Bentley will be taken over by AudiOctober 26, 2020
Volkswagen Group CEO Herbert Diess plans to transfer Bentley to Audi’s control, company sources said.
Currently, Porsche CEO Oliver Bloom is responsible for the British premium brand on the Volkswagen Group board. However, according to sources, Diess believes Bentley has the potential for a fresh start under the leadership of Audi. Sources said Audi will oversee Bentley’s technological and financial activities from next year.
Diess aims to optimize the VW Group’s portfolio of brands, which ranges from luxury brands such as Bentley, Audi and Porsche, to mainstream brands such as VW, Skoda and Seat.
Volkswagen is reportedly considering whether its niche high-performance brands Lamborghini, Bugatti and Ducati have a future within the company as the automaker increasingly focuses on electric, digital and autonomous vehicles. Note that the company is now looking for a buyer for the latter.
Bentley returned to profit last year, but is likely to suffer losses this year due to the impact of the coronavirus pandemic, CEO Adrian Hallmark told Automotive News Europe in June. Brexit is also putting pressure on the brand, as if the UK exits the European Union’s single market next year without a trade deal, profits could be cut by a quarter.
Note that Bentley’s optimization began last year. These include the end of mass production at the brand’s plant in Crewe, England, and the transformation of the company into a specialized manufacturer of special bodies, one-off pieces, small series and long wheelbase vehicles. However, this was avoided by increasing the efficiency of the enterprise, reducing costs and cutting 1,000 jobs, which is equivalent to a quarter of the workforce.
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