Demand for Bentley and fell in China
2022.12.07 11:59
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Demand for Bentley and fell in China
Burigannews.com – (ETR) Volkswagen ‘s Bentley expects a slight drop underway in 2023 as closures in China have eased back orders, the English extravagance carmaker’s CEO said on Wednesday.
According to CEO Adrian Hallmark, customers are still placing orders, but they were not doing so during lockdowns in major cities like Beijing and Shanghai, which account for a significant portion of Bentley’s orders in China.
Hallmark stated at the Bentley headquarters in Crewe, England, “We’re not talking about a massive drop off… we have more than half of next year sold out already.” Although we are not in crisis mode, we must remain vigilant.
This year, Bentley will produce approximately 15,000 automobiles, and the factory in Crewe has been operating at full capacity. In the past four years, it has improved its operations by cutting costs by more than 25% and increasing sales by 40%.
Although he did not completely rule out the possibility that Bentley would follow Porsche, a Volkswagen unit that was listed in October, Hallmark stated that Bentley was unlikely to do so.
Nothing is being planned regarding an IPO. You never know, so never say never again. However, that is not the plan.
Hand-stitched leather, finishes like walnut and koa, and even 5,000-year-old wood from England’s fens have become increasingly important to Bentley. This has increased the company’s average pre-tax car price by nearly 30%, from 170,000 euros in 2018 to 220,000 euros (or $231,000) this year.
It intends to introduce its first fully electric vehicle in 2026, and it will continue to introduce an electric model annually until 2030, when it will offer an all-electric model lineup.
According to Hallmark, the majority of Bentley customers will embrace the power, but some customers who prefer its big combustion-engine models will initially refuse to go electric.
He stated, “We will lose some customers.” But if you talk it through, even the most obstinate petrolheads can see the value of electrification, so I think the loss should be small.”
