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Bentley defies economic headwinds, posts record profit

Bentley Motors has announced its best-ever annual operating profit and vehicle sales last year for the second year running as part of its latest financial results.

The company posted a record-breaking operating profit of €708 million (A$1.12 billion) in 2022, which is an increase of €319 million (A$506 million) from the previous year.

Bentley also sold a total of 15,174 vehicles last year, which is the first time the brand has sold more than 15,000 cars in a year.

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Return on sales climbed to 20.9 per cent in 2022, which is 7.2 per cent more than in 2021. Bentley claims this is due to customers choosing higher specification vehicles, higher option uptake, and the sale of limited-edition and coachbuilt vehicles.

Bentayga Credit: CarExpert

The Bentley Bentayga SUV continues to the be the brand’s top-selling vehicle, accounting for 42 per cent of total sales in 2022. This was followed by the Continental GT and GTC with 31 per cent of the model mix, and the Flying Spur which accounted for 28 per cent of Bentley’s total sales.

“Since the low point of 2018, the whole team at Crewe has been working intensively to restructure the business model, in parallel with launching successive segment leading new models and features,” said Bentley Motors CEO Adrian Hallmark.

“Last year marked a milestone in this journey. “

Flying Spur Credit: CarExpert

“An almost €1 billion profit turnaround has been achieved since 2018 despite an unprecedented period of disruptions and crises including Brexit, Covid, Semiconductor supply, Ukraine and UK economic instability,” he added.

As recently reported, Bentley plans to offer only plug-in hybrid (PHEV) and electric vehicles (EVs) by 2026, as it gears up to go all-electric by 2030.

The British carmaker recently announced it will end production of its W12 engine in April 2024, and will sent it off with the ultra-exclusive Batur.

Batur Credit: CarExpert

Bentley has previously pledged to reveal its first EV in 2025 and bring it to market in 2026.

Overseas reports indicate the first EV will be an SUV, potentially a version of the next Bentayga or perhaps an all-new nameplate.

It could even be built on the PPE platform which will underpin the Porsche Macan EV, Audi Q6 e-tron, and the Audi A6 e-tron.

MORE: Bentley sets sales record as luxury market stays buoyant

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