Latest news with #Lafrentz
Yahoo
20-04-2025
- Automotive
- Yahoo
Scout hires former Bentley exec as COO, names new production boss
Scout Motors has bolstered its leadership ranks by hiring one veteran Volkswagen Group executive for the newly created role of COO and elevated another to be its production boss. Jan-Henrik Lafrentz joined Scout as COO on April 1. He was previously Bentley Motors' board member for finance and information technology. The British ultraluxury brand in February said Lafrentz was departing for a new position within the VW Group. Lafrentz joined VW Group in 1994 and has held finance, sales and marketing roles at Audi, Seat, MAN heavy trucks and Bentley. Sign up to get our afternoon video email. The video focuses on a new topic in the news each day. Scout said its new COO role will support the company's growth and ambitions as it transitions from EV startup to full-scale operations. 'His deep expertise in automotive finance and operations and his proven leadership will be key as we grow our company and scale our business,' Scout said in an email. In October, Scout revealed its two initial vehicles, the Terra pickup and Traveler SUV, designed and engineered specifically for the U.S., where VW Group has longed for a greater market presence. Lafrentz is based in Columbia, S.C., near where Scout is constructing a $2 billion assembly plant in Blythewood, S.C. He will also spend a substantial amount of time at Scout's R&D center in the Detroit area, a Scout spokesperson said. Scout CFO Chris Condon will report to Lafrentz, the company said. Scout also named Oliver Wollinsky chief production officer. Wollinsky, previously Scout's vice president of production, takes over for Jan Spies, who died in January. Scout broke ground on the assembly plant in February 2024. Output at the Scout Motors Production Center is set to begin in 2027. Wollinsky joined Scout in 2024 after serving as plant manager for the SAIC-Volkswagen joint venture in China. Scout said Wollinsky oversaw the construction of two manufacturing facilities and helped develop VW Group's first EV exclusive production site. Wollinsky also held production roles with Mercedes-Benz. Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor.
Yahoo
19-03-2025
- Automotive
- Yahoo
In tough global market, Bentley posts lowest revenue since 2020
By Nick Carey LONDON (Reuters) - Bentley on Wednesday posted its lowest annual revenue since the COVID pandemic struck in 2020 as the British luxury automaker faced a tough global market in 2024, but said it was pursuing "value over volume" with revenue per car up 10% versus 2023. The Volkswagen unit reported an operating profit for 2024 of 373 million euros ($407 million), down 37% from 589 million euros the previous year. Revenue fell 10% to 2.648 billion euros, from 2.938 billion euros in 2023. Speaking to reporters, CEO Frank-Steffen Walliser said the company would no longer publicly disclose how many cars it sold. But he said Bentley's revenue per car had hit record levels as high-end customers continue to invest in bespoke features that sharply raise the price and profit margin for the automaker. "This is a very clear indicator that we put value over volume," Walliser said. As an example, executives referred to a recent limited edition vehicle painted the colour of rose gold, which featured up to 210 grams of 3D printed hallmarked 18-karat rose gold at key driver touchpoints inside the car. Walliser highlighted that the luxury market in China, a key country for Bentley sales, remains "quite challenging." Chief financial officer Jan-Henrik Lafrentz said that if U.S. President Donald Trump goes ahead with tariffs of 25% on cars, Bentley would simply add that to customers' bills. "We are assessing different scenarios on how to handle it, but it will be finally passed on to the consumer," Lafrentz said. Lafrentz said that so far recent stock market turmoil and investor fears of a possible U.S. recession had not had any impact on sales. "We don't see it in the order book yet," he said. Bentley will launch its first electric car in 2026, with a new electric or hybrid model due out every year over the next decade until the company goes all electric in 2035. ($1 = 0.9163 euros) Sign in to access your portfolio
Reuters
19-03-2025
- Automotive
- Reuters
In tough global market, Bentley posts lowest revenue since 2020
LONDON, March 19 (Reuters) - Bentley on Wednesday posted its lowest annual revenue since the COVID pandemic struck in 2020 as the British luxury automaker faced a tough global market in 2024, but said it was pursuing "value over volume" with revenue per car up 10% versus 2023. The Volkswagen ( opens new tab unit reported an operating profit for 2024 of 373 million euros ($407 million), down 37% from 589 million euros the previous year. Revenue fell 10% to 2.648 billion euros, from 2.938 billion euros in 2023. Speaking to reporters, CEO Frank-Steffen Walliser said the company would no longer publicly disclose how many cars it sold. But he said Bentley's revenue per car had hit record levels as high-end customers continue to invest in bespoke features that sharply raise the price and profit margin for the automaker. "This is a very clear indicator that we put value over volume," Walliser said. As an example, executives referred to a recent limited edition vehicle painted the colour of rose gold, which featured up to 210 grams of 3D printed hallmarked 18-karat rose gold at key driver touchpoints inside the car. Walliser highlighted that the luxury market in China, a key country for Bentley sales, remains "quite challenging." Chief financial officer Jan-Henrik Lafrentz said that if U.S. President Donald Trump goes ahead with tariffs of 25% on cars, Bentley would simply add that to customers' bills. "We are assessing different scenarios on how to handle it, but it will be finally passed on to the consumer," Lafrentz said. Lafrentz said that so far recent stock market turmoil and investor fears of a possible U.S. recession had not had any impact on sales. "We don't see it in the order book yet," he said. Bentley will launch its first electric car in 2026, with a new electric or hybrid model due out every year over the next decade until the company goes all electric in 2035. ($1 = 0.9163 euros)
