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How McLaren will double its output this year

McLaren Automotive is aiming to almost double its output this year, to 3,000 cars, and hit 4,000 cars per year by 2017. That's over 50 percent of Ferrari's annual production, yet the current McLaren Automotive is only six years old, based about 40 miles southwest of London in Woking. In pursuance of its lofty plans, McLaren recently announced a massive expansion its operations and is hiring another 250 assembly staff for a second shift, which will bring its total headcount to 1,750. Is it chutzpah, or rank stupidity? McLaren made just 1,654 cars last year, including the last of the 570-strong run of P1 supercars, which had an average transaction price of $1.35 million each, and all 40 or so track-only P1 GTRs, which sold for over $288 million. January saw the last P1 GTRs running down the track at Woking. Is it chutzpah, or rank stupidity? And while these cars cannot have been cheap to design and build, it's not hard to see how profitable they will have been. Given that much of the research and development (R&D) will have been amortized in the years up to the 2013 launch of the P1, the profit level has soared in subsequent years. In 2014, its second year of profit and under the leadership of chief executive Mike Flewitt, McLaren Automotive generated a profit before tax of $21.7 million, compared to $6.53 million in 2013. Turnover grew from $413.6 million in 2013 to $688.9 million in 2014. To be fair, the company is investing almost 20 percent of that turnover in R&D ($132.9 million in 2014, $97 million in 2013) and it says that level of spend as a proportion of turnover will continue, with last year's R&D cost estimated at $173.7 million. View 22 Photos In its defense, McLaren says that as a late comer it is still growing in China, which Flewitt has said could well be McLaren's second largest market in 2016 after the US and ahead of the UK and Germany. He also says that the company's growth plans are based on actual orders rather than theoretical expectations, and that since it is (and has been) profitable at 1,500 cars per year, there is some protection against a downturn. But the cars it has to sell this year are a far cry from the exotic and phantasmagorical P1 or the P1 GTR, which were only sold to existing P1 owners. The Sports Series, while being based on shared carbon-fiber tub and the same Ricardo-built 3.8-liter twin-turbo V8 engine and seven-speed twin-clutch transmission, is a much cheaper car.

U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.

McLaren F1 Crashes, Flips In Italy During Race

Friends, this is why we can't have nice things. A McLaren F1 was flipped down an embankment in Italy yesterday, and this video of the crash's aftermath is about as sad as when Old Yeller was shot. According to Italy's La Nazione, this one-off, red-on-white F1 was crashed during a four-F1 tour between the towns of Saline di Volterra and Pomarance in the province of Pisa. It's unclear what caused the driver to lose control and invert our British hero on a grassy hill, although as this is a McLaren F1, we wouldn't be remotely surprised if speed ended up being a factor. YouTuber Marchettino, an Autoblog reader and well-known source of videos from Ferrari's Fiorano test track, was on the scene to capture the video available below. The footage shows the McLaren accelerating away, only to cut away to the aftermath of the wreck. Emergency personnel were tasked with righting the stricken hypercar, a process that was accompanied by the cringe-worthy cracking of its Peter Stevens-designed bodywork. At least they had the decency to cover the crumpled Brit with its fitted black cover as they loaded it onto a flatbed, a fitting yet somehow disturbing visual. According to reports, the driver and passenger were airlifted from the scene with non-lethal injuries, and both are recovering in a hospital. Given the rising worth and rarity of F1s, despite the extensive damage in evidence, we reckon that this won't be the last the world sees of this special car. Take a look below to view the video. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: La Nazione, Marchettino via YouTube, Jalopnik McLaren Coupe Performance Classics Videos