Bentley sales went down due to 'emotional sensitivity', says CEO

The company reportedly sold 13,560 cars in 2023 - an 11% decline from 2022.

According to reports, Bentley sales witnessed a decline in 2023 compared to the previous year. Adrian Hallmark, CEO of Bentley, stated that there were three main reasons for this; first being the weak economy and second, the high interest rates.

The third reason for the decline was the interesting bit. Hallmark acknowledged "emotional sensitivity" as a cause for lower Bentley sales. He stated, "We had an uneven performance for the first time in about four years. Even though our customers can still afford our cars... there was a level of emotional sensitivity that slowed down demand."

The company reportedly sold 13,560 cars in 2023 - an 11% decline from 2022. This dip translates to a 13% loss in year-on-year revenue and a 17% loss in operating profits.

Coming back to emotional sensitivity, a spokesperson from the company clarified, "It’s caution showing displays of wealth in some markets, China, U.K., that are experiencing continued economic and political difficulty." This means that while the rich can financially 100% buy a Bentley, they are cautious to be socially seen in one.

Having said that, reports also showed that while the brand faced a decline in sales, its higher specification derivatives like the Azure S and Speed models accounted for 70% of all sales last year, compared to 30% in 2022.

Source: TheDrive