RE: Bumper Bentley profits announced (again)
Friday 29th July 2022
Bumper Bentley profits announced (again)
Despite many global challenges, Bentley has beaten last year's profits in just six months
The world’s in a spot of bother right now. War, political turmoil, financial turmoil, global warming, and not to mention the very sad passing of the lovely Bernard Cribbins yesterday. But there is at least one fillip to this lousiness: Bentley has just posted its latest results. And for the first half of 2022, all’s been bright and breezy.
Operating profits we up 124 per cent compared with the same period last year, at a dizzying €398 million. That's against €389 million for the whole of 2021, which was already logged in the ledger as a bumper year.
That €398 million was on a turnover of €1.707 billion, which was another sizeable step up from the €1.324 billion it recorded in the first half of last year. The increase was partly the result of higher revenue per car, which is now at €213,000 instead of €186,000. Bentley says this is down to its push on personalisation programmes. It also states that no other luxury automotive brand sells more cars than it does in the €200,000 to €250,000 range. Its return on sales was also around 10 per cent higher than this this time last year, at 23.3 per cent – another record.
Guess what its best-selling model was? Yep, that’s right, the SUV. It was bound to be really. The Bentayga accounted for 40 per cent of total sales, followed by the Continental GT (both body styles), with the Flying Spur hitting 27 per cent. Funnily enough, we’ve only just tested one of those – the latest Flying Spur Hybrid that's broadened the model's appeal.
Another no-brainer is that the Americas were its strongest market, but with just a one per cent growth since last year. And China was down a quarter, thanks to more Covid lockdowns, which makes the company’s record sales even more impressive. The Middle East was also suppressed at nine per cent below last year, with the growth being driven by the UK (up 44 per cent), Europe (up 33 per cent) and Asia Pacific (up 18 per cent). Overall, sales were up three per cent to 7,398.
Chairman and CEO of Bentley Motors, Adrian Hallmark, said, “Despite the continued global economic instability, it is promising to see Bentley is showing financial consistency as we reinvent the company in line with our Beyond100 strategy and form a basis to withstand further external shocks. In particular, a significant increase in demand and capitalisation of our Mulliner personalisation programme has driven record return on sales, and continued global interest in the freshest model line in the luxury sector has resulted in record high revenues.”
He also expressed warm words for the staff, saying, “I would like to thank our hard-working colleagues for their continued efforts, as Bentley continues its ground-breaking transformation towards an electrified future, financial independence and to be the leader in sustainable luxury mobility.”
Discussion
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
Well done them but sadly ironic coming out on a day when Aston Martin released another set of miserable results.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
BigChiefmuffinAgain said:
Well done them but sadly ironic coming out on a day when Aston Martin released another set of miserable results.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Aston Martin can survive as an independent, it just needs to produce desirable cars.Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
FlukePlay said:
BigChiefmuffinAgain said:
Well done them but sadly ironic coming out on a day when Aston Martin released another set of miserable results.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Aston Martin can survive as an independent, it just needs to produce desirable cars.Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Desirable sports cars, GTs and Saloon cars only go so far, ask Porsche and Lamborgini.
FlukePlay said:
BigChiefmuffinAgain said:
Well done them but sadly ironic coming out on a day when Aston Martin released another set of miserable results.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Aston Martin can survive as an independent, it just needs to produce desirable cars.Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
While it would be lovely if they could "just produce desirable cars", it is simply not that easy and I can't see where they would get enough money to do so now
sidesauce said:
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
You called? I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
No, you're absolutely correct - it's a different league and they've managed it superbly. More brand turnarounds fail than succeed, but VAG are experts at it.
No wonder Jaguar is looking enviously for a slice of the action.
BigChiefmuffinAgain said:
Well done them but sadly ironic coming out on a day when Aston Martin released another set of miserable results.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
I tend to agree although I wonder if the onset of electrification will cut a lot of the big costs out for smaller manufacturers. EVs are a lot less complex than an ICE car. EVs, basically, are a platform with the batteries and then suspension on the corners. After that it is body and software.Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
sidesauce said:
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I think you’re spot on here. Bentley made a functional, ultra-luxurious SUV for their customers. It wasn’t trying to do anything else apart from waft, at speed, carrying the passengers in extreme comfort. It certainly wasn’t trying to be overly showy. I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I’m not a fan of SUVs generally but I’ve been in a Bentayga and I was partly converted. If I were to cross continents in comfort that would be my choice. Ok, it looks pretty dumpy on the outside but, boy, does it do what the customers want.
sidesauce said:
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I don’t understand how that description of the Bentayga isn’t valid just because it sells.I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
British Beef said:
FlukePlay said:
BigChiefmuffinAgain said:
Well done them but sadly ironic coming out on a day when Aston Martin released another set of miserable results.
Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Aston Martin can survive as an independent, it just needs to produce desirable cars.Suspect shows that the only way for AM ( and Maclaren ) to survive is if they can find safe haven as part of a larger automotive company - aside from Ferrari, who are in a league of 1, no one else can manage as a small independent in today's world.
Desirable sports cars, GTs and Saloon cars only go so far, ask Porsche and Lamborgini.
Aston Martin's offering is nice, but is far to restrained and subtle for the buyers who want a DFS on wheels with chrome whistles like a Bentayga buyer.
Jon556 said:
sidesauce said:
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I don’t understand how that description of the Bentayga isn’t valid just because it sells.I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
People griping about the Bentayga are offering an opinion which isn't factual - clearly a LOT of actual clients who buy them like them and therefore the only thing that counts is the money made from the sale of them, so any negative opinions regarding the Bentayga are simply irrelevant to the main objective from a profit point of view which, as I said, is the main purpose of any business. Notice I said 'irrelevant', not 'invalid'.
These cars are not like art where they exist for the sake of existing as a symbol of human expression, they have to have a useful function (which they do) and therefore if the ultimate brief is fulfilled (make money and profit for Bentley/VAG), that is quite literally the primary concern that matters to the business.
Edited by mrclav on Friday 29th July 13:53
mrclav said:
Jon556 said:
sidesauce said:
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I don’t understand how that description of the Bentayga isn’t valid just because it sells.I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
People griping about the Bentayga are offering an opinion which isn't factual - clearly a LOT of actual clients who buy them like them and therefore the only thing that counts is the money made from the sale of them, therefore any negative opinion regarding is simply irrelevant to the bottom line from a profit point of view which, as I said, is the main purpose of any business. Notice I said 'irrelevant', not 'invalid'.
These cars are not like art where they exist for the sake of existing as a symbol of human expression, they have to have a useful function (which they do) and therefore if the ultimate brief is fulfilled (make money and profit for Bentley/VAG), that is quite literally all that matters to the business.
Jon556 said:
mrclav said:
Jon556 said:
sidesauce said:
People on here love to criticise Bentley (and VAG) constantly, complaining about the Bentayga being ugly, too bling, too heavy, pointless etc; this news just goes to show how little they know about how to manage a luxury brand well and also what people who actually have the means to purchase these cars really want.
I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
I don’t understand how that description of the Bentayga isn’t valid just because it sells.I'm also happy that for the workers in Crewe, they still get to feed their families for the foreseeable future.
More power to all of them.
People griping about the Bentayga are offering an opinion which isn't factual - clearly a LOT of actual clients who buy them like them and therefore the only thing that counts is the money made from the sale of them, therefore any negative opinion regarding is simply irrelevant to the bottom line from a profit point of view which, as I said, is the main purpose of any business. Notice I said 'irrelevant', not 'invalid'.
These cars are not like art where they exist for the sake of existing as a symbol of human expression, they have to have a useful function (which they do) and therefore if the ultimate brief is fulfilled (make money and profit for Bentley/VAG), that is quite literally all that matters to the business.
mrclav said:
o-one said there cannot be negative (or positive) opinions but I'm saying opinions against the Bentayga are utterly irrelevant - all that matters to Bentley and VAG is that they continue to be profitable.
We don’t know that. If Bentley made the Bentayga good looking they would’ve likely sold more.Gassing Station | General Gassing | Top of Page | What's New | My Stuff