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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...
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