Wednesday, September 15

Bentley posts highest profit in a 100 years

Even though the entire automobile industry is down on its knees due to the pandemic, the Crewe based automaker sold a record number of its luxury sedans and SUVs

Bentley Motors has made more profit in the first half of 2021 than any full year since its inception a century ago.

Even though the entire automobile industry is down on its knees due to the pandemic, the Crewe based automaker sold a record number of its luxury sedans and SUVs.

The brand is mainly owned by Volkswagen AG and has been enjoying sales growth for a few years now, having sold 11,206 vehicles last year despite being compelled to keep its production units closed for more than seven weeks.

In comparison, the British brand sold 11,006 cars the year before, suggesting a steady growth in sales figures averaging 2%. The scenario has changed completely in 2021 breaking all its previous records– having an increase in global retail sales by 50% over pre-pandemic levels.

However, Bentley’s forecast for the year 2020 was actually higher than what they had achieved. But the coronavirus pandemic has put a damper on their plans.

“Even though we anticipated greater sales before the pandemic struck, when you consider the level of restrictions around the world for the majority of the year, to achieve a record sales performance is a strong measure of our potential,” Adrian Hallmark, chairman and CEO of Bentley, said in a statement.

For more than a decade now, places like China have become a lucrative market for the luxury automobile brands such as Rolls Royce, Range Rover, Mercedes Benz and Bentley is no exception.

Sales in China have helped gain such success with 2,880 units delivered (26% of its total deliveries) there making it the biggest market for the automaker. In the first half of 2021 alone, the profit for the six months has reached 178 million euros ($211 million).

The previous record stood at 170 million euros, but that was for the entire year of 2014. “We are benefitting from a sector growth that we thought would be about 25%, but it’s actually closer to 40% year on year,” the CEO also mentioned in the statement.

All of the three Bentley model lines have contributed to such a massive success. The Bentayga SUV being the most popular model sold 2,767 units; the two-door Continental GT sold 2,318 units and the flying spur sold 2,063 units.

The British automaker also plans to offer plug-in hybrid and fully electric vehicles by 2026 and go completely electric by the year 2030, as a part of Volkswagen’s (Bentley’s parent company) move to go completely electric. Volkswagen (VW) group is currently the largest Electric Vehicle (EV) manufacturer in all of Europe.

Interestingly, 75% of the orders have come from individuals who have never owned a Bentley before. This has affected which options have become most popular, for example– the Piano black interior trim has replaced the usual burr walnut as the most requested choice.

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