"The Decline of Luxury Car Sales: Blaming 'Emotional Sensitivity' and Lack of Wealth Flaunting"
TL;DR Summary
Bentley Motors experienced a significant drop in sales, revenue, and profits in 2023 as its wealthy customers opted against buying new luxury cars to avoid flaunting their fortune amid emotional sensitivity related to the cost of living. The CEO, Adrian Hallmark, attributed the decline to a level of emotional sensitivity among the ultra-wealthy customers. Hallmark is leaving Bentley to become the CEO of Aston Martin, after presiding over a period of growth for Bentley and reshaping its strategy.
- Bentley CEO: the rich are not flaunting their wealth enough Fortune
- A Bentley Isn’t Just Another Car. It’s as Unique as a Customer Can Afford. Barron's
- The super-rich are buying more ultra-customized Rolls-Royces and Lamborghinis CNN
- Bentley sales are down thanks to ‘emotional sensitivity,’ CEO says CNN
- Bentley blames slumping sales on 'emotional sensitivity' over high interest rates New York Post
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
2 min
vs 3 min read
Condensed
86%
546 → 78 words
Want the full story? Read the original article
Read on Fortune