The British luxury car maker saw sales fall 11% in 2023
By
William Gavin
UpdatedMarch 23, 2024
Life is pretty rough out there for some us. 
Bentley Motors sales are down because even its base of ultra-wealthy customers is worried about paying off a new car, according to its chief executive officer.
Even though our customers can still afford our cars, there was a level of emotional sensitivity that slowed down demand, CEO Adrian Hallmark told reporters on Thursday, according to CNN. Specifically, Bentleys customers are sensitive about high interest rates, a spokesperson later elaborated to CNN.
About 30% of customers leased Bentleys last year, rather than purchased, indicating that even wealthy consumers are worried about being roped into monthly payments on a pricey new vehicle. The average monthly payment on a new vehicle in the U.S. was $739 on a 68-month loan, according to Edmunds.com.
https://qz.com/bentley-motors-luxury-car-suv-sales-decline-1851361022#:~:text=The%20British%20luxury%20car%20maker%20saw%20sales%20fall%2011%25%20in%202023&text=%E2%80%9CEven%20though%20our%20customers%20can,on%20Thursday%2C%20according%20to%20CNN.
