Report – Bentley lifts short-term sales target image

Volkswagen AG, the second-largest global automaker and the biggest in Europe, has a slew of great brands under its belt, among them being the British ultra-luxury Bentley.

The UK-based luxury division has apparently lifted its sales forecast for the period to 2020, according to a Frankfurter Allgemeine Zeitung report, buoyed by increased expectations for great sales from its planned new models. Chief among them sits the upcoming sport utility vehicle, the first ever for the brand, which comes amid high deliveries worldwide in the segment. The German newspaper, which quoted the carmaker’s chief executive Wolfgang Duerheimer, said Bentley has now lifted its sales goal to 20,000 units delivered yearly by 2020 – double the figure reported last year. It’s also an increase from the previous target for the period, which cited an expansion of the division’s worldwide deliveries to 15,000 vehicles by 2018.

The top executive further said that the brand’s sales, revenue and profit might all rise even faster this year, up from 2013’s around 11,000 deliveries, which led to revenue and operating profit of 1.68 billion euros ($2.1 billion) and 168 million euros respectively. The VW AG brand, which has a 95 year-old history and was once the sister of BMW’s Rolls-Royce, is in the midst of a model expansion, with expected annual sales of at least 3,000 units for the fourth vehicle in the range and mulling the possibility to add another one, to form the fifth line.

Via Reuters