2008 Bentley Continental Gtc Dark Sapphire Cognac 11,092 Miles, All Original! on 2040-cars

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VW Group shareholders demand Bentley return to profit

The Volkswagen Group's main shareholders are giving British ultraluxury division Bentley an ultimatum to turn around its finances and start earning a profit. The Piech and Porsche families did not say what would happen if the brand fails to return to the black, but they said it should happen within two years. "The important thing is for every (VW Group) brand to generate a reasonable contribution again," Wolfgang Porsche told the subscription-only Frankfurter Allgemeine Zeitung, as relayed by Automotive News. "That is not currently the case at Bentley, and we are not satisfied." Volkswagen Group has not yet issued its report for full-year 2018, but Bentley had lost the equivalent of $157 million through the first nine months on an 11 percent decline in sales. In 2017, Bentley sold 10,566 vehicles globally, with revenue down 9.2 percent from 2016. VW Group apparently cites the slow rollout of the Continental GT and the British pound's lower value amid Brexit talks, which makes the many parts it sources from continental Europe more expensive, as among the reasons. A German study last summer claimed that Bentley lost a little more than $19,000 on each car. Adrian Hallmark started as CEO in February 2018 after heading global brand strategy for Jaguar. Bentley in 2018 released the all-new 2019 Continental GT after a nine-month delay, and it revealed the GTC convertible version in Los Angeles. Hallmark has said 2019 "is a conversion year to a better business model" after a year plagued by problems that also included European WLTP certification. He announced last year the luxury brand would no longer build new sports cars, though the brand says it's still committed to the idea of the two-door GT. Bentley has also said it wants electrified versions of all its models by 2025, which will be an expensive proposition and will likely including plug-in hybrid versions of current models.

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.

Matthias Muller officially named VW Group CEO

While the vast number of rumors made it seem like a foregone conclusion, Porsche boss Matthias Muller has officially been named Volkswagen Group CEO to replace the recently resigned Martin Winterkorn. His contract runs through the end of February 2020, and until a replacement is found, Muller also gets to hang onto his old job as chairman of Porsche. At the same time, the VW Group Supervisory Board is announcing a massive structural reorganization across the entire company, with the new management model in place by the beginning of 2016. Contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. The board wants a greater emphasis on brands and regions going forward, and the scale of this shift can be seen in the US. On November 1, VW Group business in the US, Mexico, and Canada is being combined under the leadership of current Skoda chairman Winfried Vahland. However contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. Other brands are also seeing some significant changes mechanically. Porsche, Bentley, and Bugatti now fall under the Group's "sportscar and mid-engine toolkit." This means that the brands will start sharing standardized technical parts. A Chief Technical Officer across all of the company's brands will also start working toward future innovations. The new brand-centric view means the end of a group-wide production department. "Going forward, the brands and regions will also have greater independence with regard to production. So it follows that they should also hold the responsibility for these activities," Berthold Huber, interim Chairman of the Supervisory Board, said in the announcement. In a statement with the press release about his promotion, Muller promised to turn the company around after such an international crisis. He said: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry." Matthias Muller appointed CEO of the Volkswagen Group Muller remains Chairman of Porsche AG until a successor has been found Matthias Muller (62) has been appointed CEO of Volkswagen AG with immediate effect.