Bentley Reports Revenue Dip, Focuses on Luxury Market
Bentley, the British luxury automaker, reported decreased revenue for 2024, citing challenging market conditions around the globe. However, the company is maintaining its focus on ‘value over volume,’ with an emphasis on bespoke features and electrification to drive future growth.
In 2024, Bentley experienced a 10% drop in revenue, bringing the total to $2.9 billion, down from $3.2 billion the previous year. Operating profit also fell, by 37%, to $407 million. Despite these figures, Bentley highlighted that the average revenue per car saw a 10% increase.
CEO Frank-Steffen Walliser stated that while public sales figures would no longer be disclosed, average revenue per vehicle reached record levels, which indicates the company strategy is working well.
One example is Bentley’s Black Rose Batur, which was a custom commission featuring distinctive black rose exterior paint, a matching interior, and rose gold accents.
Historically a strong market for Bentley, luxury sales in China are currently facing hurdles.
Chief Financial Officer Jan-Henrik Lafrentz addressed concerns regarding potential U.S. tariffs on imported vehicles. Should the Trump administration implement a proposed 25% tariff, Lafrentz indicated that Bentley would pass the cost on to consumers.
Lafrentz also noted that recent stock market fluctuations and general recession fears have not impacted Bentley’s order book as of yet.
Bentley is committed to its electrification plans. The company intends to launch its first electric vehicle in 2026, followed by other all-electric and hybrid models until a full transition is achieved by 2035.
