Limited Editions and Coachbuilt Cars’ Impact
Bentley unveiled that its economic performance in 2022 had shattered all prior records, as the operating profit soared to €708 million (around $751 million), a remarkable hike of €319 million ($338 million) from 2021. Simultaneously, sales figures reached an all-time apex with 15,174 vehicles being sold.
Compared to 2018, operating earnings have increased by roughly €1 billion. In 2022, 82% expansion was witnessed in profits from a meager 4% rise in volume. Obviously, the immensely affluent are maintaining their status quite nicely as evidenced by their preference to put their money into luxurious Bentleys.
Last year also marked an all-time high for the renowned English automobile brand, as more than 15,000 vehicles were sold – a record in its 104-year history. This achievement was further accompanied by corresponding jump in Return on Sales (ROS), a measure of how successfully a company transforms sales into profits, which rose to 20.9% from 13.7% over the preceding 12 months. The improvement has been credited to customers opting for extravagantly equipped models, coupled with a rise in limited editions and custom assembled works.
These figures are essential as Bentley is dedicating a major part of its gains to its Beyond100 plan, which is aimed at making it a solely electric brand.
As of 2026, five all-electrical models will be launched in the span of five years. Signaling a shift in production strategy, the last W12 combustion motor is set to be manufactured in April 2024. By 2030, their selection will be completely outfitted for electric power.
“Since the nadir of 2018, the entire Crewe team has been toiling diligently to revamp the corporate structure, while introducing a series of segment-leading new models and features. Last year was a crucial part of this journey,” said Adrian Hallmark, Chairman and CEO of Bentley. “We have accomplished a nearly €1 billion turnaround in profits since 2018, despite the numerous interruptions and calamities, such as Brexit, Covid-19, Semiconductor supply issues, Ukraine and economic instability in the UK.”
Hallmark highlighted that they had constructed a reachable commercial pattern with the quota of success at 65% of its fabricating capability. In reference to sales, around one-third of Bentley’s all-around trade was composed of the Continental GT and GT Convertible, with the GT Speed contriving for 31% of the Continental totality. The Flying Spur had a 28% share in complete sales and Bentley elucidated how the introduction of the hybrid form was principal to this.
Orders for the 2023 model year are already coming in, and Bentley has noted that they are keeping a close eye on the “volatile and risk factors” that could affect the global economy.
“Our main priority is to ensure that our customers are satisfied with the value of our product,” stated Hallmark. “Rather than focusing on sales volume, we will adjust our plan to fit the changing market environment.” He concluded by expressing his commitment to this strategy.
