British luxury car maker Bentley says it’s braced for a “challenging” second half of the year after posting a drop in sales for the first six months of 2023.
This was down to “continued economic uncertainties”, which have affected the supply of parts and created “difficult trading conditions” for the Crewe-based manufacturer – something it expects will continue.
Despite the 302-car fall in sales (to 7096, -4% on 2022), the firm held onto its eight-month-long order book, which, it said, showed demand hadn’t waived.
This was backed by revenue (£1.44 billion, -2%) and pre-tax profits (£33.3 million, -2%) remaining stable, with any larger drop averted by the increased demand for personalisation from its Mulliner division.
This resulted in an average selling price of £225,000 per car, up from £213,000 in the same period last year. A push for exclusive and limited-edition models, such as the Bentley Continental GT Le Mans special and the £1.5m coachbuilt Bentley Mulliner Bacalar, added to this rise.
The Bentley Bentayga SUV was again the brand’s most popular model, with 44% of total sales (3122). The Bentley Flying Spur accounted for 24% (1703) and the Bentley Continental GT and Bentley Continental GTC combined for 32% (2271).
Across the globe, the drop in sales was seen mainly in China (1512 units, -7%), mainland Europe (1340, -12%) and the UK (688, -13%). The Americas – Bentley’s biggest market – accounted for a scant three-car drop to 2065. Only the Asian-Pacific (963, +5%) and Middle Eastern (528, +11%) markets posted rises in sales.
Boss Adrian Hallmark called the results “positive” but sounded a note of caution. “The positive results for the first six months are largely a reflection of a consistent order bank amassed over the previous months and years. Although our current order run rate is good, it is slightly down on the highs we reached in some of our key markets last year.
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