Volkswagen Group-owned Bentley will make more than 10,000 cars for the third year running this year and is now in a position where it can fully fund its own product development.
Sales and marketing chief Kevin Rose said: "Not so long ago we were only producing around 2,000 cars a year at our factory in Crewe but we are now a much more significant player, looking at new markets, new sectors and new bodystyles."
Go deeper with GlobalData
Production of one of those new body styles, the Bentayga luxury SUV, started at Crewe last week and, despite media speculation earlier this year, Rose stressed the new model, along with all Bentleys, would be made in the UK [though some key components are imported from VW group factories in Europe – ed].
"Britishness is highly valued in many, many parts of the world, particularly when it comes to luxury items," he added. Although no customers have actually got their hands on the new model yet, the order book is full and 50% of customers are new to the brand.
Rose said: "With this model we are bringing the Bentley brand to a new set of customers and we will continue to do this with new products in new sectors."
This will likely include the EXP 10 Speed 6 concept revealed earlier at this year's Geneva show. Rose said market research into the two-seater had been positive. "We are looking at bringing the car to market but at the moment we are still working on the business case."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThat business case has to be put to parent company Volkswagen, despite Rose's assertion that Bentley can now fund itself. He added the luxury brand had not suffered any fallout from its parent's diesel emissions scandal.
Also in the model pipeline will be updated versions of the Continental, Mulsanne and Flying Spur. There will be a plug-in hybrid version of the Bentayga and Rose added the company is "excited about the possibility of an all-electric model if battery technology moves on and can achieve 500km [300 miles] range".
There is still plenty of capacity at the Crewe factory, he said, which could produce as many as 20,000 vehicles a year. Production this year will likely be slightly down compared with 2014 because of a decline in some markets.
Some 90% of our business is outside the UK. The market in China is down and while the US is not in bad shape there is concern that credit is growing at an unsustainable rate.
"My biggest worry is the Middle East because oil prices are staying determinedly at US$50-60 a barrel and, if it stays that way, Saudi could run out of money."
However, Rose said Bentley would "be careful" where it grows its business. "Some luxury businesses have made fairly unrealistic assumptions about China and we felt that growth there was unsustainable."
