Bentley celebrates sixth year of profitability driven by record personalisation
The British luxury car maker, based in Crewe and employing more than 4,000 people, announced an operating profit of €373 million (£313.32m) — the fourth best in its 105-year history.
It also reported a return on sales of 14.1 percent, based on revenue of £2.224 billion, as revenue per car soared by 10 percent over the two years.
Bentley Motors Chairman and CEO Dr. Frank-Steffen Walliser declined to provide a figure on how many cars were sold last year, stating that the priority is "value over volume."
“Over the last five years, Mulliner content per car has tripled,” he said. “Much of this personalisation is on exclusive paints and veneers.”
EV transition underway, despite market challenges
Walliser noted that US tariffs were creating some uncertainty, though the full impact is still “too early to judge.” He added, “However it adds up, it will have an impact.”
China remained “challenging” — the market is shrinking, but Bentley’s market share is rising, now holding about 50% of the luxury car segment there.
Asked about the future powertrain mix, Walliser said: “We have ideas. But we're not telling now.”
Bentley's original 2030 deadline to become fully electric was extended to 2035, amid slower EV uptake. Still, the CEO says the brand will remain “flexible” over the next decade, balancing EVs with V8 hybrids.
Strong start to 2024, despite sales dip
In the first half of 2024, Bentley reported an operating profit of $283 million, down from $423 million in the same period of 2023. Revenue also declined from $1.82 billion to $1.51 billion. Still, the company maintained a strong return on sales of 18.8% compared to 23.2% the previous year.
Bentley delivered 5,476 cars in the first half, with the Bentayga SUV making up 41% of sales, followed by the Continental GT/GTC at 34% and the Flying Spur at 25%.
As part of its electric future, Bentley has begun converting the oldest building on its Crewe site into an EV production facility — a key step in transforming the 85-year-old plant. The investment supports the company’s “Beyond100+” strategy, which includes launching a new hybrid or electric model every year over the next decade.
Walliser concluded: “Last year marked a milestone year in our transformation. We are investing at levels never seen before at Bentley, as we revolutionise our product cycle and transform our historic site for a new age of electrification. These are the critical foundations for our long-term success.”