McLaren is breaking even before the planned expansion image

As it strives to more than double its annual sales, the British supercar manufacturer will break even this year ahead of the planned expansion drive into Asia and higher-volume segments.

The carmaker quadrupled its sales last year and is betting on Chinese demand to spearhead an increase in sales to 4,000 by mid-decade. McLaren Automotive, part of a group that includes the storied McLaren Formula 1 racing team, will launch a less expensive sports car in 2015, its chief executive said, and two new models each year from 2016.

“I expect about 1,500 [sales] this year and next year, and then after we get P13, around 4,000 cars,” said Mike Flewitt, referring to the new, lower-cost model in development.

“I wouldn’t be surprised if we end up with more than a third [of sales] in Asia,” the chief executive said in an interview. “I wouldn’t be surprised if it was 40, 20, 40” he said, referring to sales percentages in North America, Europe and Asia in the medium-term.

McLaren’s earnings before interest, taxation, amortisation and deprecation was just over £7m in 2012, against a loss of £53m in 2011, thanks to an almost 300% increase in revenue to £266m.

McLaren is now spending £70 million a year on research and development to bring out new models. The P13 will cost roughly two-thirds the price of its MP4-12C – roughly £110,000 – Mr Flewitt said.

Via Financial Times