MCLAREN LEAVES TESLA IN ITS TRACKS
MCLAREN has reported bumper demand for its super-cars – hours after Tesla said sales of its electric models are falling.
The British manufacturer, famous for its Formula One racing team, sold 4,829 cars last year, a 45pc rise compared to 2017.
Strong appetite in China, where sales volumes rocketed by 141pc to 354 cars, helped the Woking-based company achieve a 44.3pc rise in revenue to £1.3bn.
But Tesla, the US electric car maker, revealed it had swung back to a loss of £544m in the first quarter of the year. Elon Musk admitted he may have to tap investors for more cash after burning through more than £1bn over the three-month period.
Kames Capital’s bonds analyst David McFadyen said he would rather back 56-year-old McLaren than the trendy American newcomer.
He said: ‘McLaren is a company delivering a niche, highly desirable product. We know which company we’d rather lend to.’