Record first quarter for Bentley

Worldwide
Published:  10 May, 2022
Credit: Bentley

Bentley Motors has announced its financial results for the first quarter of 2022, with operating profits up 162% to €170 million.

This result mirrors the second-best full-year profit the company has ever had, and follows its record 2021 results.

Record revenue for the period was €813 million while return on sales reached 21% during the first quarter, all despite sales performance taking a hit from global events.

During the first three months of the year, Bentley saw revenue per car increase from €184,000 to €212,000, with significant interest in Mulliner and Speed derivatives, particularly in Europe where total sales rose by 38%.

Globally, Continental GT sales increased by 10%, with strong performance in the Asia Pacific region and in the brand’s home market of the United Kingdom in particular.

Adrian Hallmark, Chairman and CEO of Bentley Motors, said: “Despite a challenging global environment, we started 2022 where we left off in 2021, with another solid set of financial figures. This has been driven by strong revenue growth, thanks to our fresh and exciting new model portfolio, a significant increase in demand for Bentley’s personalisation programme, and strong growth in sales of our new hybridised products.

The combined effect of this revenue together with a restructured business model has enabled us to deliver industry competitive returns on sales and investment. These results demonstrate the intrinsic strength of our brand and confirm the ongoing success of our industry leading Beyond100 strategy. They also suggest even more promise for the transformational years ahead.”