Bentley and Jaguar Land Rover are seeing a decline in profits
Bentley has reported a slow down in demand and drastically reduced profits. It seems that the world really doesn’t have an endless appetite for thirsty, heavy petrol and diesel powered SUVs.
Jaguar Land Rover are suffering similar declines and have responded by announcing plans to make the Jaguar brand all electric; given Bentley’s parent #vw‘s commitment to electrify their range, we think that the Bentley brand would be a good place to start. They have the concept - the Speed6E - and this would be the first electric two seat sports car since Tesla stopped producing the old Roadster and would steal a march on Tesla before the launch of the new version of that model.
There is clearly a market for luxury EV sedans and SUVs and it appears that buyers are choosing Tesla Model S and X over more traditional luxury marques.
You can read The Times story here…