Published on August 3rd, 2022 | by Sounder Rajen0
Bentley Sets New Financial Results Record For 1H22
Things are looking up for Bentley as they push forward with their new Business Strategy
Bentley Motors has just announced their financial results for the first half of 2022 and it has gone up considerably despite the continued global economic uncertainty.
While things are still going to be uncertain for the foreseeable future, Bentley is optimistic and have posted their operating profits for the first half of the year at €398 million, a stark 124 percent increase from the previous year. That’s for the whole of 2021 too, not just the first half.
Moreover, turnover has increased to €1.707 billion for the first half of the year from €1.324 billion for the first half of 2021 while revenue per car went from €186,000 to €213,000. This is attributed to the rise in personalisation of Bentley cars.
What’s more these numbers also mean that Bentley now sells more cars in the €150,000, €200,000 or €250,000 price range than any other luxury brand.
Kudos to Bentley for killing two birds with one stone, or rather, breaking two records in one go. The company’s return on sales for the first half of the year has also shot up from 13.4 percent last year to 23.3 percent this year.
The best seller for the brand was the Bentley Bentayga Luxury SUV which made up 40 percent of the total sales followed by the Bentley Continental GT Grand Tourer making up 33 percent of sales and the Bentley Flying Spur sedan accounting for 27 percent of total sales.
As for Sales by region Bentley sales went up by 33 percent in Europe and 44 percent in the United Kingdom. This was mainly thanks to the introduction of the Bentley Continental GT Speed. The company’s strongest market still remained as the Americas and sales in China were hindered due to extended Covid-19 lockdowns.
Bentley sales went up 3 percent globally from 7,199 units to 7,398 units for the first half of this year compared to the same period last year. This further supports Bentley’s progressive Beyond 100 strategy.
This strategy will reinvent the entire Bentley product range to embrace electric mobility to achieve carbon neutrality by 2030. This includes a €3 billion ten-year investment programme in all future products at the Pyms Lane Factory in Crewe, where all Bentley models are built.
Chairman and CEO of Bentley Motors, Adrian Hallmark said “Despite the continued global economic instability, it is promising to see Bentley is showing financial consistency as we reinvent the company in line with our Beyond 100 strategy and form a basis to withstand further external shocks.”
“In particular, a significant increase in demand and capitalisation of our Mulliner personalisation programme has driven record return on sales, and continued global interest in the freshest model line in the luxury sector has resulted in record high revenues.” He added.
What do you think about this? Can Bentley keep up this momentum until the end of the year?