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Proof that demand for the ultra-luxury marque has sidestepped economic headwinds, profits for the firm swelled to new heights for the second consecutive year.

18 Mar 2023 | International News : U.K.

Bentley just revealed its financial results for 2022, and boy are the digits eye-watering.

The ultra-luxury marque turned a profit of more than S$1 billion (€708 million) for the year, representing an 82% growth in profit. The numbers are all the more impressive when one considers volume grew a marginal 4% in comparison. They are also a far cry from 2018, when a loss of S$412 million (€288 million) was made - indicating how far the company has come since.

Higher specification derivatives and Limited Editionu units helped drive up the return on sales
Credit can be given to the fact that the firm's return on sales shot up to 20.9% (from 13.7% in 2021), making it the best on record in the firm's 104-year history. The most significant factors include higher specification derivatives, the ticking off of more options on the list by customers, and finally, rarer and more expensive units such as Limited Editions and Coachbuilt collectibles.

Bentley also commemorated a bumper year in 2022 by delivering the largest number of cars in the company's history.

15,174 Bentleys were sold across the 12 months, representing the first time the firm crossed the 15,000 mark in a single year.

Amazingly, the Bentayga achieved its best sales year thus far in 2022 - six years after it was first introduced (Pictured: Bentley Bentayga EWB Azure)
Appetite for SUVs has clearly continued to be ravenous, considering that the Bentayga remained the most popular model, accounting for 42% of total sales and selling more in its sixth year on the market than ever before. Recently, Singapore celebrated the local launch of the Bentayga EWB, dubbed by the firm as its ultimate luxury flagship.

The Continental GT and Convertible, on the other hand, accounted for nearly a third of sales, while the Flying Spur - which recently introduced a plug-in hybrid variant to the range - achieved 28% of total sales.

Like arch-rival Rolls-Royce, Bentley is seriously committing to an electrified future. Under its Beyond100 strategy, it is planning a ten-year, S$4.29 billion (€3 billion) investment programme into its factory at its headquarters, Crew, and intends to launch five new BEVs in five years - one per year - starting from 2026.

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