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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

Bentley planning to rejuvenate and modernize its design language

The sold-out Bacalar moves Bentley's design language in a sharper, bolder direction. It's limited to 12 units, so the odds of seeing one in the wild are low, but its head-turning lines will influence the company's future models. "It was appreciated very well by its target audience, but also by our traditional customers. I was surprised and happy to get positive remarks. I feel encouraged to really push the subject of rejuvenating and modernizing Bentley's design language," Stefan Sielaff, Bentley's lead designer, told Autoblog. He added his team will accelerate this process in the coming years. "We will take steps forward," he affirmed. Bentley remains a relatively small company, and it recently overhauled a large chunk of its range by releasing the new Continental variants, so don't expect to discover its next design language in the coming months. It's more of a long-term goal for the firm. Luckily, it has plenty of projects in the pipeline. Company boss Adrian Hallmark strongly hinted at "an even more luxurious and even bigger" version of the Bentayga, likely to succeed the Mulsanne (pictured) at the top of the line-up, and he suggested Bentley is tentatively planning to release its first electric model -- possibly with a cutting-edge solid-state battery pack -- about halfway through the 2020s. Speaking of, electrification technology will give stylists the opportunity to explore new design avenues. "I think that, when we talk about an electric car, and only from the design point of view, we have to work on efficiency first of all. This has a certain impact on our design language. It means we need to focus more on aerodynamics and on lightweight design, and this has a direct impact on the styling. I personally think it is a big chance for us; it will help us push the design language forward," he concluded.

Bentley hits two milestones nearly a century apart at the same time

Bentley's Mulliner division completed two customer cars that couldn't be more different. It finished the first Bacalar, a futuristic-looking roadster related to the Continental GT, and it wrapped up the first Blower continuation car. Each limited to 12 examples, the Bacalar and the Blower are customer-configured special projects that are built largely by hand, so signing off the first examples is a major accomplishment. Bentley isn't able to reveal the identity of the person who purchased either. The first Blower is painted in Birkin Green as a tribute to one of original Blowers, which was built and raced by Sir Tim Birkin. Its wire wheels are also green, and its soft top is black. Mechanically, the first continuation Blower is identical to the 1929 car, meaning it's powered by a supercharged, 4.4-liter four-cylinder engine, but Bentley made a handful of small changes in the name of safety and convenience. First, it fitted electric fuel pumps and added a foam baffle to the fuel tank. Second, it added a dynator that it describes as "a reworked alternative to the original dynamo." Everything inside the four-cylinder is a re-creation of the original engine, down to the aluminum pistons. It develops 240 horsepower, which was amazing in 1929. Back in the 21st century, the first Bacalar is finished in Atom Silver with Moss Green and gloss black exterior accents. It rides on 22-inch wheels. Beluga leather upholstery dominates the cabin, and the owner commissioned a sprinkling of black and green to create a visual link between the exterior and the interior. Bentley delivered the car with a set of leather-upholstered luggage, and it placed the key in a box that's upholstered with the same leather. Power for the Bacalar comes from a twin-turbocharged, 6.0-liter W12 that delivers 650 horsepower and 667 pound-feet of torque. It spins the four wheels via an eight-speed automatic transmission connected to shift paddles. While this is an existing powertrain, Bentley nonetheless put the Bacalar through extensive durability tests in 2020. Both models are on their way to their new home. Keep your eyes peeled at the next cars and coffee event; who knows, one might make a surprise appearance. Bentley previously said the Bacalar would be sold in America under the Show and Display rule, so some of the production run will likely end up here. In the meantime, the men and women in Bentley's Mulliner workshop have already started building the next three examples in each series.