Bentley Motors has unveiled its financial results for the first half of 2023, presenting a mixed picture of performance. While the luxury British automaker reported operating profits of €390 million, the figures reflected a slight decline compared to the same period in the previous year, marking a two percent decrease from €398 million.
The revenue also saw a dip, with €1.681 billion posted for 2023 as opposed to €1.707 billion in 2022. Notably, there continued to be strong interest in Mulliner personalization, derivatives, and optional features among customers. Bentley's return on sales stood at 23.2 percent for the initial half of 2023.
The Middle East region emerged as a notable success story for Bentley, with sales surging by 11 percent during the first half of the year compared to 2022.
Adrian Hallmark, Chairman and CEO of Bentley Motors, commented on the results, attributing the positive performance in the first six months to a consistent order backlog built up over preceding months and years. However, he cautioned about potentially challenging conditions in the latter half of the year and emphasized the need to closely monitor supply and stock levels to maintain the quality of sales.
The best-selling model for Bentley remained the Bentayga luxury SUV, contributing 44 percent of total sales from 7,096 cars delivered in the first half. The Flying Spur sedan followed with 24 percent, while the Continental GT and GTC Grand Tourers accounted for 32 percent.
Global sales did experience a four percent decline compared to the same period in 2022. The Americas retained its position as Bentley's strongest market, with China and Europe following closely behind.
Despite the challenges on the horizon, Bentley remains steadfast in its commitment to the Beyond100 strategy. This transformation plan includes a shift from a product portfolio centered on W12 and V8 engines to a fully electric lineup within the next decade, alongside a parallel effort to become a fully carbon-neutral organization. This ambitious strategy is backed by a €3 billion, ten-year investment program that encompasses future models and upgrades to the Pyms Lane factory in Crewe, England, where all Bentley vehicles are manufactured.
Half-year financial figures
Half-year sales figures
