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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.

Bentley announces its fifth model will debut May 10

Bentley announced it would debut "a fifth model" on Tuesday, May 10 to join the Continental GT, Continental GTC, Flying Speed and Bentayga. The notice included all kinds of wordplay suggesting extra length and roominess, Crewe members having "gone to new lengths" on the "long-awaited" vehicle that will bring "an extra dimension of on-board wellness," and so on. We can't be certain of what's coming, but we're willing to place a large wager that it's the extended-wheelbase Bentayga. A prototype of the stretched family conveyance with an enlarged wheelbase and grandiose rear doors was caught testing at various points throughout 2021. And the door card in the teaser vid matches that of the Bentayga, not that of the only other four-door Bentley makes, the Flying Spur. Step inside. 12:30 BST, 10.5.2022 pic.twitter.com/4H7YENbtTz — Bentley Motors (@BentleyMotors) April 29, 2022 We don't know how much additional knee space Bentley will grant to back-seat VIP types; were this another era, we're sure Bentley would never quantify it beyond "more ample." We'll find out on May 10. There could be other changes in store for the variant as well, the automaker promising "a breadth of capabilities beyond anything previously offered." If the teaser is correct, there's a nifty shade of purple on the way, too. Related video: