McLaren is going to expand its dealer network in AsiaDecember 7, 2019
A sports car manufacturer wants to increase its revenue and increase the perceived value of shares before entering the free market. For this, brand managers are considering the development of a dealer network in the east.
Sales of new McLaren continue to fall in the home market. Moreover, the native country is the largest market of the company. Demand is declining due to uncertainty with Brexit. Although sales in other countries are still at a good level. Nevertheless, active work on market development in Vietnam and the Philippines may soon begin.
“We need to sell more cars in Asia,” said McLaren CEO Mike Flewitt earlier this week.
Recall that McLaren wants to enter the open stock market. But this is a risky step. For example, Aston Martin lost up to 59% of the value of shares with a similar decision, although the Italian brand Ferrari, on the contrary, increased its value by 68%.
But Flewitt also added that there would be no public access to stocks until all McLaren automobile, racing and technology companies started making money. In addition, McLaren will not release a crossover for quick money – “it will negatively affect the image of the company,” added the head of the brand.
Last year, McLaren sold less than 5,000 cars (approximately 4,800), but in the next five years, production capacity will increase to 6,000 sports cars per year. The Woking plant in Surrey will be upgraded to increase capacity.
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