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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 and Skoda capitalize on the coronation

Most likely, King Charles won’t be riding in a Czech-made Skoda this weekend when he is crowned king of England, even though the car company has introduced a Coronation Edition in a “Royal Green” color “in honor of the Coronation.” However, should they ride to the fancy investiture at Westminster Abbey in a home-grown Bentley, the royal tushes of he and Queen Camilla may be resting on bespoke, handcrafted “cabin cushions” created by BentleyÂ’s “Dream Factory” to celebrate the occasion (not likely, since the royal couple is expected to travel in the 260-year-old Gold State Coach). The upcoming, day-long event has inspired lots of tchotchkes of course — chocolate Charleses, crowns for dogs, Lego kings — as well as an outpouring of affection by the public and commercial opportunities to sell them things royalty-related. On the matter of the new KingÂ’s rear end, the Bentley cushions are described as being quite fabulous. It took craftsmen three days to embroider them with the special “Coronation Emblem,” which consists, according to the firm, "of two separate thread colours ... three different colourways of the emblem were used, to contrast the individually-selected hides for different colours of cushions to match the interiors of the Bentleys that will use them." The colors of the cushions include Cricketball and Cumbrian Green, accented by piping of Beluga, Porpoise, Newmarket Tan and Imperial Blue respectively. Should they require more modern transportation, a fleet of Bentleys will be on hand for special guests.  Regarding the Skodas, the Royal Green color will be available to order by commoners as well as by the royal couple, available on selected Superb, Kodiaq and Octavia models in the UK.

Bentley Speed Six Continuation Series revealed at Goodwood Festival of Speed

The Bentley Continuation series of cars is … continuing. Today, Bentley unveiled the Speed Six Continuation Series at the Goodwood Festival of Speed. This follows the series of 12 Bentley Blower Continuation models, but apologies youÂ’re only hearing about the new series now, as the 12 Speed Six units are already spoken for. Bentley says it regards the Speed Six as its most successful race car ever because it dominated Le Mans both in 1929 and again in 1930. Just like the Blower, the Speed Six will be built using the same processes as the original car by BentleyÂ’s bespoke and coachbuilding division, Mulliner. Bentley has 80% of the carÂ’s original drawings and is supplementing this knowledge with original mechanicÂ’s notes and data taken from an original 1930 Le Mans racer and a 1930 Speed Six currently residing in BentleyÂ’s Heritage Collection. The “6 1/2 liter” (as Bentley likes to term it) six-cylinder engine required the creation of over 600 new parts to build, and Bentley says initial dyno testing shows itÂ’s making 205 horsepower, which is 5 horses more than the original race engines were documented to produce. Bentley originally put this engine together as a successor to the Blower motor, as the thinking at the time from W.O. Bentley was that increasing displacement would produce better results than supercharging. Every last detail of the Speed Six Continuation Series is scrutinized to be as authentic as possible to the original. The one youÂ’re looking at in photos here is finished in Parsons Napier Green and features a tan leather interior. A total of five authentic colors will be available for the buyers to choose from, too. The craftspeople building the cars will be working alongside younger folks on purpose in an effort to pass down the skills and techniques used to create such vehicles. Before a single screw is turned, though, Bentley says it will be putting “Car Zero” through a real-world durability program with a goal of over 21,000 miles on the road and nearly 5,000 miles on the racetrack. Will any of the 12 customers ever get close to those figures? It sure would be cool if they did. As for those 12 lucky people who will own one of these Speed Six Continuation Series cars, theyÂ’ll all have custom sessions with the Mulliner team to get their cars customized and built to their specific wants. Each Speed Six will then take 10 months from start to finish to complete, and Bentley thinks production will be completed by the end of 2025.