What semiconductor shortage? Bentley posts record profits while other brands struggle with supply
Bentley has overnight touted its enviable financial position, posting its best third quarter profits yet, while also announcing increased sales in regions across the world.
The British marque, based in the town of Crewe in central England, has sold 11,316 cars in 2022 so far, having bested its sales in the first three quarters of the year last year by three per cent.
This comes after a ten-year, €3 billion investment in the Bentley Crewe factory and development of its upcoming products began.
The investment is showing signs of paying off – so far in 2022 the brand has announced a €575 million profit, which is already ahead of its record annual profit of €389 million. The same time last year had the brand at a €275 million year-to-date profit.
Overall revenue is up 28 per cent year-on-year from €1.949 billion in 2021, to €2.490 billion this year, which Bentley claims is due to the popularity of new model variants and the (more expensive) customisation options offered by its coachbuilding arm Bentley Mulliner.
Leading the sales charge for the brand is, unsurprisingly, the Bentley Bentayga SUV, claiming 40 per cent of sales for the year so far. Bentley has benefited from the same SUV success as other brands (like BMW, Porsche, and more recently Lamborghini) since the introduction of the Bentayga in 2015.
In addition, Bentley expects to see a strong finish to the year in terms of Bentayga popularity, thanks to the new Bentayga Extended Wheelbase (EWB), which so far makes up 40 per cent of Bentayga sales.
The next-most popular model for Bentley is the Continental, both coupe and convertible totalling 32 per cent of the brand’s sales, with the Flying Spur closely following at 27 per cent.
Across most of the world, sales for Bentley increased noticeably, though a significant 17 per cent drop in sales for China, Hong Kong, and Macau plus a 5 per cent drop across the Middle East, India, and Africa balance it out somewhat.
The region which saw the steepest percentage rise in sales for the brand was its home, the UK, where 1126 sales meant a 25 per cent increase over the 899 sales in the first three quarters of 2021.
The overall largest market for Bentley was the Americas (North and South) where 3154 cars were sold, 28 per cent of the brand’s total 2022 sales so far.
Chairman and CEO of Bentley Adrian Hallmark said “while Bentley continues to tackle the challenges it faces in the global market, this latest set of financial figures shows strong results in most regions”.
“The continued growth in revenue per car supports the options and limited edition models created by Bentley’s in-house coachbuilder Mulliner and the positive customer reception to our increasing range of model derivatives. Furthermore, the launch of the new Bentayga Extended Wheelbase model is expected to further boost sales of Bentley’s luxury SUV.”
