Bentley says new derivatives helped push profits to record high

Bentley says new derivatives of popular models helped push operating profits to a record £495 million in the first nine months of 2022.

The British brand claimed the rise, which was more than double that of the same point last year (£236.7m), was helped by the release of the Bentley Bentayga Extended Wheelbase, which accounted for 40% of overall Bentley Bentayga sales – its top earner (4413 sales; 39%).

It added that personalisation options through Bentley Mulliner, and limited edition models – such as the Bentley Continental GT Mulliner – also helped push profits to a record level.

In papers released today, the British luxury marque – which will become an electric-only carbon-neutral brand by 2030 – revealed the Bentley Flying Spur as another big seller (3168; 28%), putting its success down to the release of a new hybrid powertrain option.

Despite the record profits, overall car sales were up just 3%, mainly down to a drop of 17% in Chinese markets (which is still in a strict Covid lockdown). Yet, the market still remains as the firm’s second most profitable (2693; 24%), just behind the Americas (3154; 28%).

The UK was the biggest grower, up 25% to 1126 sales, adding to the overall 11,316 sales so far this year (up 3% YoY).

Yet, bosses claimed ongoing challenges, such as part shortages, hampered the firm from both producing and selling more models.

“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,” said Adrian Hallmark, CEO of Bentley Motors.

“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.”

One of those limited edition models revealed earlier this year was the Bentley Batur. The ultra-low volume (all 18 already sold) £1.65m car previewed how future Bentley electric models will look. From 2025, the firm will launch five electric models in five years as part of its Beyond100 plan.