BENTLEY REPORTS HIGHEST EVER THIRD QUARTER RESULTS

BENTLEY REPORTS HIGHEST EVER THIRD QUARTER RESULTS

  • Operating profits more than double year-to-date to $579 million
  • Previous highest full-year total profit was $392 million
  • 23.1 percent return on sales highest recorded in Bentley history
  • Sales year-to-date increase 3 percent to 11,316 cars
  • Bentayga SUV sales, in its sixth year, up 9 percent over 2021
  • British marque sees growth of 25 percent in home market
  • Americas still the strongest sales region with 7 percent increase
  • Europe and Asia Pacific regions register double digit sales growth
  • New Bentayga Extended Wheelbase set to boost last quarter
  • Figures follow $3.024 billion investment in industry-leading Crewe factory and future products
  • Results reflect success of Bentley’s industry-leading Beyond100 strategy

(Crewe, November 2 2022) Bentley Motors today 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 $579 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 $392 million. An encouraging 23.1 percent return on sales was the highest in Bentley’s 103-year history.

Year-to-date sales were up 3 percent to 11,316 luxury cars, while revenue increased from $1.964 billion in 2021, to $2.509 billion this year, a 28 percent growth rate.

This was largely due to the popularity of new model derivatives and the personalization options available through Bentley Mulliner, the oldest coachbuilder in the world.

This includes the most powerful, fastest, most dynamic and most luxurious Continental GT yet created, the GT Mulliner, which launched earlier this year. Extending driver appeal further, Bentley unveiled a new S range, focused on driving performance and visual presence, for the GT family and Flying Spur. 
A third customer offering was also announced with the range of Azure models focused on well-being and comfort.

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 most advanced and environmentally-friendly Flying Spur ever. 
The Continental GT and GTC ultimate grand tourers together accounted 
for 32 percent of sales, with the new, performance-orientated GT Speed 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 double digit growth of 17 percent. The UK home market rose by 25 percent to 1,126 vehicles while the Americas is still the strongest sales region overall, with a 7 percent increase to 3,154 cars. 

Bentley is expecting a strong end to the year thanks to the introduction of the Bentayga Extended Wheelbase (EWB) model, the new luxury flagship SUV offering the best rear cabin experience since the Mulsanne. The EWB has so far accounted for approximately 40 percent of Bentayga orders since launch. 

The latest figures continue to support Bentley’s industry-leading 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 $3.024 billion, ten-year investment program 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. 

“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.”

Q3 year-to-date financial figures    

Financial result2022 Q3 YTD2021 Q3 YTD
Revenue$2.510 billion (+28%)$1.964 billion
Operating Result$579 million (+109%)$277 million
Return on Sales23.1 percent14.1 percent

 

Q3 year-to-date sales figures
 

Market2022 Q3 YTD2021 Q3 YTD2022 Q3 YTD (% of total sales)
Americas3,154 (+7%)2,95228%
Chinese mainland, Hong Kong and Macau2,693 (-17%)3,24724%
Europe2,133 (+18%)1,81419%
Asia Pacific1,531 (+17%)1,30413%
United Kingdom1,126 (+25%)89910%
Middle East, Africa and India679 (-5%)7186%
Total11,316 (+3%)10,934100%

 

- ENDS - 

Notes to editors

Bentley Motors is the most sought-after luxury car brand in the world. The company’s headquarters in Crewe is home to all of its operations including design, R&D, engineering and production of the company’s five model lines, Continental GT, Continental GT Convertible, Flying Spur, Bentayga and Bentayga EWB. 
The combination of fine craftsmanship, using skills that have been handed down through generations, alongside engineering expertise and cutting-edge technology is unique to UK luxury car brands such as Bentley. It is also an example of high-value British manufacturing at its best. Bentley employs around 4,000 people at Crewe.

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