Bentley: A Legacy of Luxury and Speed, Now Electrifying the Future
Crewe, England – Bentley, the storied British marque known for its handcrafted, ultra-luxury rides, is experiencing its strongest sales ever in its 102-year history. While the brand remains synonymous with powerful 12-cylinder engines and top speeds exceeding 200 mph, Bentley is now embarking on a bold transformation, shifting its focus to electrification and sustainability.
The success of Bentley, a brand rarely seen outside of the wealthiest zip codes, is undeniable. With its most affordable models starting around $175,000, Bentley consistently attracts discerning buyers who appreciate its commitment to both performance and bespoke customization. The brand claims there are "17 billion ways" to specify options on a Continental GT, and its Mulliner division offers even more exclusive, hand-built models with price tags reaching millions of dollars.
The brand’s history is steeped in racing heritage. Founded in 1919 by Walter Owen Bentley, who sought to build cars with both quality and high performance, Bentley quickly achieved success on the racetrack, including legendary victories at Le Mans in the 1920s. After a period of ownership by Rolls-Royce, Volkswagen Group acquired Bentley in 1998. While the brand shares similarities with Rolls-Royce, Bentley distinguishes itself by placing a heavier emphasis on performance alongside luxury, a fact reflected in its robust V8 and V12 engine options.
However, Bentley’s success is not without challenges. It faces fierce competition from other luxury brands like Rolls-Royce, Mercedes-Maybach, Ferrari, Lamborghini, and Aston Martin. Bentley maintains its unique position, carving out a niche for itself by offering an unparalleled blend of performance, luxury, and exclusivity.
The decision to transition to electric vehicles (EVs) is a critical step for Bentley. The company is facing increasing pressure from regulators and consumers to reduce its carbon footprint. While some automotive enthusiasts argue that the soul of Bentley lies in the roar of its iconic engines, Bentley is confident that its commitment to sustainability will not compromise its core values.
"To kill every nameplate that we have, every engine that we have, and rip out the factory…is a once in a lifetime opportunity," said one Bentley executive, acknowledging the enormity of the task ahead.
Bentley’s strategy for electrification includes a phased approach. The Flying Spur and Bentayga are already available as hybrids, with the Continental hybrid set to debut in 2023. By 2025, Bentley plans to launch its first fully electric model, which it claims will be the world’s first carbon-neutral luxury car. This ambition extends to the entire production process, including sourcing carbon-neutral components and implementing sustainable manufacturing practices.
The company’s commitment to sustainability goes beyond its vehicles. Bentley’s factory in Crewe, England, has been carbon-neutral since 2019. The brand also invests in research and development for fully recyclable electric powertrains.
"We could see either an existential threat to luxury consumption or we could be role models for sustainability," said another Bentley executive.
While Bentley’s transition to EVs is ambitious, the company has a history of exceeding expectations. Its recent success, including record sales in 2020, demonstrates its ability to adapt and thrive even in challenging times. With the support of its parent company, Volkswagen Group, Bentley is well-positioned to navigate the evolving landscape of the automotive industry.
Looking ahead, Bentley’s future is bright. The brand’s focus on sustainability, coupled with its unwavering dedication to performance and bespoke craftsmanship, ensures its place as a leader in the ultra-luxury market for years to come.
Bentley’s Record Sales Signal a Shift Towards Sustainability
Bentley, the storied British automaker known for its hand-built, ultra-luxury vehicles, is experiencing its strongest sales in its 102-year history. Despite its niche market focusing on the wealthiest clientele, the brand has achieved record sales figures, surpassing even its previous peak in 2017. While Bentley’s success is undeniable, it’s not just about the numbers. The company is also undergoing a momentous transformation, shifting its focus towards sustainability, a move that could reshape its identity and future.
Key Takeaways:
- Record Sales: Bentley achieved unprecedented sales in 2020, with over 11,000 units sold, defying pandemic pressures.
- Strong Demand: The company attributes its success to new models and increased global availability, coupled with a surge in demand for luxury goods.
- Sustainable Transformation: Bentley is embracing sustainability with ambitious plans to become carbon neutral throughout its operations and product lifecycle.
- Electric Future: The brand aims to electrify its entire lineup by 2030, with the first fully electric Bentley launching in 2025.
- Challenges and Opportunities: The move towards electrification presents significant challenges for Bentley, including redefining its core values and adapting its iconic brand image.
A Legacy of Performance and Luxury
Bentley’s story starts with Walter Owen Bentley, who founded the company in 1919 with a vision to create automobiles that combined high-quality craftsmanship with exceptional performance. From the beginning, Bentley established a legacy of success, winning prestigious races like Le Mans in the 1920s, solidifying its reputation for speed and durability.
A Powerful Partnership with Volkswagen
While Bentley thrived during its early years, it faced challenges in the latter half of the 20th century. After a period of ownership by Rolls-Royce, Bentley was acquired by the Volkswagen Group in 1998. This acquisition proved strategic, providing Bentley with access to resources, capital, and global reach. While Bentley shares a comparable market with Rolls-Royce, it distinguishes itself by emphasizing performance alongside luxury.
This partnership has proven particularly advantageous during the recent semiconductor shortage. Bentley’s smaller scale and profitable products have allowed it to secure the components it needs, unlike other brands within the Volkswagen group.
A Handcrafted Legacy
Bentley’s commitment to craftsmanship is evident in its production process. Each car is meticulously hand-built, with the Continental GT taking around 110 hours to assemble, and the Flying Spur and Bentayga requiring about 130 hours. Even the 12-cylinder engine requires a team of 45 workers to assemble over six and a half hours. This meticulous approach helps Bentley maintain its reputation for quality and exclusivity.
The Allure of a Bentley
Bentley owners value the experience of driving these powerful vehicles. They appreciate the unmatched luxury and comfort, the thrill of powerful engines, and the prestige that comes with owning a Bentley. The company’s commitment to customization further enhances the ownership experience, allowing buyers to tailor their cars to their precise specifications.
The Growing Demand for Luxury
Bentley’s success also reflects a wider trend of increasing demand for luxury goods. The average age of a Bentley customer has significantly decreased in recent years, indicating a growing interest in luxury vehicles among younger demographics. The company believes its total addressable market could be much larger than its current customer base, with millions of ultra-high-net-worth individuals around the world.
Navigating the Electric Revolution
Bentley is embracing the future of automotive by committing to a complete transition to electrification. This ambitious plan will see its entire lineup powered by either hybrid or electric drivetrains by 2026, with a full electric lineup by 2030. This significant shift towards sustainability will require a complete transformation of the brand.
The Challenges of Electrification
Bentley’s move to embrace electric powertrains comes with both opportunities and challenges. Critics point to the potential loss of the iconic Bentley engine sound and the need for a complete redesign of its manufacturing processes. Bentley acknowledges these challenges but emphasizes its commitment to maintaining its brand identity while embracing the future of automotive.
A Sustainable Future for Bentley
While some question the transition towards electrification, Bentley remains steadfast in its commitment to sustainability. The company believes that its move towards carbon-neutral operations and electric vehicles will appeal to a growing number of environmentally conscious consumers.
A Partnership for Success
Bentley’s connection with Volkswagen will play a crucial role in its electrification journey. The company will leverage Volkswagen’s investments in electric vehicle technology and share platforms with other brands within the group, like Audi and Porsche.
Bentley’s Bold Vision for the Future
Despite the challenging nature of its transformation, Bentley is confident in its future. The company sees sustainability as a unique selling proposition, differentiating itself from its competitors and appealing to a wider market. Bentley’s success in recent years, coupled with a clear and ambitious vision for the future, suggests that the brand is well-positioned for further growth and evolution. The question is whether Bentley can maintain its legacy of luxury and performance while embracing the future of electric mobility – a journey that will challenge its identity but could ultimately redefine it for a new era.
