Cambridgeshire-based Radical Sportscars is a world leader in the production and exporting of its own design and manufactured racing cars and track cars, which are sold to markets around the world via 32 franchised dealer partners. Although the Covid-19 pandemic has proven a significant challenge for the business, 2020 brought significant success for Radical and saw it double its order book. Speaking to CEO Today, Radical Sportscars chief executive Joe Anwyll looks back over the previous year and discusses the innovation that has gone on behind the scenes to give rise to such success.
As much as the health crisis may have affected the UK and Europe heavily, many private racing clubs in other parts of the world were able to continue with their operations during Covid, meaning that the demand for new cars remained intact. At the start of the pandemic and still to this day, Radical exports 93 per cent of its cars, and Anwyll explained that this made all the difference in sustaining income streams.
He told CEO Today: “Radical was largely able to continue without experience the negative impact that hit other manufacturing industries in Europe. The workforce at Radical supported the business throughout and it is with their help that we not only survived but managed to launch two new cars in 2021.
“Today, despite the pandemic and its challenges, our order book extends out over several months and our monthly output has more than doubled!”
A significant part of Radical’s in-house innovation during the crisis came with the launch of the iRacing platform over the first Covid-19 lockdown, which allowed race car drivers to immerse themselves in a lifelike racing experience from the safety of their own home.
Anwyll recalled: “In April 2020, the lockdown forced us to think outside of the box. Online sim racing was already part of our future strategy, and we were able to move quickly and set up a series that allowed our customers to indulge in their passion for racing during lockdown.”
In doing so, it opened a whole new world of business opportunities for Radical to pursue, with the potential to reach millions of people.
“This experience revealed a new world to Radical and one that was jaw-dropping! The sim racing affords drivers a real, totally immersive experience, all in the safety of their home. There are many levels of racers - from simulators to gamers.
“The number of people engaged on these platforms is measured in multi-millions, with professional teams winning substantial prizes through to gamers who buy a virtual car for pocket money.”
Despite Radical’s success over a troubling 12 months for the business world, the last year has not come without its lessons for Anwyll and his senior leadership team. When asked about what lessons he had taken away from the pandemic, he candidly admitted that the experience had reminded him of the need for calm as a leader when guiding a business or organisation through troubled waters.
Anwyll explained: “I am used to handling crises and one lesson you learn quickly is not to panic, to think things through, draw out the possibilities and then provide clear objectives and strong leadership so the team can react and take a clear lead on the way forward.”
Anwyll also believes that the pandemic’s amplifying of mental health issues and the work-life balance are positive lessons that society should take forward in the post-Covid world and use to implement positive change.
“The pandemic has accelerated many aspects of working that are positive, particularly people’s work-life balance. Online meetings are now routine and save huge amounts of time, however, the ability to influence and take tough decisions online is a skill that needs to be developed.”
When asked about Radical’s plans to build on a tough but successful year, Anwyll revealed that he was eyeing up even greater expansion for the company, taking the Radical brand to new regions and new audiences while providing further opportunity for those people working within the business to develop and flourish.
“What is not to like about sportscars? The cars are exciting, and our customers are a brilliant, eclectic mix of passionate racers who enjoy their sport to the full in some of the most beautiful parts of the world. Our team is young, with 30 being the average age, and they all have an amazing potential to develop their skills. The investment in the company we made last year has positioned us for the next three years when we plan to develop the Radical brand to reach an audience not currently engaged or perhaps unaware of the Radical cars and experiences.
“Our dealer partners are the jewels in Radical’s crown, and the plan is to continue looking for new partners in locations where we currently have no presence - India, South America, and South Africa included.”
