P1 Supercar Club – the return

The P1 Supercar Club is relaunching this Autumn

The P1 Supercar Club has risen Phoenix-like from the ashes of administration and is relaunching under the leadership of original co-founder Michael Breen.

The ‘Economy’ was the reason the P1 Supecar Club – Britain’s first Supercar Club – found itself in administration earlier this year. Founded by Damon Hill and Michael Breen, P1 offered a stunning selection of Supercars for the use of its members, which numbered 240 at the peak.

Sadly for P1, anything up to £15k a year to be able to go play at Supercar owner whenever you fancy definitely comes under the heading of ‘Discretionary’ spending when things get tight. And with £100k a month in car payments – and not enough money coming in from the dwindling member numbers – P1’s banks pulled the plug.

Now co-founder Breen has bought back the remnants of the P1 Club from the administrators and is relaunching the business. There will be a new bottom tier of membership costing £9,250 with other options rising to £14,250 for the top-end package. All the packages give members ‘Points’ which can be redeemed against the drive of their choice. And there’s some meaty stuff on offer including Aston Martin DBS, Nissan GT-R and Ferrari F430 Spyder.

So can P1 succeed with the new setup, or are they on a hiding to nothing? Breen says the setup is different, with P1 owning a selection of the very high end motors – including the on-order McLaren MP4-12C and 458 Italia – but renting-in a lot of the other stuff. That should help keep in check fixed car payments. Breen says they already have 50 members and old P1 members can redeem any unused points they had when the business went down if they rejoin.

If you have a few hundred quid a week to throw at cars the P1 Club offers a sane solution for a supercar fix without the huge costs involved with actual ownership, so the logic is certainly still there. Are there enough petrol-heads willing and able to pay the membership? I suppose time will tell.

But we wish P1 every success.