Slowdowns in the Chinese and Middle Eastern markets continued to impact Bentley’s sales in Q1. The company announced year-over-year drop of EUR -54 million in profit due to slowed vehicle sales.
Bentley sold 2,033 vehicles in the quarter, a drop of 23%. Rolls-Royce also recently reported a similar impact on sales. Their Q1 sales dropped reported a fall in sales of 29%, with 551 cars sold.
Bentley’s numbers put them off pace from annual sales of 10,000 luxury cars, something they’ve achieved the past three years. With the launch of the Bentayga, Bentley hopes to achieve 15,000 cars sold by 2018. Customer deliveries have only begun last month, so they are not reflected in these sales numbers.
The company has invested heavily in its Crewe, UK, facilities to increase capacity and bring new vehicles to market. This includes a new Continental GT and Flying Spur replacement, which would join the Bentayga to grow sales.