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McLaren Rules Out Making SUVs to Focus on Sports Cars

A McLaren P1 automobile, produced by McLaren Automotive Ltd., is seen on the company's stand ahead of the opening day of the 83rd Geneva International Motor Show in Geneva, Switzerland. Photographer: Valentin Flauraud/Bloomberg
A McLaren P1 automobile, produced by McLaren Automotive Ltd., is seen on the company's stand ahead of the opening day of the 83rd Geneva International Motor Show in Geneva, Switzerland. Photographer: Valentin Flauraud/Bloomberg

April 18 (Bloomberg) -- McLaren Automotive Ltd., the automaker famed for its Formula One racing team, said it will stick to building sports cars and ruled out producing sport-utility vehicles.

“We genuinely believe we make the best sports cars in the world,” Mike Flewitt, chief executive officer of McLaren, said in an interview in Shanghai yesterday. “We need to remain very focused. McLaren is a sports car brand and that’s exactly what we’re going to remain.”

McLaren’s pledge follows plans by Lamborghini SpA to start building its first SUV model in three years. Other luxury brands including Volkswagen AG’s Bentley and Porsche are also adding SUVs to their line-ups as the models’ roomier interiors attract buyers in China and the U.S.

Woking, U.K.-based McLaren will introduce one new model a year to boost growth and set a price floor of $177,000 for its cars, or two-thirds the price of its latest model, the 650S, Flewitt said. The company plans to sell about 4,000 vehicles annually by 2017, compared with about 1,400 in 2013 and a target of about 1,600 cars this year, he said.

To contact Bloomberg News staff for this story: Alexandra Ho in Shanghai at aho113@bloomberg.net

To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net Chua Kong Ho, Terje Langeland

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