Jump to content

Bentley cruised to record year in 2021 with luxury cars in high demand


MongiIG

Recommended Posts

Bentley cruised to record year in 2021 with luxury cars in high demand

Reuters.pngStock MarketsJan 06, 2022 
 
 
 
Bentley cruised to record year in 2021 with luxury cars in high demand© Reuters. FILE PHOTO: A logo of Bentley is seen outside a Bentley car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman

By Nick Carey

LONDON (Reuters) - Luxury British carmaker Bentley cruised to a record year in 2021 as global sales jumped 31% amid strong demand for high-end vehicles, the Volkswagen (DE:VOWG_p) AG unit said on Thursday.

Bentley said its sales rose to 14,659 units from 11,206 in 2020, which was also a record year despite shutdowns caused by the global coronavirus pandemic.

Premium and luxury car sales have been growing more broadly in key global markets like China and the United States as pandemic travel restrictions have left wealthy consumers with more disposable income.

Bentley said sales last year rose 39% in the Americas and 40% in China, with those two markets between them accounting for nearly 60% of its total sales.

"2021 was yet another year of unpredictability, though I am delighted to be able to confirm that we overcame significant headwinds, and deliver a breakthrough in our sales performance," Bentley Chief Executive Adrian Hallmark said in a statement.

The Bentayga luxury SUV, which has a starting price of around 150,000 pounds ($203,000), remained Bentley's top-selling model, with sales boosted by a new hybrid option.

 

The luxury carmaker has committed to going fully electric by 2030.

($1 = 0.7388 pounds)

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,193
    • Total Posts
      90,728
    • Total Members
      41,302
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    KareemKashkush
    Joined 30/01/23 17:29
  • Posts

    • @MongiIG How long does it take to reply to a simple question?
    • Look Ahead to 31/1/23: Big data from the US, China, Japan; PFE, XOM, AMD earnings Ahead of the Fed meeting and the key US jobs report, investors get set to digest retail sales numbers from Germany and Japan. Plus, look out for consumer-related data from China, France, and the US. Earnings see Pfizer (PFE), Exxon Mobil (XOM) and Advanced Micro Devices (AMD) hand in their Q4 report cards.   Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 30 January 2023        
    • Crude declines make little difference for FTSE oil & gas producers, with the long-term view remaining bullish for energy Source: Bloomberg   Commodities Petroleum Petroleum industry Brent Crude Gas Market trend  Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 30 January 2023  Crude declines see Brent lose 34% Crude oil has suffered substantial losses over the course of the past year, with brent currently trading 34% below the March 2022 peak of $131.51. This decline represents grounds for optimism on the inflation-front, with headline CPI sliding lower across Europe and the US. However, traders continue to wonder whether this move will represent the top for the market or simply a temporary pullback within a long-term uptrend. Key considerations for the bulls include the re-emergence of Chinese economic activity as Covid restrictions are withdrawn, set against the risk of declining demand as recessionary pressures take hold. Looking at the monthly Brent crude chart below, we can see that this current month looks to be closing out in a doji candle, marking a second consecutive month of indecision. Meanwhile, the stochastic oscillator appears to be tightening, signalling the potential for a bullish shift in momentum before too long. With price currently trading around the 76.4% Fibonacci support level, the bulls will hope that the long-term uptrend will soon kick back into play. Source: ProRealTime SPR back down to multi-decade lows Another aspect to consider comes from the US, who have been drawing down their strategic petroleum reserve in a bid to support prices as OPEC restrict output. That decline in reserves can only last so long, with current levels back down to the lowest point since 1983. Recent comments have signalled that the US could move to instead seek to top-up their reserves around the $70 mark. Could a shift from supplier to consumer help tip sentiment back in favour of the bulls? FTSE oil & gas producers outperform One interesting area of outperformance has been the relative strength of oil producing stocks despite this decline in crude prices. Thus far, we have largely seen producers continue their ascent, with the volatility in oil and gas prices doing little to stifle sentiment. However, the chart below highlights how the FTSE 350 oil & gas producers sector essentially provides a more stable play on energy prices, with the stocks largely reflecting the underlying trend without necessarily seeing the same major swings that can occur for crude. The pullback we have seen in Brent (blue line) thus brings the total gains over the past two-years down to the area seen for FTSE 350 producers. For now, the uptrend remains in play for the sector, thus highlighting the belief that this recent pullback in energy prices serves to reflect a reversion back into the mean uptrend. With that in mind, the weakness seen in energy prices, and consolidation in FTSE oil & gas stocks, is deemed a potential precursor to another move higher to continue the long-term uptrend. Source: ProRealTime
×
×
  • Create New...