VW-owned Bentley Motors has announced significant growth in 2013 profit and turnover, to post its strongest ever annual performance.
It also took the opportunity today to remind journalists of its upcoming SUV and set out plans for Bentley to become a VW Group hub for W12 engine production.
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Operating profit for the year ended 31 December improved to a record GBP139.7m (€167.7m), up 66.9% on the 2012 figure. Turnover grew by 15.5% to GBP1.4bn (€1.68bn), the highest in Bentley’s history.
The company also offered the first picture of its luxury SUV and confirmed its Crewe headquarters will become the centre of excellence for the Volkswagen Group for all W12 engine production.
New SUV
Bentley says the new SUV will be the most luxurious and powerful SUV on the market.
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By GlobalDataDr Wolfgang Schreiber, Chairman and Chief Executive at Bentley Motors, commenting at a press conference in London, said: “It will create a completely new segment in the SUV market.”
The SUV forms part of Bentley’s GBP800m investment in new model and facilities development in the next three years. The company anticipates a minimum annual sales volume of 3,000 SUVs. The SUV is due to launch in 2016.
See also: UK: Bentley SUV due in 2016
Bentley to become W12 engine ‘centre of excellence’ for VW Group
Bentley also said it has firmly reinforced its position as the world’s largest producer of 12 cylinder engines after announcing its Crewe headquarters will become the centre of excellence for the Volkswagen Group for all W12 engine production from the end of 2014 onwards.
With this decision, Bentley will export engines for the first time in its history, creating around 100 jobs across the business.
Dr. Wolfgang Schreiber, Chairman and Chief Executive of Bentley Motors, said: “This is an important step, not just for Bentley but also for the UK manufacturing sector. This W12 centre of excellence is recognition of the long standing engine manufacturing expertise we have that has resulted in performance improvements across the model ranges over recent years. The production of this advanced engine and its future generations will bring new technologies and skills to Crewe.”
Business Secretary Vince Cable said: “Our world beating car industry employs 142,000 people in the UK and is worth GBP11.2 bn to our economy.
“With more than four out of every five cars made in the UK exported to the rest of the world, the news that Bentley will now export engines as well is another feather in their cap. The Government’s Industrial Strategy is supporting world-class companies like Bentley to create highly skilled long term jobs and promote exports.”
The W12 engine is an advanced 12 cylinder high performance engine in a unique ‘W’ configuration. The engine offers high levels of power and torque. Bentley expects to produce up to 9,000 engines per year at peak times.
