Bentley Motors is celebrating a record sixth consecutive year of profitability while laying ground on its new BEV assembly line in the oldest building at the Pyms Lanes site.
The company reached the highest revenue per car, which has increased 10% in the past two years, thanks to the site investment expenditure, record levels of personalisation and 70% of customers choosing a Mulliner bespoke option.
This generated €2.648 billion (A$4.561 billion), and an operating profit of €373 million. It also resulted in 14.1% in return on sales, one of the best in the automotive industry.
Bentley Motors chairman and CEO, Frank-Steffen Walliser said that last year marked a milestone in the company's transformation towards an electric future.
“We are investing at levels never seen before at Bentley, as we not only revolutionise our product cycle plan but also transform an 85-year-old site for a new age of electrification,” he said.
“These are the critical foundations that will build our long-term sustainability and success.”
He said 2024 brought them to new heights and has kept them optimistic about the future, despite the difficult market, political and economic environments.
“We have reached record levels of revenue per car, a well-balanced export strategy and a clear structure to maximise personalisation.” Walliser said.
“This added to a full-year availability of our new plug-in hybrid Continental GT and Flying Spur models gives us a great deal of optimism and will have a significant, positive impact on our order bank and sales as we continue through the year.”
The construction of the new Pyms Lane factory has begun and follows the recent opening of the state-of-the-art Excellence Centre for Quality & Launch and a new Paint Shop, offering an expanded paint colour choice to customers, nearing completion later this year.
At the time of writing, Volkswagen Group Common Stock (ETR: VOW3) stock was trading for €101.45, down 1.31% from the previous close of €102.80. The company’s market cap is €55.89 billion.
