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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

Rough seas delay salvage operation for burning ship carrying luxury cars

LISBON — Rough waters forced authorities on Wednesday to postpone a salvage operation for a ship packed with luxury cars that have been on fire for a week in the middle of the Atlantic Ocean, a port official said. With teams unable to board the Felicity Ace, heavy tug boats sprayed water to cool the vessel, which is carrying around 4,000 vehicles, including Porsches, Audis, Lamborghinis and Bentleys. Lamborghini of America CEO Andrea Baldi told Automotive News that there were dozens of pre-sold Lamborghinis aboard, mostly the Urus SUV. But also some Huracans and Aventadors, the latter of which have ceased production. The ship's 22 crew members were evacuated last Wednesday, the day the fire began. Some of the vehicles are electric, and their lithium-ion batteries have made the fire very difficult to extinguish, port officials have said. Joao Mendes Cabecas, the captain of the nearest port on the Azorean island of Faial, said the blaze had lost its intensity — probably because there was little left to burn. Salvage teams hoped to board the ship, which is is adrift around 170 km southwest of the Azores near Portugal, to assess its condition and start preparing it for towing, the Portuguese navy said in a statement on Tuesday. The navy took photos of the ship that showed a gaping hole at least four decks high, with burn marks running the length of the ship. It is unclear if the vessel will be towed to the Bahamas or Europe. Cabecas told Reuters bad weather prevented the team from boarding the ship. Waves as high as 2.5 meters battered the coast of Faial on Wednesday, Portugal's weather agency IPMA said. The salvage team was expected to be flown to the ship on a helicopter belonging to the Portuguese air force, which will decide on Thursday if the operation can proceed, Cabecas said. Ship manager Mitsui O.S.K. Lines Ltd (MOL) said in a statement on Tuesday the vessel was still on fire but stable, and that no oil leak had been reported so far. It did not respond to a Reuters request for comment on the cause of the fire. Insurance experts said the incident could result in losses of $155 million.   Weird Car News Audi Bentley Lamborghini Porsche

Bentley Continental GT S Bathurst editions celebrate 12-hour race

Bentley's Mulliner custom and coachbuilt department has been busy with 500 customer cars in the past year. Its two latest creations, though, are for Bentley Sydney in Australia, and they're themed around Bentley's GT3 race cars and the Bathurst 12 Hours endurance race. The pair aren't any faster, as the only powertrain upgrade is the addition of the Bentley sport exhaust, but they sure are greener. Literally. Each car started as a regular Bentley Continental GT S with the twin-turbo V8. The choice of the V8 model is fitting as the GT3 car uses a V8, as per class regulations. The first of the two is the most striking in Apple Green to match the GT3 racer that won the 2020 Bathurst 12 Hours. It also picks up black stripes and a black roof and tail section to further connect the two cars. At the front, the number seven is painted in the grille, another tribute to the race car. The second car has basically the same color scheme, but it's painted in Silver Tempest to match the first GT3 cars for this generation of Continental GT. Inside, the Bathurst cars have black leather and faux suede, and the Apple Green accents around the gauges, in the stitching and on the shifter look like they glow. There are also depictions of the Bathurst track layout, the GT3 race car, and commemorative plates numbering the cars. Plus, Bentley will include 1:18 scale models of the 2020 winning race car. No pricing was given. But obviously they'll likely cost more than a standard Continental GT. And the two cars are being sold in Australia where the Bathurst track, Mount Panorama, is located. Related video: