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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

2013 Bentley Continental GT Speed Convertible

Loses its Head, Keeps its Bespoke Cool
This is the 10th anniversary of the Bentley Continental GT, the 5,500-pound shim that pried open the market for bespoke luxury at $150K. We're into the second generation of the supercoupe that is still - and we think unfairly - derided as a grossly exaggerated Volkswagen, which to us is like saying the Hulk is just Bruce Banner in a tizzy. There are credible grounds for both statements, but in neither case do they accurately convey the chasm between the alpha and the omega.
Nevertheless, checking off the list of updated models brings us to the Bentley Continental GT Speed Convertible, the moderately augmented version of the non-Speed GTC. Back to the notion of unfairness, it's probably just that to say the GT Speed Convertible is only "moderately" changed. It did, after all, take Bentley three years to engineer the changes that separate your 'basic' Bentley from the Speed variant, and although they might be imperceptible, they are numerous.

Bentley Bentayga plug-in hybrid spied using V6 power

Bentley confirmed plans for a plug-in hybrid version of the Bentayga in early 2015 and said the electric SUV would be ready for 2017. It seems that the luxury automaker will keep its word, because one of our spy photographers spotted this nearly undisguised model out testing. It looks identical to the normal Bentayga, with the exception of an additional little flap on the left side for a plug. Although Bentley confirmed the hybrid's development way back in 2015, it left out a few details about what the powertrain would be, only saying it would either be a V8 or a V6. Our spy photographer was able to shed some light on this by looking up the prototype's registration. Apparently it has a 3.0-liter engine under its proud hood, so it's a reasonable bet the Bentayga has a V6. Since Bentley promised the hybrid would be ready for 2017, and because this car is hiding almost nothing, we would expect to see the car make a full debut by the end of the year. It should have an electric range of just over 30 miles. Related Video: Featured Gallery Bentley Bentayga plug-in hybrid spy shots View 12 Photos Image Credit: CarPix Green Spy Photos Bentley Crossover SUV Hybrid Luxury bentley bentayga