Bentley today announced that 2021 was its best sales year on record, with operating profits rising from €20 million ($21.95 million USD at current exchange rates) in 2020 to €389 million ($426.93 million USD) last year, an increase of 1,845 percent.
Riding a wave of late pandemic luxury spending, Bentley delivered 14,659 vehicles in 2021, a 31 percent increase over its previous record year, 2020. The demand was so high last year that order banks were at record levels at the start of 2022.
“Brand strength has been key to Bentley’s financial performance in 2021, with new models such as Bentayga Hybrid helping to drive profit to a record €389 million,” said Jan-Henrik Lafrentz, head of finance at Bentley. “Increasing demand for our hybridized models, supported by €3 billion of sustainable investment in our Crewe factory, will ensure we remain the benchmark manufacturer in sustainable luxury mobility.”
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Further, Bentley saw an increased level of personalization from its customers and its model lineup includes a number of high-margin models, such as the Speed, Mulliner, and Hybrid editions. That pushed revenue per vehicle up by eight percent over the previous year and helped it achieve a return on sales of 13.7 percent.
Bentley also views the success as a vindication of its plan for the future, which will see it introduce one new electric vehicle per year starting in 2025. It also aims to be end-to-end climate neutral by 2030.
“These results were achieved against a continued backdrop of economic uncertainty,” said Adrian Hallmark, CEO of Bentley Motors. “They represent a major achievement for everybody involved at Bentley Motors, as we push forward with our Beyond100 program to reinvent our entire product range in the build-up to carbon neutrality by 2030.”
