On cloud nine: Bentley witnesses strongest Q1, registers 162% jump in operating profit to $179 million

Bentley, the luxury British carmaker, seems to be on cloud nine at the moment. The company said on Thursday that its first-quarter operating profit jumped 162% in comparison to the same period last year, as per media reports.  

The company has registered a profit of $179 million (€170 million) in the period.  

This comes as the 102-year-old carmaker has faced the loss of some cars at sea and has been encountering pandemic-led delivery issues in China.  

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The high customer interest in new models has led to the jump, the Volkswagen unit said.   

The firm has witnessed a record order book of around 10,000 vehicles for the period.  

The total car sales have actually dropped 5 per cent quarter over quarter due to various factors in Covid pandemic, another report said.

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The car sales have reached 3,203 from 3,358 but the revenue per car has hiked from $193,000 (€184,000) to $223,000 (€212,000), as per media reports. It has triggered a boost of around 41 per cent in quarterly revenues and taken it to $855 million (€813 million).  

In a statement, Adrian Hallmark, Chairman and CEO of Bentley Motors, said, “These results demonstrate the intrinsic strength of our brand and confirm the ongoing success of our industry-leading Beyond100 strategy. They also suggest even more promise for the transformational years ahead.”  

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(With inputs from agencies)