2008 Bentley Continental Gt Convertible, Mulliner, Low Miles, Beautiful! on 2040-cars

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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.

2019 Bentley Continental GT breaks Pikes Peak production car record

Bentley has made good on its promise to capture the production car record at Pikes Peak this past weekend. Pikes Peak expert Rhys Millen took a stock 2019 Bentley Continental GT (save for mandatory safety equipment) up the roughly 12-and-a-half-mile route in a time of 10:18.488 and an average speed of 70 mph. The final time was an impressive 8.4 seconds ahead of the previous record. That previous record holder was a stock 2014 Porsche 911 Turbo S driven by David Donner. That car's twin-turbo flat-6 made "just" 560 horsepower and 516 pound-feet of torque to the Bentley twin-turbo W12's 626 horsepower and 664 pound-feet of torque. Of course the Bentley is much heavier, which would be evident in a straight drag race, as the Porsche had a claimed 0-60 mph time of 2.9 seconds to the Bentley's 3.6. We're interested to see if other manufacturers will start heading to Pikes Peak in search of production class glory. In the meantime, Bentley can relish in owning not one, but two production car record times. It set the production SUV record last year with a Bentayga. The Bentayga was a little over 30 seconds slower than the Continental GT with a time of 10:49.9. Bentley set the record on Sunday, June 30, the same day that Carlin Dunne was killed in a crash while attempting to set a different record aboard a Ducati Streetfighter V4 prototype. Related Video:    

New Bentley boss nixes any new sports cars in its money-losing lineup

Adrian Hallmark took over the helm at Bentley on February 1 this year. Volkswagen poached him from Jaguar, where he headed the brand's global strategy. Or perhaps we should say re-poached him, since Hallmark served as Bentley's board member in charge of sales and marketing from 1999 to 2005, and helped guide the original Continental GT to market. He's now responsible getting Bentley in better shape financially and sales-wise, and positioning it for growth. Among the products necessary to do that, Hallmark recently told Autocar that flashy coupes won't cut it. "I'll tell you what we won't be building," he said, "and that's sports cars." That means we can forget about the gorgeous EXP 10 Speed 6 coupe that had a rumored place in the lineup after a sub-Bentayga CUV, and the EXP 12 Speed 6e battery-electric convertible. Hallmark cited a few issues with the segment, the first being that the segment hasn't yet recovered from the recession, and the buyer demographic that's left goes up in age every year, clearly a losing game. The kinds of younger buyers who would buy Bentleys, athletes and entertainers, are deterred from the purchase by contractual limitations like injury clauses or aversion to paparazzi photos. As well, in China, wealthy buyers get SUVs or limousines, but Hallmark believes Bentley hasn't adopted the the proper strategy there to take advantage. This is far more than about sports cars for Bentley, though; a recent article in German newspaper Handelsblatt outlined a number of situations the carmaker needs to rectify, including the finding that Bentley's "losing money hand over fist instead of racking up the hefty margins more typical of the class." A German study claimed that whereas Ferrari makes around $80,000 on every car it sells, and Porsche makes a little more than $19,000 on each car (last year it was a little more than $17,000) Bentley loses a little more than $19,000 on each unit. The English manufacturer has posted an operating loss of roughly $92 million through the first six months of 2018, the latest figures in a decline that began in 2014. That financial timeline, however, coincides with Bentley's $1.1B investment in new technologies, which the carmaker cites as the reason for profitability woes.