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Bentley says 'emotional sensitivity' slowed sales in 2023

LONDON — British luxury carmaker Bentley on Tuesday reported a lower operating profit for 2023 after a weak economy and high interest rates hit sales, but the company said its performance had stabilized and new launches would boost it in 2024. "We had an uneven performance for the first time in about four years," CEO Adrian Hallmark told reporters. "Even though our customers can still afford our cars... there was a level of emotional sensitivity that slowed down demand." For those who leased rather than bought cars with a starting pre-tax price above 220,000 euros ($238,590), interest rates had led to a tripling in monthly fees last year, Hallmark said. He said the launch of four high-performance hybrids this year should spur sales as the company gears up to launch its first fully electric Bentley in 2026. Bentley is aiming for an all-electric model lineup by 2030, but Hallmark said its hybrids were likely to be on sale after that deadline as the company seeks to ensure a return on its substantial investment. The luxury automaker in January reported an 11% drop in sales for 2023 following a record year in 2022. The British luxury unit of Volkswagen posted an operating profit of 589 million pounds ($748 million) for 2023, down nearly 17% from 708 million pounds in 2022. Revenue was down 13% at 2.94 billion pounds from a year earlier and the company said its profit margin dropped to 20.1% from 20.9% in 2022 because of investments in new vehicles. Earnings/Financials Green Bentley Luxury

Wolfgang D?rheimer retakes the reins at Bentley and Bugatti

Wolfgang Dürheimer is still in play, with Bentley Motors announcing that he will return to the Chairman and CEO slot of the English company and French division Bugatti on June 1, 2014. He'll probably remember those chairs from the last time he filled them, since he was promoted to both positions in 2010 and remained there until September 2012, when he was installed as the head of R&D at Audi. That job only lasted until June of 2013, his nine-month tenure reported to be full of corporate drama that lead to his dismissal from the position.
But as if on gardening leave, he's been in the low-profile position of General Representative of the Volkswagen Group responsible for motorsport. Once back at Bentley, he will take over as the company works on getting its SUV to market and expanding its range. Both of those briefs Dürheimer will know well, having proved his ability at Porsche in the first decade of the new millennium. And even though no longer at Audi, his hybrid days don't appear to be over, as Bentley recently announced that it will hybridize of 90 percent of its lineup.
Dürheimer will also take on a third position, joining a VW Group committee focused on the US and Chinese markets. His successor at Bentley and Bugatti, Wolfgang Schreiber, has been promoted to "a leading position within the Volkswagen Group." There's a brief press release below with the official words.

What's that smell? It's a Bentley Boy

The modern Bentley Boy finally has something fitting to wear underneath his scarf and ulster: the fragrance in the Lalique for Bentley Crystal Edition or the Bentley for Men and Bentley for Men Intense scents. French crystal house Lalique designed a limited edition flacon shaped like the Flying B company mascot that contains an eau de parfum created by the French perfume house Robertet. That fragrance is "fine woody notes and exquisite leather" enhanced by orris butter. Only 999 flacons will be made, going on sale in April for 3,000 pounds (3,500 euro, $4,572 US) for a 40-ml bottle.
The other two options were created by French perfume house Firmenich. They also start with "fine wood and leather notes," with Bentley for Men getting an addition of cedar and patchouli, the Intense version throwing in African geranium to "take these notes to another level."
If that won't be enough to fulfill your lust for vehicular aroma, the full line also includes after shave balm and hair and body shampoo. When they go on sale in April at select retailers, prices will start at 24 pounds (27 euro, $36 US) for the shampoo and top out at 69.50 pounds (87 euro, $106 US) for the Intense eau de parfum. You can read more about them in the press release below.