7:13 am, July 29, 2023
The boss of Bentley has warned that ‘challenging conditions’ could have a negative impact on the British marque’s performance in the coming months
The firm saw its profits take a minor hit in the first six months of the year after enjoying a record-breaking 12 months in 2022.
Accounts show that the outfit posted a £334m profit in the six months to the end of June, compared to £341m in the same period last year.
Overall deliveries were also on the slide, dropping four per cent to 7,096 cars delivered but its return on sales did remain largely consistent at 23.3 per cent.
America remains Bentley’s largest market, with 29 per cent of its vehicles being sold there, followed by China (21 per cent) and Europe (19 per cent).
Bentley’s Bentayga SUV has retained its place at the top of the firm’s best-sellers list, accounting for 44 per cent of tidal sales, followed by the Flying Spur and Continental GT, which made up the remaining 24 per cent and 32 per cent respectively.
We today announced encouraging financial results for the first six months of 2023, with an operating profit of €390 million, slightly down on the same period last year, a two per cent drop from €398 million.
Find out more: https://t.co/86QCoU3sU5 pic.twitter.com/T5ejQn2Png
— Bentley Newsroom (@BentleyComms) July 28, 2023
Adrian Hallmark, chairman and CEO of Bentley Motors, said: ‘The positive results for the first six months are largely a reflection of a consistent order bank amassed over the previous months and years and although our current order run rate is good, it is slightly down on the highs we reached in some of our key markets last year.
‘We expect challenging conditions in the second half of the year and so will monitor our supply and stock levels accordingly to ensure our quality of sales is maintained, and adjusted, if we so need as the year continues.’
Bentley is currently undergoing a major revamp as a firm, with the firm set to end production of its legendary W12 engine in April 2024, as it transitions to EVs.
Its first electric car is due on sale in 2026.
