Flying Spur sales help drive Bentley profits 124pc higher
BENTLEY, the 103-year-old luxury carmaker, has made more profits in the first half of this year than in the whole of 2021 as buyers snapped up its hybrid models.
The Crewe-based carmaker was buoyed by sales of a new version of the Continental GT and its Flying Spur hybrid, which can drive for 26 miles solely on its battery.
The company made operating profits of €398m (£333m) for the six months to June, up 124pc from a year ago. The half-year total exceeded the €389m the firm made for all of last year.
Revenue per car reached €213,000 per unit, up from €186,000 as customers opted for fancier trims and other personalisation.
The Bentayga luxury SUV remained its most popular model, accounting for two in five cars sold.
The Continental GT Grand Tourer made up a third of sales, followed by the Flying Spur with 27pc.
Adrian Hallmark, the chairman and chief executive of Bentley Motors, said: “Despite the continued global economic instability, it is promising to see Bentley is showing financial consistency as we reinvent the company.”
Despite the roaring start to 2022, Bentley warned that the second half of the year looked “challenging” and said sales in China had slumped following its zero-covid lockdowns.
Sales fell 25pc in China, but a 33pc gain in Europe and a 44pc rise in UK sales meant the company sold 3pc more vehicles in the half overall, at 7,398.
The marque’s owner Volkswagen invested £2.5bn in Bentley’s Crewe factory earlier this year to help with its electrification efforts.
It plans to offer electric-only models by 2030 and will have a purely batterypowered car for sale within the next three years.
Bentley has so far avoided the slowdowns that have been suffered by many mass-market car brands as its parent company has prioritised it for supply of components.
This has allowed it to make more and more cars, soaking up demand from wealthy buyers. Meanwhile, a lingering shortage of computer chips has slashed production of cheaper cars by rivals.