CORPORATION: In 2023, a total of 13,560 remarkable automobiles were dispatched, contributing to an impressive economic performance with an overall income tally of €2.938 billion.
Operational earnings soar to €589 million with a profit margin of 20.1 percent prompted by beneficial assortment ramifications from elevated specification derivatives, amplified option acceptance, and the transaction of Limited Editions and Coachbuilt mementos
(Crewe, 19 March 2024) Bentley Motors today divulged financial performance for 2023 that were heavily shaped by unprecedented levels of enthusiasm in deluxe customization. Operational proceeds escalated to €589 million as three-quarters of patrons explored the 46 billion varied configurations accessible from the options array to append personalized content from Bentley’s Mulliner division, denoting a 43 percent surge over 2022.
The opulent marque posted revenue of €2.938 billion as patrons were additionally drawn to higher-revenue models such as Azure, S, and Speed. The assortment of these reached 70 percent, up from 30 percent in 2022. Bentley dispensed 13,560 automobiles in 2023, its third-highest retail tally in history.
Profit margin reached 20.1 percent in 2023, a negligible descent from 20.9 percent the prior year, impacted by initial outlays for forthcoming products and designed diminished volumes due to life cycle influences.
Bentley’s freshest economic performance bolster the company’s industry-leading Beyond100 tactic as it progresses towards self-funding the metamorphosis of its entire product range to electric and attaining carbon neutrality by 2030.
Adrian Hallmark, Chairman and CEO of Bentley Motors, remarked:
“Last year marked a further constructive economic performance in our transformational journey, notwithstanding an increasingly unpredictable geopolitical and commercial environment. We took another substantial stride forward on our strategy to concentrate on patron value rather than volume, and our well-balanced export triumph, disciplined cost administration, and capability to maximize personalization validated our resilience and sturdy foundations to build upon.
“With ambiguous market conditions set to endure throughout the ensuing year, we will modify our business model to ensure we remain in a balanced stance, primed to adapt to augmentations or reductions in demand. Our focus on value over volume will be further reinforced, and we anticipate our major product launch occasions in the latter half of 2024.”
The inclination for SUV procurement persisted as Bentayga remained Bentley’s leading model, constituting 44 percent of overall sales volume and consolidating its standing as the most triumphant luxury SUV globally. Moreover, sustained appeal endured for the Continental GT and GT Convertible, constituting nearly a third of sales, 31 percent, with the Flying Spur, the world’s preeminent luxury four-door grand tourer, reaching 25 percent of total sales volume.
Despite daunting conditions in key regions globally, the Americas sustained its standing as the foremost selling global market. Interestingly, Bentley’s domestic demand in the UK now ranks as the leading selling territory for hybrid models by proportion, with 27 percent of sales from pertinent model lines in 2023 selected as a hybrid option.
Historical five-year performance
YEAR RETAILS REVENUE (€) OPERATING (€)
2023 13,560 (-11%) 2.938 billion (-13%) 589 million (-17%)
2022 15,174 (+4%) 3.384 billion (+19%) 708 million (+82%)
2021 14,659 (+31%) 2.845 billion (+39%) 389 million (+1845%)
2020 11,206 (+2%) 2.049 billion (-2%) 20 million (-69%)
2019 11,006 (+5%) 2.092 billion (+35%) 65 million (+123%)
