McLaren reports bumper demand for its super-cars hours after Tesla said it's electric models fell

McLaren has reported bumper demand for its super-cars – hours after Tesla said sales of its electric models are falling.

The British manufacturer, famous for its Formula One racing team, sold 4,829 cars last year, a 45 per cent rise compared to 2017.

Strong appetite in China, where sales volumes rocketed by 141 per cent to 354 cars, helped the Woking-based company achieve a 44.3 per cent rise in revenue to £1.3billion.
But Tesla, the US electric car maker, revealed it had swung back to a loss of £544million in the first quarter of the year.
Elon Musk admitted he may have to tap investors for more cash after burning through more than £1billion over the three-month period.

Kames Capital’s bonds analyst David McFadyen said he would rather back 56-year-old McLaren than the trendy American newcomer.

He said: ‘McLaren is a company delivering a niche, highly desirable product. We know which company we’d rather lend to.’





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