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Bentley CEO Adrian Hallmark explains carmaker's situation and plan for recovery

In August, we posted on some of the issues plaguing Bentley at the moment, namely the large loss the carmaker's posted this year. The same Autocar piece we referenced, carmaker CEO Adrian Hallmark said Bentley would not be making more sports cars. Bentley wrote to us to clarify that a single year's loss isn't a calamity, that "it is a mistake to suggest that sports cars are the same as GTs," and that the brand "will continue to design, engineer, and craft" GT cars. We must note, though, that at the time, Hallmark himself said, "The sports car sector – like our own...." More recently, Hallmark expounded on some of the factors slowing the company down this year, from delayed launches to exchange rates. Through the first nine months of the year, Bentley sold 6,654 units, an 11 percent decline from the 7,498 units sold through the first nine months of 2017. In addition to other matters like huge investments in new technologies, that helped the Crewe carmaker to a $44.7-million year-over-year drop in revenue, and a $156-million overall loss, compared to a $35 million profit over the same period last year. On top of declining sales overall, the nine-month delay in launching the Continental GT, the brand's second-best seller, was the first of two big issues causing red finances. Hallmark said the Continental GT "just wasn't ready for launch. But we'd paid for it – we'd paid all the money out, but not got any money back in." Having got that sorted, the second issue arose: WLTP certification. Unlike the New European Driving Cycle (NEDC) before it, the Worldwide harmonized Light vehicles Test Procedure requires every model variant get tested for certification. Hallmark told Automotive News Europe, "We were not quick enough unfortunately to book capacity or prioritize our derivatives within some of the group processes to get them certified on time." Bentley wasn't alone in this; Volkswagen had only managed to get seven of its 14 models approved by September 1 when the WLTP rules took effect. Bentley's much smaller scale exacerbated the problem, turning the situation "close to catastrophic." Hallmark said the snafu robbed the Bentayga of 300 to 400 sales - a gigantic number with respect to a $200,000 vehicle - and pushed the Bentayga plug-in hybrid launch back to March 2019 so Bentley could get volume models certified. Furthermore, preparing for Brexit hasn't been easy on any of the UK's manufacturers.

Bentley Bentayga Stetson Special Edition is Texas-style luxury

A premium Texas car dealership has coordinated the unusual pairing of a top-tier British automaker with a legendary American hat brand. Together, with the help of the bespoke builders from Mulliner, Bentley Dallas and Stetson have birthed the Bentayga Stetson Special Edition. The first example (there will be more) arrived at the dealership this week in White Sand and comes complete with a matching hat.  Although Bentley and Stetson might seem like an odd couple, their similar core values make for a loose connection: lasting quality, timeless design and unmatched craftsmanship. The special edition, which is sold exclusively through Bentley Dallas, is available in three different colors, all of which match an iconic Stetson design. Onyx is meant to pair with the Stetson black 100X El Presidente, Dark Cashmere is for the Stetson Boss of the Plains, and the White Sand paint on this example matches the Stetson Silverbelly. The wheels can be ordered on a normal Bentayga, so the only other exterior alteration is the addition of Stetson badges on the rear side panels. Step inside, and the SUV starts to feel a bit more Texas. Mulliner conceptualized a three-tone configuration with camel main hides, saddle secondary and burnt oak accents. The seats, door paneling, and floor mats feature diamond-quilted designs, and "boot stitching" was used throughout the vehicle as a nod to cowboy culture. Possibly the most beautiful material is the open-pore liquid amber veneer, which is cut from American Red Gum trees in the U.S. Punctuating the special edition, each front seat has "STETSON" embroidered beneath the head rests, and treadplate inserts read, "MULLINER STETSON."  The Stetson Special Edition does not receive any performance upgrades, so it sticks with the twin-turbo 4.0-liter V8 that makes 542 horsepower and 568 pound-feet of torque. This exact example is listed at $246,578, but each version would be different depending on customer preferences. Bentley Dallas is expecting two more vehicles in October and November. Featured Gallery Bentley Bentayga Stetson Special Edition View 25 Photos Design/Style Bentley SUV Luxury Off-Road Vehicles Performance bentley bentayga Mulliner

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.