Bentley sales are down thanks to ‘emotional sensitivity,' CEO says

After experiencing four years of consecutive sales growth, sales of ultra-expensive Bentley cars and SUVs saw an 11% decline last year. Bentley’s CEO attributed this decline to the “emotional sensitivity” among the brand’s wealthy customers, who were particularly concerned about high interest rates. Data shows that 30% of customers leased Bentleys last year, a significant increase compared to the previous year. This indicates that even affluent buyers are sensitive to monthly car payments. Monthly payments for luxury cars like Bentleys can be much higher than average, prompting customers to choose leasing options to keep costs down. Despite the sales decline, Bentley still outperforms costlier brands like Rolls-Royce. Lamborghini, another brand under the Volkswagen Group, experienced record-breaking sales and profits last year, attributed to an increasing number of ultra-wealthy individuals. Similarly, Ferrari reported a record profit in 2023. Although Bentley sold fewer cars last year, customers tended to opt for more expensive models, often customized to their preferences.