Bentley momentum continues with record first quarter performance

Luxury car maker, Bentley Motors, achieved record first quarter results, with sales and profits surging.

The Crewe-based motor manufacturer said the figures represent its second best-ever quarter in history.

Operating profits of €216m were an increase of 27% on the same period last year. Overall revenues rose to €882m, up nine per cent from €813m a year ago.

The figures follow record yearly results in 2022, when operating profits of €708m were up nearly €1bn compared with 2018.

This unparalleled performance also represented an increase of €319m on 2021.

Return on sales in the first quarter climbed from 20.9 per cent in 2022, to 24.4 per cent. Much of this was due to continued strong interest in model customisation, higher specification derivatives and higher option uptake, including the sales of unique Mulliner Coachbuilt and Limited Edition models.

The first quarter figures also reflect strong performance in global sales, which increased by 10% to 3,517 exceptional cars.

The Americas reported a 39% rise over the same period in 2022, with a total of 1,157 vehicles, while Asia Pacific (+11%) and Middle East (+66%) also reported positive results.

The latest global figures and demand for new models provide Bentley with self-funding for its ground-breaking Beyond100 strategy, to lead sustainable luxury mobility in the future.

That includes a €3bn investment in its Crewe factory, as well as launching five new BEV models in just five years, starting in 2026.

Adrian Hallmark, chairman and CEO, said: “Despite a challenging global environment, we started 2023 where we left off in 2022, with another solid set of financial figures, driving growth in revenue, operating profit and return on sales.

“Bentley’s record performance in the Americas is also especially notable, with one in three of our luxury cars now sold in the region. The introduction of the Bentayga EWB, plus the success of the Flying Spur sedan, have been key to this growth.”

He added: “Looking ahead, although our well-balanced distribution model shows signs of encouragement that this success can be continued, we remain cautious about global challenges that remain in the markets.”