Bentley posts €261m profit despite 23% dip in H1 2024 sales

Bentley Motors has reported its financial results for the first half of 2024, revealing an operating profit of €261 million and total revenue of €1.388 billion.

Despite these impressive figures, the luxury British automaker saw a decline compared to the same period last year, with profits down 33% from €390 million and revenue falling 17% from €1.681 billion.

From January to June 2024, Bentley delivered 5,476 cars globally, marking a 23% decrease from the 7,096 vehicles sold during the same period in 2023. The Bentayga SUV, including the Bentayga EWB models, continued to be Bentley’s best-selling vehicle, making up 41% of the total sales. The Continental GT and GTC accounted for 34% of sales, while the Flying Spur sedan comprised the remaining 25%.

The Americas remained Bentley’s most robust market with 1,652 deliveries, though this represented a 20 per cent drop from the previous year. The Chinese mainland, Hong Kong, and Macau followed with 1,311 cars sold, down 13%, and Europe saw 1,054 units delivered, a 21% decline.

Jan-Henrik Lafrentz, Member of the Board for Finance and IT, commented on the results: “Despite a challenging first half of 2024, our half-year results provide a platform to remain focused on delivering our key strategic initiatives and investment plans, including the transformation of our product portfolio to fully-electric in the years to come.”

“We remain cautious and anticipate continued difficult trading conditions in some key markets. However, we are seeing a great deal of optimism for the recently launched Continental GT Speed and expect this to have a significant, positive impact on our order bank numbers later this year and early in 2025 as the car enters global markets,” Lafrentz added.

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