Bentley Motors reports highest ever third quarter results
Operating profits more than double year-to-date to €575 million, sales year-to-date increase three percent to 11,316 cars.
Crewe, UK-based Bentley Motors has announced record operating profits for the first nine months of 2022, despite continuing challenges and uncertainty in the global economy. The British luxury car manufacturer saw profits more than double to €575 million, an increase of 109 percent compared to the same nine-month period last year. The previous best full year total for the Crewe-based luxury marque was €389 million. An encouraging 23.1 percent return on sales was the highest in Bentley’s 103-year history.
Year-to-date sales were up three percent to 11,316 luxury cars, while revenue increased from €1.949 billion in 2021, to €2.490 billion this year, a 28 percent growth rate.
This was largely due to the popularity of new model derivatives and the personalisation options available through Bentley Mulliner, the oldest coachbuilder in the world.
Reinforcing Bentley’s balanced model line success, the best-selling Bentayga SUV claimed a 41 percent share of sales, while the Flying Spur luxury sedan recorded 27 percent, thanks in part to the introduction of the new Hybrid model. The Continental GT and GTC ultimate grand tourers together accounted for 32 percent of sales, with the new, performance-orientated GT Speed proving to be the most dynamic road car Bentley has ever built.
Bentley sales were up 18 percent in Europe in the first nine months of 2022, to 2,133 cars. The Asia Pacific region also saw a double-digit growth of 17 percent. The UK home market rose by 25 percent to 1,126 vehicles while the Americas are still the strongest sales region overall, with a seven percent increase to 3,154 cars.
Bentley is expecting a strong end to the year with the introduction of the Bentayga Extended Wheelbase (EWB) model. The EWB has so far accounted for approximately 40 percent of Bentayga orders since launch.
The latest figures continue to support Bentley’s Beyond100 strategy, as the company looks to reinvent its entire product range to support an electrified future, achieving carbon neutral status by 2030. This includes a €3 billion, ten-year investment programme in future products and at the Pyms Lane factory in Crewe, where all Bentley models are built.
Adrian Hallmark, Chairman and CEO of Bentley Motors, 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.”
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