Yes ok the automobile industry is not going through its best moment After the consequences of Covid, Brexit and the shortage of components, there are brands that are going through an even more complicated situation. This is the case of McLaren, since the British firm is not going through its best moment as a car manufacturerhaving on hand a key launch for his future such as Artura, but carrying out quite striking movements such as the sale of important assets of the brand with the sole purpose of obtaining liquidity.
In recent months we have seen McLaren maintain conversations with groups such as BMW or Volkswagen for the sale of all or part of their divisions, as well as selling its headquarters in Woking or selling up to 60% of its shares to the Bahrain sovereign wealth fund Mumtalakat Holding. All this seeking to find a way out of a compromised economic situation where in the third quarter of this 2022 there are losses worth 247 million dollars.
The problem? McLaren needs not only to deal with this debt, but also new investments to get the new McLaren Artura onto the streets.. The car designed to bring the British firm to black numbers, had already delayed its launch due to logistical problems, however now the Artura will suffer a new delay due to the need to improve and polish the car after the failures detected in the first pre-series units.
We must remember that the McLaren Artura was originally unveiled in February 2021 and the first tests with clients and press occurred at the beginning of this summer. However, the car was not ready for series production and now McLaren has confirmed, through its latest results report (Q3 2022), that its arrival on the streets will have to be postponed again.
To deal with this situation, McLaren has decided to sell some of its historic cars to the Mumtalakat fund.a move that the firm itself has acknowledged having made previously, getting in exchange an additional capital injection of 123 million dollars. But we are not talking about just any car, since this batch includes some of the most important and sought-after parts of the brand, well The sale of 54 Formula 1 single-seaters and some units of the McLaren F1 has been confirmed.
Definitely, McLaren’s financial situation is far from desirableand although the brand admits that it will still have to carry out new rounds of financing to be able to move forward with its plans, the launch of the Artura is the key piece for McLaren to have a future.
Font: AutomotiveNews
