Bentley Motors Ltd., Volkswagen AG’s U.K. luxury unit, on Wednesday announced record profit of 167.7 million euros (£139.7) up 66.9 percent compared to 2012, its strongest ever performance.
Turnover grew by 15.5 percent to €1.68 (£1.40) billion, the highest in Bentley’s history. Profit margin increased from 7 percent to 10 percent. Last year, the British firm sold a record-breaking 10,120 luxury cars – up 19 percent on 2012. In addition Bentley already sold 1,408 new cars in the first two months of 2014.
“Customers all over the world continue to be very enthusiastic about Bentley. The luxury car market is not static. We will continue to make sure that Bentley will meet the changing needs of our discerning customers,” Dr Wolfgang Schreiber, Chairman and Chief Executive of Bentley Motors, said.
The Crewe based automaker announced that will start selling its first SUV in 2016 – as part of a plan to expand global deliveries by about 50 percent by 2018.
There are about 2,000 preorders for the SUV.
United States remains the largest market for the automaker (31 percent market share), followed by China with 22 percent market share and Europe 15 percent.
Globally Bentley operates 193 dealers in 54 countries and expects to increase this number to 220 by the end of 2014.