Bentley sales inch up by 3% in H1

MANILA: Bentley Motors reported outstanding financial results for the first half of 2022, despite ongoing global economic uncertainty. The company's operating profits reached €398 million, increasing 124% from the same period last year. The half-year figures are substantially better than Bentley's previous record year of 2021, which amounted to €389 million.

Turnover increased from €1.324 billion in the first half of 2021 to €1.707 billion. Revenue per car increased from €186,000 to €213,000, partly as a result of higher levels of personalization. Bentley now offers the most luxury vehicles costing above €200,000 or €250,000. Additionally, return on sales increased to a record 23.3% from 13.4% the previous year.

The Bentayga was the best-selling Bentley model, accounting for 40% of total sales, followed by the Flying Spur (27%) and the Continental GT (33%).

The launch of the Continental GT Speed contributed to an increase in Bentley sales of 33% in Europe and 44% in the UK year to date. Bentley's strongest market was the Americas, while China was affected by prolonged COVID-19 lockdowns. Globally, year-to-date sales climbed by 3% to 7,398 from 7,199 during the same period last year.

The figures support Bentley's ambitious Beyond100 strategy as the company reinvents its entire product line to adopt an electrified future and become carbon neutral by 2030. This involves a €3-billion, 10-year investment program in new products as well as at the Pyms Lane factory in Crewe, England, which produces every Bentley model.

In a statement, Bentley Motors Chairman and Chief Executive Officer Adrian Hallmark said, “Despite the continued global economic instability, it is promising to see Bentley is showing financial consistency as we reinvent the company in line with our Beyond100 strategy and form a basis to withstand further external shocks. In particular, a significant increase in demand and capitalization of our Mulliner personalization program has driven record return on sales, and continued global interest in the freshest model line in the luxury sector has resulted in record high revenues. I would like to thank our hard-working colleagues for their continued efforts, as Bentley continues its ground-breaking transformation towards an electrified future, financial independence and to be the leader in sustainable luxury mobility.”

“Bentley has continued to focus its efforts on building sustainable, long-term profitability. These results reflect a strong base pricing position, increased revenue through optionality and favorable foreign exchange rates,” Bentley Motors Board for Finance and IT Member Jan-Henrik Lafrentz stated. “In parallel, we continue to maintain our lower cost base which is leading to a restructured business model that is delivering strong returns on our investment and sales.”

Photos from Bentley Motors

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