Bentley just had its best first quarter ever, with sales up 41% to $855 million – Robb Report

Bentley Production Line

Forget the year of the tiger. It looks like 2022 will be the year of the Bentley — if the automaker’s opening quarter has anything to offer, that is.

On Thursday, the British brand announced that it just had the strongest first quarter in its 103 year history. During the first three months of the year, corporate profits rose 162 percent to $179 million.

It comes after a record high in 2021 in which annual profits rose to a new all-time high of $409 million (€389 million). That’s more than double the previous record $179 million (€170 million) set by Bentley in 2014. In addition, the money earned in the first three months of this year equals the full year 2014 earnings.

Interestingly, the folks at Crewe say total car sales fell 5 percent quarter-on-quarter from 3,358 to 3,203 as a result of “global events” (aka the pandemic). However, revenue per car has increased from $193,000 (€184,000) to $223,000 (€212,000). This, in turn, increased quarterly revenue by approximately 41 percent to $855 million (€813 million).

The Bentley Continental GT Speed.

The Bentley Continental GT Speed, Robb Report’s 2022 Car of the Year.

Photo by Robb Rice.

Bentley attributes the growth to increased demand for the more expensive and more powerful four-wheelers, such as the Mulliner and Speed ​​derivatives. (Coincidentally, the Bentley Continental GT Speed ​​was just mentioned) Robb Reportcar of the year in 2022.) Especially in Europe and the UK, sales rose sharply by 38 percent and 30 percent respectively. Together, the two markets account for about a third of all Bentley sales or 1,074 cars. Sales in the Americas, meanwhile, were down nine percent and the region received a relatively modest 832 Bentleys.

With the order bank also at an all-time high, Bentley is certainly well placed to execute on the $3.2 billion (€3 billion) Beyond100 strategy to reinvent the entire range to achieve carbon neutrality by 2030. Bentley’s historic factory at Pyms Lane in Cheshire will also be treated to a refit to prepare it for the zero-emission future. In other words, get ready for Bentley EVs.

“These results demonstrate the intrinsic strength of our brand and confirm the continued success of our industry-leading Beyond100 strategy,” said Adrian Hallmark, Bentley Motors chairman and CEO, in a statement. statement† “They also suggest even more promise for the coming years of transformation.”

Year of the Bentley, indeed.

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