Bentley, which was amongst the world’s most popular luxury brands three years ago, is finally feeling the bottom of the recession as customers hold off on spending on luxury items and superluxury vehicles. Nonetheless, Bentley is remaining optimistic and says it expects sales to improve to about 5,000 units this year – even though that’s half of 2007.
Bentley “will come back to a successful phase — whether it is 8,000 or 9,000 cars,” said Franz-Josef Paefgen, CEO of Bentley Motors Ltd.
Paefgen said that the Chinese market is exploding and that “it is a big market and has the biggest growth” He said that the Middle East is pretty stable and America has been on the difficult side.
Bentley sales peaked in 2007 when the luxury brand sold 10,014 cars worldwide, including 3,990 cars in the United States. Bentley sold 1,367 cars in the United States last year, down 49 percent from 2008.
– By: Kap Shah
Source: Automotive News (Subscription Required)