7:38 am, November 3, 2022
British luxury brand Bentley has posted record operating profit for the first nine months of 2022.
Latest interims show profit doubled to €575m (£495m), up by 109 per cent over same period last year.
It was a new record, too, with the previous best being €389m (£335m).
Year-to-date sales grew by three per cent to 11,316 cars, while revenue increased from €1.949bn (£1.67bn) in 2021 to €2.490bn (£2.143bn) this year – a rise of 28 per cent.
Bentley attributes the growth to the popularity of new model derivatives, such as the Bentayga Extended Wheelbase (EWB) as well as new personalisation options that are available through Bentley Mulliner.
Adrian Hallmark, chairman and CEO of Bentley Motors, said: ‘While Bentley continues to tackle the challenges it faces in the global market, this latest set of financial figures shows strong results in most regions.
‘The continued growth in revenue per car supports the options and limited edition models created by Bentley’s in-house coachbuilder Mulliner and the positive customer reception to our increasing range of model derivatives.
‘Furthermore, the launch of the new Bentayga EWB model is expected to further boost sales of Bentley’s luxury SUV.’
Bentley’s SUV took a 41 per cent share of sales, while the Flying Spur accounted for 27 per cent. Combined, the Continental GT and GTC models took 27 per cent of the sales.
Bentley also saw sales increase in Europe by 18 per cent during the first nine months of 2022, rising to 2,133 cars.
The Asia Pacific region also saw double-digit growth of 17 per cent. Back in its UK home market, Bentley’s sales rose by 25 per cent to 1,126 cars, while the Americas remained the firm’s strongest sales region, bringing a seven per cent increase to 3,154 cars.
