Bentley CEO: Despite the UK deal, tariff uncertainty remains. Plus: A new gas-powered vehicle.
Bentley (vwagy) CEO Frank Cefen Wallizer found himself in control of a gorgeous British brand at an amazing time.
He has been at the helm for about a year since his predecessor set off for rival Aston Martin.aml.l). There was a transition from gas to hybrids, and there was all electricity on the horizon. But the big problem facing the brand, a Volkswagen unit, is its trade with its most important regions. It’s the United States.
The UK negotiated a 10% tariff with the US. This is one of the contracts the government has said to mean duties.I immediately cut it off” The report suggests that the EU is also looking at Protect your entire board’s duty by 10%. However, the original President Trump announced that it remains on “liberation day.” The UK government has shown that a solution could come soon. Wallizer said the brand is still in scope for that reason alone.
“That’s not fixed,” Walliser said, adding that although planning for the automotive sector is usually done for years, it now works monthly.
Meanwhile, Walliser said Bentley will price-protect all cars purchased by the end of June, with all customer orders still being shipped and delivered.
However, more inventory will remain in the UK until the US-UK trade contract is finalized with what appears to be a 10% tariff. “We are also ready to bring new cars back to the market at the moment we are clear about the tariff situation,” he said.
The uncertainty of tariffs arrives as the company is out of a tough year. Revenue fell 10% to 2.65 billion euros ($3.06 billion), with revenues falling to 14.1% from 20.1% in 2023. Why is it slump? Bentley is in the midst of impressing its product range, so by introducing new models and setting the old models to sunset, partially explaining the decline in sales.
Nevertheless, the company said demand remains strong due to “healthy order intake” and positive acceptance of the new model. The brand also has a moment in pop culture, with hit characters driving “Yellowstone” and “Landman” driving models that are hard to overlook.
One of the cars that Walliser and Bentley are excited about is the new version of the company’s top selling Bentayga SUV. The Bentayga Speed is the fastest and most powerful version of its SUV. Interestingly, it comes with a turbocharged V8. It’s not a hybrid.
“I think it’s one of the last cars of the (powertrain) type. There’s also the opportunity to create something very unique. This is definitely not a mainstream car,” explained Bentley CEO.