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After an already record year in 2021, Bentley is starting the year in style. The British luxury car manufacturer has just announced a 41% increase in turnover to 813 million euros in the first quarter, and an explosion in profits (before interest and tax) of 162% to 170 million euros.
However, this performance is not linked to an increase in volumes. Bentley sold 5% fewer vehicles than last year, or 3,203 vehicles.
But the British subsidiary of the Volkswagen group has been able to significantly increase its margin, with an average income per car rising from 184,000 euros to 212,000 euros. This trend is not unique to the company, as the average margin for the 16 largest automotive groups reached an all-time high of 8.5% of turnover.
The growing success of increasing customisation, via options, and of hybrid products has favoured this development. “The combined effect of these revenues with a restructured business model has enabled us to achieve good returns on investment,” said Adrian Hallmark, CEO of Bentley Motors.
Geographically, sales trends were very mixed. They jumped in Europe (+38%), in the United Kingdom (+30%) and in the Asia Pacific region (+19%). However, they fell in mainland China, Hong Kong and Macao (-29%), the Middle East (-38%) and America (-9%).
“Although the continued uncertain global economic situation is slightly impacting our sales, the growth in revenues, profits and cost containment is a clear indication that we are a resilient company,” commented Jan-Henrik Lafrentz. The member of the firm’s finance board said that conditions were favourable for achieving the brand’s ambitions of being carbon neutral by 2030. And this is thanks to its Beyond100 plan, in which it is injecting three billion euros.
Read also > AT BENTLEY AND ASTON MARTIN, 2021 MARKS THE YEAR OF ALL RECORDS
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After an already record year in 2021, Bentley is starting the year in style. The British luxury car manufacturer has just announced a 41% increase in turnover to 813 million euros in the first quarter, and an explosion in profits (before interest and tax) of 162% to 170 million euros.
However, this performance is not linked to an increase in volumes. Bentley sold 5% fewer vehicles than last year, or 3,203 vehicles.
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After an already record year in 2021, Bentley is starting the year in style. The British luxury car manufacturer has just announced a 41% increase in turnover to 813 million euros in the first quarter, and an explosion in profits (before interest and tax) of 162% to 170 million euros.
However, this performance is not linked to an increase in volumes. Bentley sold 5% fewer vehicles than last year, or 3,203 vehicles.
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