Bentley marks sixth consecutive year of profitability in 2024

Crewe-based Bentley Motors last week laid the ground on its new BEV assembly line located in the oldest building at its Pyms Lane site while announcing its sixth consecutive year of profitability with record levels of personalisation. The luxury carmaker has self-financed a record site investment that underlines a long-term commitment to UK manufacturing as Bentley prepares to introduce its first BEV to the market in 2027.

Balancing the site investment expenditure, record levels of personalisation - with 70% of customers choosing a Mulliner bespoke option - resulted in the highest ever revenue per car, increasing 10% in the past two years. This generated a revenue of 2,648 billion euros, and an operating profit of 373 million euros. A return on sales of 14.1% – one of the best across the automotive industry - reflected upfront expenditures for future products and planned reduced volumes due to lifecycle effects.

Bentley’s latest financial performance supports the company’s industry-leading Beyond100+ strategy, as it drives towards self-funding its ambition of being exclusively electric by 2035 and introducing a new hybrid or electric model every year for the next decade.

2024 was a year of transition for Bentley’s brand-defining Continental GT model. The third generation gave way for the fourth meaning the end of W12 engine production in Crewe and the introduction of an all-new ultra-performance V8 hybrid powertrain. This was also introduced in the Flying Spur four-door sedan towards the end of the year. Both were launched initially in highly positioned Speed and Mulliner derivatives. Lower powered derivatives will follow in 2025.

Transformative year
Dr Frank-Steffen Walliser, chairman and CEO of Bentley Motors, said: “Last year marked a milestone year in our transformation as we prepare for our electric future. We are investing at levels never seen before at Bentley, as we not only revolutionise our product cycle plan, but also transform an 85-year-old site for a new age of electrification. These are the critical foundations that will build our long-term sustainability and success.

“Despite global challenges in 2024 and the run out and replacement of three of our four model lines, financial resilience measures introduced towards the end of the last decade ensured a sixth year of consistent profitability.”

He continued: “Looking forward to 2025, of course we continue to navigate difficult global market conditions and maintained volatile political and economic environments, however our strength of sales is strong. We have reached record levels of revenue per car, a well-balanced export strategy and a clear structure to maximise personalisation. This, added to a full year availability of our new plug-in hybrid Continental GT and Flying Spur models gives us a great deal of optimism and will have a significant, positive impact on our order bank and sales as we continue through the year.”

Confirming Bentley’s long-term commitment to Crewe, work today continues on the luxury marque’s carbon-neutral Pyms Lane factory and the brand’s preparations for BEV production. Construction is now underway to transform A1, the oldest building on site, to become the future BEV assembly line.

The new facilities aim to set a new benchmark in next-generation, digital, flexible and high-value manufacturing operations. This follows the recent opening of the ‘state of the art’ Excellence Centre for Quality and Launch and a new paint shop, offering an expanded paint colour choice of near 100 individual colours to customers, nearing completion later this year. These investments consolidate Bentley’s long-term commitment to its Beyond100+ strategy and UK manufacturing for generations to come.