Latest news with #Frank-SteffenWalliser
Yahoo
16-06-2025
- Automotive
- Yahoo
Bentley CEO: Tariff uncertainty remains despite UK deal. Plus: A new gas-powered car.
Bentley (VWAGY) CEO Frank-Steffen Walliser finds himself in control of the luxury British brand at a remarkable time. He has been at the helm for about a year since his predecessor left for rival Aston Martin (AML.L). There's been a transition from gas to hybrid, with all-electric on the horizon. But the big issue facing the brand, a unit of Volkswagen, is trade with its most important region: the US. The UK negotiated a 10% tariff with the US, one deal that the government said meant duties were "immediately slashed." Reports suggest the EU is also looking to secure a 10% across-the-board tariff. However, the original tariffs President Trump announced on "Liberation Day" remain in place, with the UK government indicating a resolution could come soon. Walliser said that for that reason alone, the brand is still in limbo. "It's not finalized," Walliser said, adding that planning for the automotive sector is usually done in years, whereas now Bentley is working month to month. Meanwhile, Walliser said, Bentley will price-protect all cars purchased through the end of June, and all customer-ordered cars will continue to be shipped and delivered. Further inventory will remain in the UK, however, until the US-UK trade deal is finalized with what appears to be a 10% tariff. "We are also prepared to feed new cars back to the market in the moment where we have clarity on the tariff situation," he said. The tariff uncertainty arrives as the company is coming off a tough year. Revenue was down 10% to 2.65 billion euros ($3.06 billion), with its return on sales (a version of profit margin) down to 14.1% from 20.1% in 2023. Why the slump? Bentley is in the midst of electrifying its product range, so introducing new models and sunsetting older ones partly explains the sales drop. Nonetheless, the company said demand remains strong, with "healthy order intake" and positive reception of its new models. The brand is also having a moment in pop culture, with characters in hit shows "Yellowstone" and "Landman" driving Bentley models that are hard to miss. One of the cars that Walliser and Bentley are excited about is a new version of the Bentayga SUV, the company's top-selling car. The Bentayga Speed is the fastest, most powerful version of that SUV yet. Interestingly, it comes with a turbocharged V8 — and it's not a hybrid. "I would say it's one of the last cars with that type [of powertrain]. There's also an opportunity to create something very unique. This is definitely not a mainstream car," the Bentley CEO explained. Walliser indicated that customers were asking for a car with this type of pure, gas-powered motivation, but the future of the brand stands with hybrids and, eventually, all-electric propulsion. Bentley originally planned to go all-electric by 2030. But like many brands, its plans have changed for a variety of reasons, like cost and customer appetite. Walliser said Bentley's first pure EV will be revealed later in 2026 in an all-new form factor, likely a sportier or compact SUV. "It's our fourth model line, so we are adding something to the business and not replacing a car. So that gives a lot of opportunities," he said. "Also, it's a more compact car ... It will be a very modern interpretation of it, maybe one of the best Bentleys ever." For Bentley, hopefully it is. That's because Bentley owners seem more than happy with the current gas-powered models. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Automotive
- Yahoo
Bentley CEO: Tariff uncertainty remains despite a UK deal. Plus: A new gas-powered car.
Bentley (VWAGY) CEO Frank-Steffen Walliser finds himself in control of the luxury British brand at a remarkable time. He has been at the helm for about a year since his predecessor left for rival Aston Martin (AML.L). There's been a transition from gas to hybrid, with all-electric on the horizon. But the big issue facing the brand, a unit of Volkswagen, is trade with its most important region: the US. The UK negotiated a 10% tariff with the US, one deal that the government said meant duties were "immediately slashed." Reports suggest the EU is also looking to secure a 10% across-the-board tariff. However, the original tariffs President Trump announced on "Liberation Day" remain in place, with the UK government indicating a resolution could come soon. Walliser said that for that reason alone, the brand is still in limbo. "It's not finalized," Walliser said, adding that planning for the automotive sector is usually done in years, whereas now Bentley is working month to month. Meanwhile, Walliser said, Bentley will price-protect all cars purchased through the end of June, and all customer-ordered cars will continue to be shipped and delivered. Further inventory will remain in the UK, however, until the US-UK trade deal is finalized with what appears to be a 10% tariff. "We are also prepared to feed new cars back to the market in the moment where we have clarity on the tariff situation," he said. The tariff uncertainty arrives as the company is coming off a tough year. Revenue was down 10% to 2.65 billion euros ($3.06 billion), with its return on sales (a version of profit margin) down to 14.1% from 20.1% in 2023. Why the slump? Bentley is in the midst of electrifying its product range, so introducing new models and sunsetting older ones partly explains the sales drop. Nonetheless, the company said demand remains strong, with "healthy order intake" and positive reception of its new models. The brand is also having a moment in pop culture, with characters in hit shows "Yellowstone" and "Landman" driving Bentley models that are hard to miss. One of the cars that Walliser and Bentley are excited about is a new version of the Bentayga SUV, the company's top-selling car. The Bentayga Speed is the fastest, most powerful version of that SUV yet. Interestingly, it comes with a turbocharged V8 — and it's not a hybrid. "I would say it's one of the last cars with that type [of powertrain]. There's also an opportunity to create something very unique. This is definitely not a mainstream car," the Bentley CEO explained. Walliser indicated that customers were asking for a car with this type of pure, gas-powered motivation, but the future of the brand stands with hybrids and, eventually, all-electric propulsion. Bentley originally planned to go all-electric by 2030. But like many brands, its plans have changed for a variety of reasons, like cost and customer appetite. Walliser said Bentley's first pure EV will be revealed later in 2026 in an all-new form factor, likely a sportier or compact SUV. "It's our fourth model line, so we are adding something to the business and not replacing a car. So that gives a lot of opportunities," he said. "Also, it's a more compact car ... It will be a very modern interpretation of it, maybe one of the best Bentleys ever." For Bentley, hopefully it is. That's because Bentley owners seem more than happy with the current gas-powered models. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram.
The National
31-03-2025
- Automotive
- The National
Bentley's new Continental GT hybrid is still the best grand tourer on the market
For two decades, the Bentley Continental GT has been the gold standard in grand touring. With the launch of its fourth-generation model, that reputation not only holds, but feels more justified than ever. This is the most refined, most powerful and arguably the most compelling Continental GT to date. There's a big change under the hood. Gone is the towering 6.0-litre twin-turbo W12, a behemoth of an engine that has powered the top-end Continental GT for years. In its place is a plug-in hybrid V8. Performance is nothing to worry about. This new hybrid set-up is staggering. The 4.0-litre twin-turbo V8 produces 584 horsepower, while an 187-horsepower electric motor sits between the engine and an eight-speed dual-clutch gearbox. The combined output? A monstrous 771 horsepower, catapulting this 2,500kg grand tourer from 0 to 100km/h in only 3.2 seconds. Not bad for a car built to cruise rather than sprint. 'The plug-in hybrid was a bold move,' says chief executive Frank-Steffen Walliser when we meet in Dubai. 'But customers have embraced it. When they drive it, they say: 'Wow, this is completely different. The hybrid actually adds more to the car than it takes away,'' he adds. Spending a weekend with the new Continental GT, I can confidently say the hybrid system doesn't dilute the experience – it enhances it. There are several drive settings to cycle through, but I keep it firmly in sport mode. The rumble is deep, satisfying and absent in the more restrained driving modes. When the first Continental GT launched two decades ago, Bentley was in a very different place. The brand was struggling, and the Continental GT almost single-handedly resurrected it. Fast forward to today, and Bentley no longer needs that kind of rescue mission. Its portfolio includes the best-selling Bentayga SUV, but the Continental GT remains just as vital. And in this latest iteration, it commands the road like few others. The first thing you notice? Presence. The new GT is still big – dominant, even – but it doesn't come off as aggressive. It's the kind of confidence that doesn't need to shout. Inside, that sense of grandeur continues. I'm a big guy – 1.96 meters tall – and I still have plenty of room to spare. I can't say that's the case in many cars with this kind of performance. The accommodating cabin is already a win in my book. Of course, no Bentley review would be complete without talking about craftsmanship. The interior is plush, infinitely customisable and drenched in high-end materials. A personal favourite touch is the rotating centre console, a Bond-like party trick that lets you toggle between a high-resolution touchscreen, a set of classic analogue dials, or a smooth, uninterrupted dash panel. It's the kind of detail that reminds you Bentley never skimps on drama. The challenge now? Finding the car that will take Bentley into the next two decades. The plug-in hybrid models mark a crucial step towards full electrification, even though the marque has pushed its all-electric goal to 2035. 'The move to the electric car is maybe the most demanding task in the history of the car,' says Walliser. 'This is clearly driven by regulation, but we also see there's a demand and acceptance for plug-in hybrid. And so this is why we extend our offering and plug-in hybrids in our model lines. And on the other side, we are coming with a full electric Bentley in 2027.' At some point around the time you are reading this, Bentley is set to roll its 100,000th Continental GT off the production line in Crewe. And as I settle back into the cabin, Sport Mode engaged, I realise that while a lot of change is on the horizon, right now, I wouldn't change a thing.
Yahoo
20-03-2025
- Automotive
- Yahoo
Here's How Bentley Is Getting Ready for Luxury Electric Vehicles
Bentley has begun preparing its Pyms Lane site for EV production, as the next step in its electrification strategy that has already seen the debuts of several PHEV models. The British luxury brand will reveal a new battery-electric SUV in 2026, positioned below the Bentayga in size, with deliveries set to start in 2027. The premium automaker will introduce a new BEV or PHEV model every year between now and 2035, with plans to go EV-only by that year. It feels like it wasn't that long ago when Bentley first revealed its EV strategy, aiming for an EV-only lineup by 2030. These plans have since been revised, with a new target year of 2035. Of course, quite a bit still has to happen between now and 2035 to make this a reality, especially at a time when several automakers are scaling back their EV ambitions. And as a first step this includes the launch of its first EV, slated to be revealed in 2026 and to arrive in customer driveways starting in 2027. But just how much progress has been made toward that goal in recent months? The automaker revealed this month that it is now readying its Pyms Lane factory for EV production and is converting the oldest building at the site for housing an assembly line for BEV models. Bentley recently opened a new paint shop and a new Excellence Centre for Quality & Launch. "The new facilities aim to set a new benchmark in next generation, digital, flexible, and high-value manufacturing operations," the automaker said. Just what one of those EV models will look like was previewed in late 2024, with Bentley showing a shadowy profile drawing of an unnamed "luxury urban SUV," one that could be a bit smaller than the Bentayga and aimed at a more dense, urban environment. Slated to measure just under five meters, or 197 inches from head to stern, the model was described by the Bentley CEO as "compact" at the time, at least relative to the current Bentley vehicle universe. "Last year marked a milestone year in our transformation as we prepare for our electric future," Frank-Steffen Walliser, Chairman and CEO of Bentley Motors, said this month. "We are investing at levels never seen before at Bentley, as we not only revolutionize our product cycle plan, but also transform an 85-year-old site for a new age of electrification." In its path to an all-EV lineup, Bentley plans to introduce a new electric or hybrid model every year between now and 2035—a busy schedule for what is still a relatively small automaker based on annual production. The tech and resources of the greater Volkswagen Automotive Group—Bentley's corporate parent—will certainly play a role in this ambitious debut schedule. It is expected that the upcoming Porsche Cayenne EV, due to arrive in 2026, will lend its underpinnings to the upcoming Bentley model. The electric Bentley SUV is also expected to be more nimble than the Bentayga, reflecting a subtle shift in priorities compared to the time the Bentayga was launched a decade ago, while also taking advantage of instant torque. Bentley has not officially confirmed other upcoming battery-electric models just yet, but it is expected the debut of a battery-electric Continental GT is only a matter of time. Such a model is now seen as one of the two next likely EV debuts, after the 2027 SUV, though it remains to be seen whether an all-electric Continental GT will arrive before 2030 or sometime thereafter. A new fourth generation of the internal-combustion model just arrived last year. A battery-electric version of the next-gen Bentayga, due around the end of the decade with the next major redesign, is also anticipated by some industry watchers. And between now and 2030, more PHEV variants of existing models are on the way, even after the debuts of three PHEV models over the past year. What does the rest of the year look like for Bentley? "Looking forward to 2025, of course we continue to navigate difficult global market conditions and maintained volatile political and economic environments, however our strength of sales is strong," Walliser said. "We have reached record levels of revenue per car, a well-balanced export strategy, and a clear structure to maximize personalization." Bentley has traditionally been seen as somewhat immune to annual shifts in the economy when it comes to sales. But its revenues and operating profits have fluctuated quite a bit over the past several years, with 2023 and 2024 seeing declines in revenues of 13% and 10%, respectively. Its operating profits have also seen drastic swings over the past five years, with significant gains seen in 2021 and 2022 followed by declines in the two subsequent years. The brand's electrification strategy, however, will now coincide with the emergence of a much more global audience than its lineup had seen 20 years ago. China's turn to EVs is one of the driving forces of this transformation. Can Bentley stick to its 2035 EV-only goal, or will the automaker push back the target year once again? Let us know what you think in the comments.
Telegraph
19-03-2025
- Automotive
- Telegraph
Drivers may never want to give up combustion engine, says Bentley
Bentley is pressing ahead with plans to go all-electric despite its chief executive admitting that some drivers will never want to give up petrol or diesel cars. Frank-Steffen Walliser conceded that the luxury carmaker's green transition could scare off some customers, especially those who believe:'If it's not a combustion engine, I will not drive it.' He issued the warning after Bentley recently started work on its first electric vehicle production line in Crewe. The company's 85-year-old Pyms Lane plant is set to begin building its first electric model, a battery-powered SUV, next year, with the first deliveries expected in 2027. Mr Walliser, who was appointed last July, reiterated a pledge to roll out a new electric or hybrid model each year for a decade as a prelude to moving to an EV-only line-up by 2035. The chief executive said the company's clientele is split between people happy to have the latest technology and others who are wedded to traditional engines. Bentley is intent on pursuing the former, he said, claiming its aim is to develop an EV that can win over doubters. He said: 'We have a wide variety of customers. They are not driven by the cost per mile. Different things excite different drivers. 'There are, for sure, customers who say, fine, if it's the latest and greatest technology I will take it, whatever it is.' However, he said others will take the view that 'if it's not a combustion engine, I will not drive it'. Mr Walliser said anticipating future sales trends was more important than focusing on holdouts against EVs, stressing that the electric SUV would help to boost sales. He said: 'If we have a great product, a true Bentley, maybe the best Bentley ever, then we will have enough pulling power no matter what the drivetrain.' Bentley scrapped plans to move to an electric-only line-up by 2030 last November, pushing the date for ending hybrid combustion engine sales back five years. Mr Walliser said the British brand, owned by German automotive giant Volkswagen (VW), was 'maybe a little bit too bullish in the beginning'. He said Bentley is monitoring public attitudes to EVs and anticipates that sluggish demand will begin to pick up. He said: 'Our judgment is that, at the moment, we are at the very deep point on the acceptance of electric cars. We assume it will come back.' Bentley ended production of petrol-only cars last year as it retired its W12 engine, with all models now equipped with hybrid engines as part of the transition towards EVs. The chief executive's comments come after VW-owned Audi said it was reconsidering plans to halt new petrol model launches from next year, a day after revealing that it was cutting 7,500 jobs. Another sister company, Porsche, last month announced that it would expand its petrol-car range after concluding that combustion engines would be around for significantly longer than previously thought. Bentley's operating profit fell almost 40pc to €373m (£314m) last year, though the company said it achieved record revenue per car as it focuses on 'value over volume'. Almost three quarters of buyers opted for the bespoke options from the company's Mulliner personalisation division, which typically costs three times more than the baseline price. Earnings were held back by a volatile economic environment, Bentley said, with the Chinese market posting a drop in sales. Mr Walliser also said it is not yet clear whether Bentley, which imports parts from Europe, would be affected by Donald Trump's trade war. The US market, the company's biggest, has seen no reaction so far to the threat of tariffs, he added, with potential buyers conscious that the situation may change and 'staying cool'.
