News Details

McLaren suffers massive £173m quarterly revenue drop

The McLaren Group's revenues took a massive £175m hit in the first quarter of 2020 relative to 2019 mainly as a result of the coronavirus crisis. The COVID-19 pandemic wreaked havoc on the manufacturer's sales as dealerships were temporarily closed and its automotive production was idled. Revenues of the company's McLaren Racing subsidiary fell in the first three months of the year by £4.4m compared to the same period in 2019, with the team recording no prize money in Q1. However, sponsorship revenue was on the rise by £4.1m. McLaren: Regulation changes ultimately "a win for fans" McLaren's quarterly numbers were published just a day after the group announced the lay off of...
Full Story »
4y ago from F1i.com 0
Share

You May Also Be Interested In...

McLaren Group reveals 61 per cent revenue reduction

McLaren Group has posted a substantial year-on-year reduction in revenue...
4y ago from MotorsportWeek.com

McLaren Group records £175million revenue drop

The McLaren Group has posted a revenue loss of £175million for the first...
4y ago from GPFans.com

McLaren Group record £175m loss in revenue

McLaren's financial struggles have been reflected in their Q1 financial...
4y ago from PlanetF1.com

McLaren cutting 1,200 jobs

In the 'not good news' file this morning, McLaren is cutting over a...
4y ago from TheParcFerme.com

Elsewhere On The Network

Popular On MGPToday.com

Jorge Martin vs Francesco Bagnaia: MotoGP title...

The 2024 season finale awaits as Jorge Martin holds a 24-point lead over...

Popular On IndyCarToday.com

AJ Foyt technical director Michael Cannon leaves team

Michael Cannon, AJ Foyt Racing’s revered engineer and technical...
23h ago from MotorsportWeek.c...

Chip Ganassi Racing announces driver development...

Chip Ganassi Racing has launched a new driver development program, which...

Popular On TotalWRC.com

Popular On GunnersToday.com

Liverpool ready to hijack long-term Arsenal target...

Liverpool have identified Ajax defender Jorrel Hato as a top target for...
1h ago from CaughtOffside.com

New injury: key Arsenal starter has knee procedure...

Arsenal have been handed a fresh injury blow as Ben White has undergone a...
1h ago from CaughtOffside.com

Arsenal games Ben White could miss as 27-year-old...

Arsenal defender Ben White reportedly undergoes an operation to resolve a...
42m ago from SportsMole.co.uk

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.