British luxury automaker Bentley ( VWAGY ) is betting big on hybrids and younger consumers .
Bentley, coming off a strong but not record-breaking 2023, believes it can get back on track. New US CEO Mike Rocco told Yahoo Finance a dip in sales was expected last year, but 2025 could be a strong one, with an all-new Continental GT plug-in hybrid coming by the end of 2024.
“It certainly is the next step for Bentley,” Rocco said to Yahoo Finance from the Quail, one of the marquee events during Monterey Car Week in Pebble Beach, Calif. “It was just the logical progression to go V8 hybrid.”
The progression to hybrid began with the Bentayga SUV and then the Flying Spur sedan; however, the Continental GT gets Bentley’s all-new V8 plug-in hybrid powertrain, offering up to 50 miles of electric range, plus the roar of a V8 and nearly 1000 lb-ft of torque. It will be the sole powertrain when the Continental GT goes on sale.
“It allows us to, now, I think, speak to a different audience. We're now into the supercar territory but with the craftsmanship, luxury aspects, and obviously, comfort, of an everyday driving car,” in addition to the benefits of hybrid tech, he said.
“What's nice about the new car is that it has regeneration, so you don't have to plug it in on a regular basis,” Rocco said. “It will regenerate [energy], which, in talking to our clients and our customers and potential prospects, is a strong selling feature for the vehicle.”
While clients are accepting of hybrid and some electrified features, those buying in the supercar territory are worried about drawbacks to full EVs.
“They're accepting of hybrids; there's still a little concern about full electric,” he said. Other sources at Monterey Car Week told Yahoo Finance that many high-end buyers are concerned about the residual values of EV supercars that can cost upwards of $2 million.
Bentley, which offers the limited-edition $1 million Batur but doesn’t operate in the hypercar space, was looking to go full electric by 2030, but the brand has backed off that date. Bentley and Rocco now anticipate building hybrid models for some time now through 2030, with full EVs coming sometime after 2030 if not 2035.
Bentley’s push to go younger
Bentley debuted the aforementioned all-new Continental GT sports car for the first time in North America at Monterey car week as it also aims to get younger customers and offer more custom options.
“Overall, I would say that we're shifting from early 60s to probably early 50s, late 40s; it's definitely trending that way the last couple years,” Rocco said about the average age of its buyers. "Since 2019 we've seen it come down into a space that we're more comfortable with, an age we're more comfortable with.”
While modern design and a refreshed model line help, it turns out younger buyers like to make the product their own, with custom treatments, materials, finishes, and even one-off creations like a unique dashboard appearance, for instance.
“We think that [younger client trend] will continue with the new car, and that's very important to us,” Rocco continued. “It's just the continued brand building around Bentley, and we're doing a lot through the new products, new styling kits, new exhaust kits, different colors that come to market with, you know, with each launch of the new products.”
With the launch of the new Continental GT, expected to have an MSRP of $300,000, the luxury brand hopes sales will get back to another record year and increase profits if its clients continue ordering those high-margin options and customizations.
Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram .