The company delivered 13,560 cars in the year, a drop of 11% on the previous year and the third highest retail figure in its history. Operating profit reached €589 million, a decline of 17% year-on-year.

Return on sales totalled 20.1% for 2023, falling from 20.9% in 2022 as the company was reportedly impacted by upfront expenditures for future products and planned reduced volumes due to life cycle effects.

The Bentayga remained Bentley’s number one model, making up 44% of the total sales, while the Continental GT and GT Convertible accounted for 31% and the Flying Spur made up 25%.

The Americas maintained its position as the company’s biggest selling global market despite challenges and Bentley’s home market of the UK became its number one selling region for hybrid models by proportion at 27%.

Chairman and CEO Adrian Hallmark said: “Last year marked a further positive performance in our transformation journey, despite an increasingly volatile geopolitical and business environment. We took another big step forward on our strategy to focus on customer value rather than volume, and our well-balanced export success, disciplined cost management and ability to maximise personalisation proved our resilience and strong foundations to build upon.

“With uncertain market conditions set to continue during the year ahead, we will adapt our business model to ensure we remain in a balanced position, ready to adjust to increases or decreases in demand. Our focus on value over volume will be further strengthened and we look forward to our major product launch events in the second half of 2024.”