Bentley’s First Half of 2021 Has Been More Profitable Than Any Full Year Before
It only takes 7,199 Bentleys to net $1.57 billion in revenue, and profits are trending higher than ever.
Luxury car brand Bentley has been making big changes this year, like stepping further into electrification and making more money than it ever has before. This might be a bit surprising during a chip shortage where automakers are struggling to meet production demands, plus the ongoing global health crisis. You'd probably think there's a whole load of better things to spend cash on than a Bentley right now, but that's where some people will tell you you're wrong.
That's because you're, like most of us, not rich. There's been a huge boom in luxury markets throughout the pandemic, with people who have more money than they know how to deal with suddenly not being able to spend it on hotels and private jets. So sure, let's add a few Flying Spurs or whatever to the garage, darling.
Bentley recently posted its profits for the first six months of 2021. Remember, this has been a hellish period for the world's automakers as production has had to be halted repeatedly. They've even been leaving cars unfinished so they can at least be prepared for when the global semiconductor shortage ends.
Not at Bentley, though. It says its revenue for the first six months of 2021 was $1.57 billion (€1.32 billion), which resulted in profits of $211 million (€178 million). That's more in just six months than its previous best entire year.
Bentley says its prior best had been 2014's first six months, when it raked in $109.7 million of profit, getting to a year-end figure of $201.7 million. Both those figures have, obviously, been smashed by the first half of 2021, against almost all odds for a car brand that hasn't always been the sexiest out there.
Thing is, if you're Bentley, you don't need to match Ford production numbers to make that much scratch. Over six months, it sold 2,155 cars in China, 2,049 in the Americas, and 1,142 in Europe. As for Asia-Pacific, Bentley sold 778 cars there, plus 554 to the United Kingdom. Across the Middle East, Africa and India, volume numbered just 521 units. That's 7,199 cars to turn more than one and a half billion in revenue.
Who's buying them? Well, plenty of people got rich or even richer during the pandemic. And Bentley says it managed its semiconductor supply well enough to make sure it could get the cars to anyone who's willing to pay. When you're talking about such low numbers you need to get hold of, the supply chain issue's a lot smaller than if you're, say, Toyota.
Bought a Bentley? How is living like that? Tell me on firstname.lastname@example.org