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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's next Mulliner-developed model will celebrate the W12 engine

Bentley demonstrated what Mulliner, its in-house coachbuilding division, is capable of when it unveiled the limited-edition Bacalar in 2020. The convertible was well received, so the British firm is reportedly planning a follow-up model to celebrate (and send off) the W12 engine. Citing an anonymous inside source, British magazine Autocar wrote that Mulliner's next car will arrive as a coupe based on the Continental GT. That doesn't mean it will look like the Continental GT; the Bacalar is an evolution of the convertible Continental yet it wears a different design. Instead, the model will allegedly borrow styling cues from the EXP 100 GT concept (pictured) that Bentley introduced in 2019. While the EXP 100 GT was electric, Mulliner's next car will receive the same 6.0-liter, twin-turbocharged W12 that powers the Bacalar. The mighty engine will be tuned to send about 650 horsepower and 667 pound-feet of torque to the four wheels via an eight-speed automatic transmission, and it will pelt the coupe from 0-60 mph in well under four seconds and on to a top speed of over 200 mph. Several improvements, like a firmer suspension system and huge carbon ceramic brakes, will let drivers make the most of the W12's power. Hand-built, the coupe will carry a base price of at least $2 million before buyers begin personalizing it; nearly every visual part of the car, including the upholstery and the paint, will be customizable. That figure will make it the most expensive car Bentley has ever released. The report adds that production will be limited to 25 units, and we wouldn't be surprised if the full batch is spoken for before the model is unveiled — even if, like the Bacalar, it's only granted "show and display" status in America. If the rumor is accurate, we'll learn more about the car in 2022 and deliveries will begin the following year. This project could move fast; it took Bentley nine months to make the Bacalar a reality. Few-off projects serve several purposes: they generate profit and they help luxury carmakers elevate and solidify their image. This coupe will also represent Bentley's way of sending off the venerable W12 engine and give the world of a preview of the firm's next design language. Related Video:

Bentley Continental GT commemorating Pikes Peak win is one green machine

Back in June, the Bentley Continental GT set a production-car record for the Pikes Peak hill climb, and now there's a limited edition to celebrate. Maybe the wait was so the brand's Mulliner division could work up a batch of the car's special green paint, which Bentley calls Radium. The green hue is taken from the hill climb car's livery, and it appears not only on the body, but also on the Pirelli P Zero tires and inside as contrast stitching, floor mat edging, and embroidery of Pikes Peak on the headrests. The not-quite-matching color on the brake calipers is Bentley's Acid Green. Besides Radium, the model also is offered in black. The special edition also features Pikes Peak graphics on the front fenders, a carbon fiber body kit, a black roof panel, black side mirrors, and 22-inch wheels also in black. Buyers can opt for Bentley's "100" grille (honoring the brand's centenary year), as pictured here. Besides the Radium green accents, the interior also comes with carbon fiber and gloss-black trim. A graphic showing one of five different sections of the track appears above the glove box, along with the record time of 10:18.488. Bentley's rotating center display also is included along with comfort-spec front seats and deep pile floor mats. All of the cars will be fitted with the 626-hp W12 engine. Pricing for the Pikes Peak limited edition depends on buyer specification, so there's no official MSRP. Nor is there a specific model name. But Bentley is saying that only 15 cars with this special set of extras will be built, and even without a name, it shouldn't be hard to distinguish them from other Continental GTs.