Bentley records second-best quarter in 104-year history as sales surge
Bentley Bentayga accounted for 42% of overall sales, spurred on by the launch of the popular EWB variant
Americas market leads charge as British firm makes £772 million profit; Bentayga made up 42% of all sales
Bentley has just recorded its second best quarterly financial results to date, driven by strong demand for customisations and an upshift in car production as supply shortages began to ease.
Between January and April, the British luxury marque made £189 million in pre-tax profits, an increase of 27% on the same period last year (£149m). Overall revenue rose 9% to £772m.
Much of this was due to a rise in global car sales, up 10% to 3517 – led by a 39% rise in the Americas (1557) – and the continued demand for the Bentley Bentayga, which accounted for 42% of overall sales (1477).
Bentley says these strong figures will allow the firm to reinvest in its Beyond100 sustainable-future strategy. This includes a £2.6 billion investment to electrify its Crewe factory, as well as launching five new BEV models in just five years, starting in 2026.
The five-strong post-2026-model Bentleys will consist of the cars we know now – Flying Spur, Bentayga, Continental GT and GTC – plus another model.
Boss Adrian Hallmark previously told Autocar that these future EVs will have "between 50% and 100% more power” than the current W12 models.
“Strong interest” in model customisation, buyers opting for higher-specification Speed and Mulliner models and the fitting of higher-cost options were other key aspects noted for the record rise, as well as the sales of unique Mulliner Coachbuilt and Limited Edition models.
“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,” said Hallmark.
“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.”
The Chinese mainland, Hong Kong and Macau was the next biggest market for the firm, below the Americas (which accounted for 33% of total registrations), with 666 sales – although this was down 12% from the same period last year.
Mainland Europe wasn’t far behind (645; down 9%) in third, followed by Asia Pacific (410; up 11%), the UK (361; down 2%) and the Middle East, which saw a huge 66% growth in the region with 278 cars sold.
Bentley's latest quarterly results were eclipsed only by its financial performance in the first three months of 2021.