McLaren For Sale – Cars From Its Heritage Collection to Fund Artura Project

Whether it’s churning out high-powered, well-engineered supercars or racing to the top of Formula One, McLaren makes some seriously awesome machines. But even that hasn’t been enough to keep the Woking, England-based brand from a few financial hiccups in recent years. After pausing production and slashing 1200 jobs in 2020, McLaren’s main shareholder, Bahrain’s sovereign wealth fund Mumtalakat Holding Co., stepped in with an infusion of cash to help save the company from ruin.

That infusion didn’t just help McLaren avoid liquidation, it also gave the carmaker a shot in the arm to move forward with its ambitious plan for a new hybrid supercar called Artura. That vehicle will be McLaren’s first street-car to be developed without crucial systems supplied by outside manufacturers, like the BMW-sourced V-8 used in its predecessors, the F1 and the jointly developed Mercedes SLR McLaren.

In a nod to this, the company is selling cars from its vast heritage collection in order to raise funds for the Artura project. As per the company’s 2021 annual report, McLaren has already sold “certain vehicles from its heritage collection to support the development of the upcoming McLaren Artura,” though it hasn’t disclosed how many cars were sold or what was included in the sale.

While the sale of a McLaren F1 at last year’s Pebble Beach auction proved that collectors still want to buy seven-figure vehicles, it was an indication that McLaren wasn’t yet able to sell enough of its newest, most technologically advanced cars to cover its overheads. And this is a problem that hasn’t disappeared during the COVID-19 pandemic.

To remedy the issue, McLaren has decided to sell some of its historic cars through its network of 35 retail outlets across 19 countries. Five of those retailers will be located in the United States, with Miller Motorcars of Greenwich, Conn., the Auto Gallery in Beverly Hills; Lake Forest Sportscars in Chicago; Park Place dealerships in Dallas; and the Price Family Dealerships of Palo Alto, Calif. McLaren doesn’t think there’s a conflict of interest since the retailers don’t also sell Ferraris and Lamborghinis, the brands that would compete with its new 720S replacement, the 570S.

As an incentive to buyers, some of those dealers are sweetening the deal by sprinkling in some extra luxury as a way to entice homeowners to close escrow before April Fool’s Day. O’Gara Coach in Beverly Hills, for example, is offering the buyer of a $16.5 million home the choice of an Aston Martin Vantage or Bentley Bentayga EWB if they close escrow on their home before the end of the month. It’s a play on words, of course, as the offer is purely an April Fool’s joke. But even so, the gesture is a sign of how desperate things have gotten for McLaren. mclaren for sale

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