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Old 25 Jun 2020, 12:12 (Ref:3983770)   #101
S griffin
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That’s a good point. Ferrari too prioritised his racing programme, especially F1, using road cars as a necessary evil to fund it. Maybe it is the same with McLaren and Ron Dennis. It would make a lot of sense
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Old 25 Jun 2020, 12:54 (Ref:3983779)   #102
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On another point, I read that a sale and leasback of the McLaren factory is one option being considered. Many struggling retailers and care home groups have tried this before, often they are disasterous and end up with the business losing their key assets and gaining a liability, which can become unaffordable.
would agree with that - see many retail stores looking to renegotiate their leases with the landlords in hard times.

selling and renting it back is very much something that you only want to do if it's the last chance and you'd be unlikely to survive another downturn. if mclaren have got themselves in that position then borrowing money is going to be expensive for them as well. i'm sure we all know that the key to having a business that'll survive the ups and downs is keeping overheads as low as possible without impacting the actual business. outside f1, the teams in the best shape as we come out of lockdown are the ones who run out of tiny unremarkable sheds and premises that they own rather than rent.

same goes for personal finance which is why the mass switch to leasing cars blows my mind. but that's another rant for another day
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Old 25 Jun 2020, 15:41 (Ref:3983806)   #103
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Nothing wrong with mirroring the Ferrari model. And while Ferrari have figured it out, if you look at their entire history, they are not without their rough spots. It's a combo of hard work and also luck that allows you to survive.

I agree with comments by Moneyseeker and bella regarding selling and then leasing your facilities are actions of the desperate. If we are seeing execution of plan "C", what does plan "D" look like?

Richard
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Old 25 Jun 2020, 17:20 (Ref:3983813)   #104
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would agree with that - see many retail stores looking to renegotiate their leases with the landlords in hard times.

selling and renting it back is very much something that you only want to do if it's the last chance and you'd be unlikely to survive another downturn. if mclaren have got themselves in that position then borrowing money is going to be expensive for them as well. i'm sure we all know that the key to having a business that'll survive the ups and downs is keeping overheads as low as possible without impacting the actual business. outside f1, the teams in the best shape as we come out of lockdown are the ones who run out of tiny unremarkable sheds and premises that they own rather than rent.

same goes for personal finance which is why the mass switch to leasing cars blows my mind. but that's another rant for another day
I think there are a lot of businesses who have paid out hundreds of millions or even billions in dividends over the last few years, that probably wish they still had that money in the bank now. The old adage about a rainy day, was never more relevant (not talking about McLaren specifically) but I feel there are too many businesses that have work on constant projected growth rather than building cash reserves. Whereas the main tech giants have hundreds of billions in cash reserves and could buy more or less any busines they wanted.
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Old 25 Jun 2020, 17:26 (Ref:3983817)   #105
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Nothing wrong with mirroring the Ferrari model. And while Ferrari have figured it out, if you look at their entire history, they are not without their rough spots. It's a combo of hard work and also luck that allows you to survive.

I agree with comments by Moneyseeker and bella regarding selling and then leasing your facilities are actions of the desperate. If we are seeing execution of plan "C", what does plan "D" look like?

Richard
Agreed, there was a time when Ferrari dealers could barely give cars away and had forecourts full of them, back in the 80's one dealer I read was painting unsold cars in a more desirable colour to try and sell them.

Lamborghini is now selling 8,000 cars a year, the majority of which are the Ursus SUV, apparently and Porsche biggest seller is the Macan and if they can ever afford to build them, I imagine the Aston DBX will be a similar story.

Ferrari suv-esque model in the pipeline, I believe.
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Old 25 Jun 2020, 18:35 (Ref:3983831)   #106
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I have to type this or my brain will explode!

I still haven't got the SUV thing although I've ordered a Mach E and my tow car is a Grand Cherokee. It may be that car buyers are all old fat gits with dodgy knees. But today I saw a chap in his thirties backing out of his drive in one of those Peugout (spelling) 2008 thingies which I believe is also a SUV. So unless he has early onset arthritis he doesn't fit my model.

Thanks for reading, you've been a wonderful audience. Don't forget to try the veal and tip your waitress. We now return you to the topic
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Old 25 Jun 2020, 18:44 (Ref:3983834)   #107
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wouldn’t be seen dead in any kind of luxury sportscar personally but the big porsche things are pretty cheap second hand if you don’t mind them being built by an army of illiterate toddlers on red smarties.

got a family friend with one of those sporty upgrade jags, he’s had it a year or so and i still haven’t tired of taking the p!ss out of him for it. his excuse is that the carpets are lovely and it’s reliable aside from the 50 things he’s had to fix on it
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Old 29 Jun 2020, 12:06 (Ref:3984475)   #108
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It tells you something when McLaren have a Dallara in the lobby.
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Old 29 Jun 2020, 23:08 (Ref:3984571)   #109
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That you can’t build your own chassis in Indycar.

More telling that they bought the wrong bits for the qualifying attempt last year!
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