On cloud nine: Bentley witnesses strongest Q1, registers 162% jump in operating profit to $179 million
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The high customer interest in new models has led to the jump, the Volkswagen unit said. The firm has witnessed a record order book of around 10,000 vehicles for the period. The total car sales have actually dropped 5 per cent quarter over quarter due to various factors in Covid pandemic, another report said
Bentley, the luxury British carmaker, seems to be on cloud nine at the moment. The company said on Thursday that its first-quarter operating profit jumped 162% in comparison to the same period last year, as per media reports.
The company has registered a profit of $179 million (€170 million) in the period.
This comes as the 102-year-old carmaker has faced the loss of some cars at sea and has been encountering pandemic-led delivery issues in China.
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The high customer interest in new models has led to the jump, the Volkswagen unit said.
The firm has witnessed a record order book of around 10,000 vehicles for the period.
The total car sales have actually dropped 5 per cent quarter over quarter due to various factors in Covid pandemic, another report said.
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The car sales have reached 3,203 from 3,358 but the revenue per car has hiked from $193,000 (€184,000) to $223,000 (€212,000), as per media reports. It has triggered a boost of around 41 per cent in quarterly revenues and taken it to $855 million (€813 million).
In a statement, Adrian Hallmark, Chairman and CEO of Bentley Motors, said, “These results demonstrate the intrinsic strength of our brand and confirm the ongoing success of our industry-leading Beyond100 strategy. They also suggest even more promise for the transformational years ahead.”
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(With inputs from agencies)