Bentley gets good headstart with P53-B revenue in Q1 2023

Bentley has had a good headstart in 2023 thanks to an €882 million (approximately P53.836 billion) revenue it raked in the first quarter of the year.

The number, the British automotive marque explained, translates to a nine-percent increase in Bentley’s first quarter earnings in the same period in 2022.

“Despite a challenging global environment, we started 2023 where we left off in 2022, with another solid set of financial figures, driving growth in revenue, operating profit, and return on sales,” Bentley Motors Chairman and Chief Executive Officer Adrian Hallmark was quoted saying.

Bentley also pointed out that its first quarter figures reflect strong performance in global sales, which increased by 10 percent with 3,517 deliveries made from January to March of the year.

Region-wise, Bentley reported that the United States market showed a 39-percent increase in sales compared to the same timeline in 2022. Likewise, the Asia Pacific and the Middle Eastern markets also grew by 11 and 66 percent, respectively.

“Bentley’s record performance in the Americas is also especially notable, with one in three of our luxury cars now sold in the region. The introduction of the Bentayga EWB (extended wheelbase), plus the success of the Flying Spur sedan, have been key to this growth,” continued Hallmark.

The latest global figures and demand for new models, the Crewe-headquartered brand explained, provide Bentley with self-funding for its ground-breaking Beyond100 strategy, to lead sustainable luxury mobility in the future. That includes a €3 billion (around P166.543 billion) investment in its Crewe factory, as well as launching five new battery-electric vehicle models in just five years, starting in 2026.

“Looking ahead, although our well-balanced distribution model shows signs of encouragement that this success can be continued, we remain cautious about global challenges that remain in the markets,” the Bentley Chief Executive concluded.

Photos from Bentley

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