Bentley Sales Hit Record In 2013
While Ford and GM struggle somewhat, demand for the eilte-of-the-elite Bentley is soaring. As BusinessWeek reports, 2013 saw the firm sell 10,120 vehicles worldwide - dominated by the Americas - a 19% rise over 2012. Coincidentally, since Fed policy went extreme, Bentley has seen double-digit growth rates each and every year leading to the best performance in its 95-year history. As BusinessWeek ironically notes, it requires no small amount of consumer confidence to roll away in a Bentley Mulsanne, which has a sticker price just shy of $300,000.
The luxury car brand said yesterday that it sold a record 10,120 vehicles worldwide last year, a 19 percent increase over the year prior. That was Bentley’s best performance in its 95-year history and its fourth straight year of double-digit volume gains. Bentley Chief Executive Officer Wolfgang Schreiber said the sales bump establishes his charge “as the most sought-after luxury car brand in the world.” Achtung, Daimler!
Why the heady sales pace? For one, Bentley is getting a nice boost from the economy at large, specifically a bullish stock market. It requires no small amount of consumer confidence to roll away in a Bentley Mulsanne, which has a sticker price just shy of $300,000.
The end goal? Bentley is hoping to sell 15,000 cars a year by 2018. Assuming an average price around $300,000 and Bentley’s hoped-for 21 percent return, that’s a profit of almost $1 billion for Volkswagen. Luxurious indeed.
Thank you Ben-tley Bernanke...
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