Bentley Q1 earnings soar despite vehicles lost at sea, China delays
Hallmark said absent any further supply chain issues, the company could produce around 15,000 vehicles this year, compared with the 14,659 it sold last year.
First-quarter vehicle sales fell 5 percent to 3,203 from 3,358 a year earlier, with sales down 9 percent in the Americas and 29 percent in China.
But the average revenue per vehicle rose 15 percent to 212,000 euros ($223,257) from 184,000 euros a year earlier, as customers opted for more personalized options. Hallmark said customers have embraced the ability to personalize seat leathers, stitching, seating configurations and a myriad of other options.
“Dealers are doing limited editions, special packages for individual customers, and it’s just getting more and more popular,” he said.
Bentley’s revenues rose 41 percent to 813 million euros versus 578 million a year earlier, and the carmaker’s operating profit rose to 170 million euros from 65 million euros.
Profits were also partly lifted by a restructuring program that began in 2018.