Bentley Expects to Double Annual Sales Until 2017 image

Bentley CEO Wolfgang Duerheimer declared that he expects annual sales to double until 2017 due to several factors, such as the company’s expansion into new markets, the U.S. recovery and the rise of wealthy customers in China.

China is expected to outdo the U.S. this year and become Bentley’s biggest sales region, since Bentley’s sales in China nearly doubled to 1,839 vehicles in 2011. Although China is expected to take the top spot this year, the improving economy in the U.S. is also contributing to an increase in sales.

The company’s sales climbed 32% to 2,021 vehicles in 2011, and Bentley seeks to achieve yearly sales of 15,000 within five years, an increase from 7,003 units sold last year. The company’s CEO declared that 2007 was the company’s best year with 10,014 units sold and that the growth for 2012 is predicted to be in the double-digits, particularly an increase of over 10% in China and the U.S. in 2012.

Duerheimer, Bentley’s CEO, predicts the company will raise its sales in mainland Europe and in growing markets like Russia. In 2011, Bentley sold 1,187 units in continental Europe, accounting for about 17% of its sales and 1,031 vehicles in the UK, which means that it sold nearly as many Bentleys in the UK as in mainland Europe.