million pounds down on first quarter 2019 due to the reduced prize fund resulting from the Formula One season not starting. That was partially offset by 4.1 million pounds of increased sponsorship, however. Formula One expects to start racing in July, with plans to complete a reduced season of 15-18 grands prix compared to the 22 originally scheduled.   Earnings/Financials Hirings/Firings/Layoffs McLaren Performance

McLaren Artura hybrid supercar delayed until second half of 2022

The new hybrid McLaren Artura is officially delayed. A report from Automotive News broke the news on the electrified supercar. When McLaren officially revealed the Artura, it promised that deliveries would begin in the third quarter of 2021. The third quarter of this year has long since gone, and we’re about to head into 2022, and there are still no Artura deliveries taking place. The new target date for initial deliveries is set for July 2022.  Automotive News heard confirmation of the delay from a McLaren spokesperson. "We held on longer than everybody else in terms of stopping production, but unfortunately, our semiconductor supply dried up," the spokesperson said. "That made us have to reduce production across the board." So, thereÂ’s your reason for the delay, too. McLaren is blaming the chip shortage that is currently plaguing the entire automotive industry. ItÂ’s unfortunate, because McLaren could certainly use the new Artura to freshen up its lineup. Automotive News reports that McLaren originally meant the Artura to make up 40% of its deliveries in 2022. With the delay until July next year, thatÂ’s going to be a difficult number to approach. In case you needed a reminder, the Artura is a totally new McLaren from the ground up, as itÂ’s sporting a new platform, new twin-turbo V6 engine and a plug-in hybrid electric system for purely electric motoring — 19 miles with a full battery pack. The engine and electric motor combined produce 671 horsepower and 531 pound-feet of torque, sending it to 60 mph in just 3.0 seconds. Base price for the Artura is $225,000. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

McLaren Special Ops to showcase custom 570S at Pebble Beach

McLaren will be returning to Pebble Beach this summer to showcase the customization options it offers through its Special Operations division. Though it will exhibit an array of models from its range of supercars, the focus this year will be on the 570S that kicks off the company's new entry-level Sports Series. And it'll be highlighted by the example you see here. This particular 570S coupe has been decked out by MSO in a special Mauvine Blue paint with coordinating interior treatment in black leather. It'll be joined by a second 570S in Ventura Orange with options selected from the MSO Defined catalog. The pair of Sports Series models will give prospective buyers – of which we don't doubt there'll be more than a few in Monterey this month – a couple of ideas as to how they might specify their own. Rounding out Woking's presence at the concours will be a pair of limited-edition models from the next-step-up Super Series. There'll be a 650S Le Mans edition in Sarthe Grey and a 675LT, but neither will be available for sale as McLaren has already sold out the entire production runs of both, limited to 50 and 500 examples, respectively. To highlight its heritage, the company will also be showcasing a 1996 McLaren F1 GTR – specifically #17R in star-spangled FINA livery – on loan from BMW North America. Collectors looking to take something tasty home with them will also want to check out the concurrent RM Sotheby's sale, where a Volcano Red P1 will be offered alongside a '98 F1 with LM upgrades. Related Video: McLAREN SPECIAL OPERATIONS RETURNS TO PEBBLE BEACH WITH ONE-OFF 570S Four years on from its global launch, McLaren Special Operations (MSO) will return to the manicured lawns of the USA's famous Pebble Beach Concours d'Elegance later this month with a selection of distinctive and beautiful commissions. The bespoke division of McLaren will showcase some of the individualisation options it will make available on the forthcoming new 570S Coupe, the first model to join the McLaren Sports Series. Two examples have been created. The first 570S Coupe 'by MSO' features the uniquely formulated Mauvine Blue paint finish coupled with a bespoke interior finished in Carbon Black leather with co-ordinating detailing, carried through from the exterior colour. A second 570S Coupe, finished in Ventura Orange and fitted with a selection of styling details from the MSO Defined range of options, will take up position on the popular Concept Lawn at the event.