Bentley reports its lowest annual revenue since 2020, citing difficult global markets in 2024. Volkswagenannounced its operating profit was $407 million, down 37% from $589 million the previous year. In addition, revenues fell 10% to $2.9 billion from $3.2 billion in 2023.
Despite the decline, Bentley highlighted its focus on “value of quantity” which increases revenue per car by 10% compared to 2023. The company is attributing this growth to investing in bespoke features and increasing both the price and profit margins of its vehicles.
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CEO Frank Stephen Waller publicly told reporters that Bentley would no longer disclose sales numbers, but emphasized that average revenue per vehicle has reached record levels. Bentley’s stunning.”Black roseBatur is a great example of this trend. The vehicle was a special customer committee featuring custom black rose exterior paint, matching interior, 210 grams of distinctive 3D printing and 18 carat rose gold, with key driver touchpoints.
China’s luxury market, historically a strong Bentley market, remains challenging. Chief Financial Officer Jan-Henrik Lafrentz addressed concerns over potential US tariffs on imported vehicles. He said Bentley would hand the costs to consumers if the proposed 25% tariff was implemented by the Trump administration. Lafrenz also commented on current economic uncertainty, saying that recent stock market fluctuations and fears of recession have not yet affected Bentley’s order form.
Looking ahead, Bentley continues to be committed to that transition Electrification. The company is set to launch its first electric vehicle in 2026, with new electric or hybrid models expected to continue each year until it fully transitions to the entire electric lineup by 2035.
