McLaren looks to Asia and hybrid cars to stay on track [Reuters]
Ferrari N.V. Common Shares (RACE)
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Source: Reuters
McLaren looks to Asia and hybrid cars to stay on track DETROIT (Reuters) - British exotic sports car maker McLaren Automotive will bank on expanded sales in Asia and a new generation of hybrid cars as it steers toward a potential public offering, the company’s chief executive said on Tuesday. “We need to put more cars into Asia,” McLaren CEO Mike Flewitt said in a meeting with reporters in Detroit. Sales of McLaren’s carbon fiber and aluminum sports cars, which start at about $200,000 in the United States, have fallen in the United Kingdom, its largest market. Flewitt said that reflects uncertainty over Brexit. Demand in the United States and in Asian markets outside of China remains strong, he said. McLaren plans to open dealerships in Vietnam and the Philippines, Flewitt said. “The next big ones are India and Russia. We’re not in either and probably should be.” Flewitt has said in the past that the owners of the McLaren Group, led by Bahrain’s sovereign wealth fund, are considering
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