BENTLEY

British luxury automaker reports strong profit

Automakers around the world are struggling to make enough cars to meet demand, and despite Covid and parts shortages, Bentley says it made more profit in the first half of 2022 than in the whole of 2021, with £ 334 million.

Of course, the Volkswagen Group has ensured that Bentley's high-margin business gets enough parts, but it looks like the profits also come from a big jump in prices this year. Bentley says it's about a higher level of personalization, but it also seems to be because, as British media notes, "customers are desperate to get their hands on a new car."

Sales rose from 7,199 vehicles in the first half of 2021 to 7,398 in the first six months of 2022, but the average sale price also rose from £156,000 to £179,000, giving Bentley a record 23.3% return on sales.

The biggest share of sales is the Bentayga SUV (about 40 percent of sales), followed by the Continental GT (33 percent) and the Flying Spur (27 percent).

Bentley's Jan-Henrik Lafrentz says: ''Bentley has continued to focus its efforts on building long-term, sustainable profitability. These results reflect a strong underlying price position, increased revenue through optionality and favorable exchange rates. In parallel, we continue to maintain our lower cost base, leading to a restructured business model that delivers strong returns on our investments and sales''...

by Ivan Mitic