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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

The Bentley Bacalar went from a sketch to a 650-hp roadster in nine months

Bentley's Mulliner division cemented its status as a modern-day coachbuilder when it unveiled the Bacalar, a two-seater roadster loosely based on the Continental GT. Nearly every part that drivers will see and feel is specific to the model, including the body panels and most of the interior, yet the company created it in just nine months. Mulliner has worked on many one- and few-off models in the past, it notably turned the stately Mulsanne into a six-seater limousine in 2016, but the Bacalar (pictured) takes customization to an entirely new level. Repeated requests from its most loyal clients convinced Bentley to expand the scope of its coachbuilding division. "We felt a strong demand from our high-end customers. They asked again and again, 'can you do something very special?' They weren't talking about one of a hundred, but one of 10 or even one of one," explained Stefan Sielaff, the company's lead designer, in an interview with Autoblog. He added the Bacalar project started shortly after Bentley introduced the EXP 100 GT in 2019 to celebrate its 100th birthday. This explains some of the visual parallels between the two cars. While the concept was electric, the sold-out production model receives a mighty, 650-horsepower W12 engine because Bentley couldn't create a suitable battery-powered drivetrain in the short amount of time it had to make the roadster a reality. Sielaff stressed the effort his team put into making the Bacalar in nine months shouldn't be underestimated. "We had to make sure the car was road-legal, homologated, and certified. The car you would have seen at the Geneva auto show is literally what the customer will get. It's not a crazy show car. The only difference will be the colors and the materials, because we will work with each customer to make an individual statement," he said. In the United States, the Bacalar will be imported under the Show and Display law, like the McLaren Speedtail. The expedited design process meant the 12 future Bacalar owners signed the dotted line after seeing only digital renderings of the car. They weren't shown the final product until much later. Their enthusiasm is encouraging; it tells Sielaff there's a tremendous appetite for one- and few-off Bentley models among wealthy clients.

The Bentley EXP 12 Speed 6e Concept is the gentleman's open-air electric tourer

The ever-present pressure exerted by increasing fuel economy and emissions standards is forcing automakers worldwide to re-examine their traditional internal combustion lineups. In order to gauge customer interest, Bentley brought the all-electric EXP 12 Speed 6e to the Geneva Motor Show. The drop-top concept shows Bentley's vision of an electrified future and what it envisions a battery-powered luxury touring car will be. Bentley believes any electric vehicle that wears the flying B should be as capable as the equivalent gas-powered model. That means London to Paris or Milan to Monaco on a single charge. Filling the battery should be effortless, which is why they want inductive charging, negating the need for cables. There is one for those times inductive charging isn't available. Most of all, the electric motors should supply effortless amounts of torque, just like the current lineup of Bentley eight and 12-cylinder engines. The interior of the EXP 12 Speed 6e is both futuristic and distinctly Bentley. High-quality leather and copper trim cover most services while a large OLED display houses most of the car's controls. The half-cut steering wheel uses glass elements embedded with various buttons and controls. The cut sections feature controls a performance boost and one for a speed limiter for use in urban areas. The copper elements continue outside, highlighting various trim elements around the car. When in motion, there is a large "6" that illuminates within the grille. The design is similar to the Continental GT prototype we spied a few weeks ago, which in turn takes elements from a previous Bentley concept, the EXP 10 Speed 6. It will be interesting to see how well customers receive the concept. Rolls-Royce brought out similar vehicle awhile back. Reception was icy, but the two automakers do have a different customer base. Related Video: Featured Gallery Bentley EXP 12 Speed 6e Concept: Geneva 2017 View 14 Photos Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Geneva Motor Show Bentley Convertible Electric 2017 Geneva Motor Show