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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 previews 650S track special

Earlier this month, McLaren promised it would bring the production-ready P1 GTR track special to the Geneva Motor Show this coming March, and within days we started hearing rumors that it was preparing to give the 650S a similar treatment. Now Woking has released this teaser image that appears to show just such a creation. Based on the existing 650S (which itself is a further evolution of the MP4-12C that put McLaren Automotive back on the map) the new track version is tipped to be called either the 650 GTR (like its big brother) or the 675 LT – the number indicating a 25-horsepower spike in output and the letters standing for Long Tail in reference to the similarly extended F1 GTR that conquered Le Mans in the 1990s. Look closely at the camo in the second teaser shot and that racer is exactly what you'll see is making up the pattern – specifically the #41 Gulf/Davidoff example, if our eyes do not deceive us. The previous 12C bred a track version called the Can-Am edition as well as the less extreme 12C GT Sprint. The latter has already been replaced by the 650S Sprint, but as we projected back in April, the Can-Am was ripe for a successor as well. Just what name and form it takes – and whether it will be bound exclusively to the circuit or certified for the road – we'll be finding out within the next month or two, so watch this space. Featured Gallery McLaren 650S track special teasers News Source: McLaren Spy Photos Geneva Motor Show McLaren Coupe Supercars mclaren 650s mclaren 675lt

BMW discussing supercar collaboration with McLaren

BMW is reportedly considering a new halo supercar. But rather than go it alone, word has it that the Bavarian automaker is discussing a potential partnership with McLaren to make the idea a reality. This according to Britain's Car magazine, which suggests that negotiations are well underway. The proposal would see the BMW supercar based on the same architecture that will to underpin Woking's P16 project that's set to replace current 650S. Rather than use the 3.8-liter twin-turbo V8 that McLaren developed together with Ricardo, the Bimmer version would use Munich's own engine: a 4.0-liter V8 with quad turbochargers – two conventional spools and two more electrically driven chargers. Their combined effect would net an expected 750 horsepower. Further differentiations on McLaren's carbon monocoque architecture for use in the BMW would include custom bodywork, aerodynamics, and interior fitments to include a unique instrument panel. Production, however, would be handled at the McLaren Production Centre in Woking, to the tune of several hundred units per year. The project would take the place of several aborted programs undertaken internally at BMW. One called for an entirely unique supercar developed in-house, referred to internally as the M100. When that project was aborted so that BMW could concentrate on the i sub-brand, BMW's own skunkworks shifted its focus to developing a more performance-focused version of the i8, known by some as the i8 CSi. When that project was canned as well, discussions with McLaren commenced. It wouldn't be the first time BMW would outsource development of its own supercar, or even the first time BMW would collaborate with McLaren on such a project. Initial development work on the original M1 in the 1970s was undertaken by Lamborghini before being taken in-house. And, of course, BMW provided the engine for the legendary McLaren F1. Meanwhile McLaren performed a similar function for Mercedes-Benz with the SLR, demonstrating Woking's experience in building flagship supercars for German automakers. This latest project could suffer the same fate as the M100 and i8 CSi programs. But if it is approved, it could yield both coupe and convertible versions, with the first slated to surface at the Frankfurt Motor Show in 2017 and reach dealerships in 2019.