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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

2023 Bentley Bentayga Extended Wheelbase revealed as new flagship

Bentley has been without a true flagship model since it ended production of the Mulsanne in 2020. It pledged to fill the gap, and it kept its promise by developing a longer version of the Bentayga called Extended Wheelbase (EWB) that offers passengers a limousine-like cabin. Stretching the Bentayga, which is Bentley's best-selling model, was more difficult than it might sound; the Volkswagen-owned British firm notes that it spent a nine-figure sum on the new model. It notably redesigned the side panels, the underbody, the rear doors and the roof. The investment should pay off, because the EWB will account for about 45% of Bentayga sales when it enters production later in 2022. About 7 inches were added to the Bentayga's wheelbase, and the rear-seat passengers are the sole beneficiaries of the extra sheet metal. In its standard configuration, the EWB offers a 4+1 seating configuration with outer rear seats that are heated, ventilated, 16-way power-adjustable and capable of giving you one of five massages. Buyers who want the ultimate in comfort can order the Airline Seat Specification, which Bentley calls "the most advanced seat ever fitted to a car" — that's a bold statement. This option brings individual rear seats with a backrests that can recline to a 40-degree angle and a Postural Adjustment function that changes the shape of the seat to ease pressure points. Interestingly, the system is capable of providing 177 adjustments every three hours and making a three-dimensional twist. Selecting the Airline Seat Specification also brings a system called Seat Auto Climate that relies on sensors to maintain a pre-set seat temperature; passengers have six levels to choose from. The contact temperature and the surface humidity are both measured on the cushion and in the backrest, and the seat's heating and ventilated elements are activated as-needed to ensure the occupant is comfortable. Alternatively, buyers can order one of two additional configurations called Four Seat Comfort and Five Seat, respectively. While the regular-wheelbase Bentayga is available with three rows of seats, the EWB is two-row only because it caters to buyers who primarily want space. The list of options is astonishingly long; Bentley notes that 24 billion trim combinations are possible.

Bentley, Lamborghini consider foreign production [w/poll]

Would a Bentley be a Bentley if it weren't manufactured in Great Britain? Would a Lamborghini be a Lamborghini if it were built outside of Italy? It may be hard to say either way, but we might find out sooner than later, because the latest word coming in from Europe is that the Volkswagen Group is considering expanding production for both these upscale brands outside their traditional homes.
According to the Autovisie section of Dutch newspaper De Telegraaf, the issue for both automakers comes down to their ambitious expansion programs. Both Bentley and Lamborghini plan to launch new SUVs - the former's being well under way, the latter's still awaiting approval - that would expand their annual production considerably: by 50 percent in Bentley's case, and by as much as 100 percent in Lamborghini's.
For now, both marques intend to handle the added production with additional assembly lines at their current facilities in Crewe and Sant'Agata Bolognese, respectively. But both could soon outgrow their relatively small plants - and with the Volkswagen Group operating countless factories across Europe and around the world, it wouldn't be hard to see these manufacturers shifting excess production outside of their home countries.