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Bentley Sales Falling Because Fewer Customers Want To Show-Off, Says CEO: What He Really Means

Bentley sales witnessed a decline in 2023. According to CEO Adrian Hallmark, there’s an intriguing reason behind this downturn. He stated that rich people are now becoming hesitant to buy expensive cars as they don’t want to highlight the growing disparity between the rich and poor. In other words, they don’t want to “flaunt their wealth”, or show-off! He added that global economic conditions and high interest rates are other reasons.

Bentley bentayga images

It has been reported that Bentley sales experienced a decline in numbers in 2023. The company managed to dispatch 13,560 units in the entire year 2023. The year-on-year decline stood at 11 percent. The company has revealed that this decline in sales has caused a 13 percent loss in year-on-year revenue. Additionally, it has also caused a 17 percent loss in operating profits.

Reasons behind the decline in sales

Bentley’s CEO, Adrian Hallmark, has cited three important reasons behind this decline in Bentley sales. The first reason is a weak economy. He stated that the global economic conditions have contributed their fair share to this problem.

Yohan Poonawalla Bentley flying spur

Another important reason he stated is that the interest rates are very high at the moment. Because of this, people are less likely to buy expensive things to avoid paying huge interest payments. Lastly, he touched on a very important and unique reason, and that is “emotional sensitivity.”

With “emotional sensitivity,” the Bentley CEO meant that rich people now do not want to show off their wealth. As per the reports, “emotional sensitivity” refers to a reluctance among wealthy customers to display their wealth openly. There could be numerous reasons behind it, including economic and political uncertainties, along with some others.

Bentley Bentayga Pooja

Rich Indian Bentley owners

Although Bentley is an extremely premium automotive luxury brand, there are still a number of wealthy people in the country who own these British beauties. Following is the list of a few popular Bentley owners in India:

Akash Ambani and family

Akash ambani Bentley w12 bentayga

Mukesh Ambani’s elder son, Akash Ambani, is a huge Bentley fan. Over the years, he has been seen in various Bentley models. The family owns a number of different models, including the old and new Bentaygas, Flying Spur, Continental GT, and others.

Aamir Khan

Aamir Khan in his Bentley Continental Flying Spur

The Bollywood superstar Aamir Khan, also known as “Mr. Perfectionist,” owns a Bentley Flying Spur. He has been spotted behind the wheels of this sedan on a number of different occasions.

Yuvraj Singh

Yuvraj Bentley

The Indian cricketing star Yuvraj Singh loves the Bentley Continental GT. Over the years, he has owned two different Bentley Continental GT coupes. One was an older generation model, and the other is a newer third-generation model. He also owned a Bentley Flying Spur as well.

Virat Kohli

Another Indian cricketing legend who owns a Bentley is Virat Kohli. He owns a white Bentley Continental GT coupe. He has been spotted driving this coupe on various occasions.

Shilpa Shetty

Shilpa Shetty Chrome Bentley Flying Spur

The Bollywood actress is known for her love for luxury cars. She recently bought herself a used Bentley Flying Spur and got it wrapped in chrome. She has been seen on numerous occasions with her chrome Bentley.

The post Bentley Sales Falling Because Fewer Customers Want To Show-Off, Says CEO: What He Really Means first appeared on Cartoq.

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