Bentley Motors full year revenue and operating profit fell in 2023 though the company claimed “record levels of interest in luxury personalisation”.
Sales fell 11% to 13,560 units as revenue dropped 13% to EUR2.94bn. Operating profit was off 17% to EUR589m though last year’s results were still the second best on record.
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The automaker noted “three-quarters of customers explored the 46bn different configurations available from the options range to add bespoke content from the Mulliner division”, a 43% rise over 2022.
Higher revenue models accounted for 70% of sales, up from 30% in 2022.
Return on sales fell to 20.1% from 20.9% in 2022, affected by “upfront expenditures for future products, and planned reduced volumes due to life cycle effects”.
Chairman and CEO Adrian Hallmark said in a statement the company now focused on value rather than volume and would adjust to increases or decreases in demand. “We look forward to our major product launch events in the second half of 2024.”
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By GlobalDataThe Bentayga SUV remained the top selling model, accounting for 44% of volume, the Continental GT took 31% and the Flying Spur 25%.
The UK was top market for hybrids with 27% of sales in model lines offering the option.
Bentley reportedly has postponed plans to launch an EV and will focus on hybrids.
