McLaren Automotive to enter PH market

MANILA: British luxury, high-end sports car maker McLaren Automotive is set to expand its operations in Asia, Philippines included as the company moves towards a potential public offering.

Come to think of it, McLaren is lagging behind other British automakers as they are the only UK car brand who has yet to have a presence in the country. All the top brands including Bentley, Jaguar, and Rolls-Royce have dealerships in the Philippines.

McLaren CEO Mike Flewitt announced in a meeting with reporters in Detroit that "we need to put more cars into Asia," amidst sluggish sales in their home turf, UK being one of McLaren’s largest market. The drop may have something to do with the Brexit conundrum. However, Demand for McLaren cars remains robust in the US and other Asian markets.

Besides the Philippines, McLaren is also set to open dealerships in Vietnam, with “the next big ones are India and Russia. We’re not in either and probably should be” according to Flewitt.

The move to expand operations in Asia is part of a growth strategy in preparation for an initial public offering by 2025 which McLaren owners are seriously contemplating on.

Considering an IPO will allow the company to inject more cash into its operations which is critical as automobile manufacturers move towards hybrid and electrification which requires a lot of research and development (R&D).

McLaren has not given any specific date as to when they will officially start operations in the Philippines but as early as 2016, the company has already been in talks with three prospective local car distributors for exclusive distributorship deals.

What is certain though is that McLaren will unveil a new hybrid with a new architecture under the skin. The company also adds that it has no plans to delve into the SUV market (which is a huge segment for Filipino car buyers) saying that it does not fit the McLaren brand and simply because “we couldn’t afford to do it.”

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