Bentley sales peak, with warnings of more difficult trading conditions
Luxury car maker, Bentley Motors, reported its second best interim sales performance on record, today.
The Crewe-based manufacturer announced revenues of €1.681bn in the first six months of 2023, slightly down from the previous year’s €1.707bn level, while operating profits of €390m were two per cent down on last year’s €398m figure.
Sales in its biggest market, the USA, which provides 29% of total turnover, were stagnant. Revenues in the Chinese mainland, Hong Kong and Macau were seven per cent down, Europe saw a 12% decrease and the UK a 13% decrease, but in the Middle East sales rose by 11%, and by five per cent in the Asia Pacific region.
And the business cautioned of more difficult trading conditions to follow.
Chairman and CEO, Adrian Hallmark, said: “The positive results for the first six months are largely a reflection of a consistent order bank amassed over the previous months and years and although our current order run rate is good, it is slightly down on the highs we reached in some of our key markets last year.
“We expect challenging conditions in the second half of the year and so will monitor our supply and stock levels accordingly to ensure our quality of sales is maintained, and adjusted, if we so need as the year continues.”
From the half year deliveries of 7,096 cars, the best selling Bentayga luxury SUV claimed 44% of total sales, with the latest Flying Spur sedan accounting for 24%, and the Continental GT and GTC Grand Tourers recording 32%.
Despite warnings of challenging conditions ahead, Bentley said its commitment to the marque’s industry-leading Beyond100 strategy continues.
This includes a transformation from a W12 and V8-centred product portfolio to fully electric within a decade, and in parallel a fully carbon neutral organisation.
This as part of a €3bn, 10-year investment programme in future models and at the Pyms Lane factory in Crewe, where all Bentley models are built.
