The new V8 engine for Volkswagen Group’s Bentley Continental GT, launched at last month’s Detroit show, is now on the road with a 40% cut in fuel consumption and emissions as well as a drop of around GBP13,000 in price compared with the older 12-cylinder versions.

Smaller engines will broaden the market appeal of the Continental which has become Bentley’s most important, and best-selling, car since its launch in 2003.

The fuel consumption reduction means the car will now pass more filling stations with its 90-litre tank giving a range of up 500 miles, over 100 miles more than the current W12 engine.

Who will these new buyers be? Bentley’s engineering chief Rolf Frech said: “They’ll be more youthful, aggressive, extrovert and cool.” W12 buyers will remain elegant, prestigious and subtle. Whatever…

Outwardly the new V8 coupe and convertible versions differ from the W12s with their back matrix grille, 21-inch wheels and figure-of-eight tailpipes.

The Continental GT Coupe V8 is priced at GB123,835, down from GBP135,760 for the W12, while the GTC convertible costs GBP136,250, down from GBP149,350. Then there’s a whole range of options depending on the contents of your wallet – GBP10,000 for ceramic brakes, or how about special liquid paint for a cool GBP24,000?

The new engine is launched as Bentley rides a wave of strong sales. Frech said the company saw volume increase in all its major markets in 2011, up 37% worldwide to 7,003 cars.

“This has been led by the Continental and we are forecasting a positive operating result,” Frech added.

“Our US sales rose 31% as Americans have started to buy cars again and more than 1,000 cars was our biggest number there for three years. EU markets rose 53% to 1,087 cars, with Germany growing 88%, while the UK proved challenging although our sales still rose 5% to 1,031.

“Top performer was the Chinese market which rose 95% to pass more than 1,000 vehicles for the first time, a figure reached by October and finishing the year on 1,839.”