Bentley sales fall 11% on slow luxury market

British luxury carmaker Bentley on Friday reported an 11% drop in vehicle sales for 2023 as high-end consumers felt the pinch of rising costs and slowing economies, with sales down in its top three markets — Europe, the Americas and China.

“The luxury market was not immune from the challenging market conditions seen around the world in the second half of 2023,” CEO Adrian Hallmark said in a statement. “We remain cautiously optimistic for the year ahead, with a continued robust global demand by market and model.”

Bentley said that despite the overall sales decline, personalised and bespoke content in vehicles rose 43% versus 2022. Adding custom finishes, such as leather and wood, means higher margins for Bentley.

Other luxury sellers such as Watches of Switzerland and Burberry have also warned of a slowdown in demand for high-end goods.

Bentley sold 13,560 cars in 2023, a year after the automaker cruised to record sales in 2022.

The British luxury unit of Volkswagen said sales were down 9% in the Americas, its leading market, while China and Europe dropped 18% and 15% respectively.

The Bentayga SUV remained Bentley’s number one model, accounting for 44% of sales, followed by the Continental GT and GT Convertible (31%) and Flying Spur (25%). 

Reuters