The rich are also cutting back due to the recession. If you don't believe us, just consider Bentley' announcement that it will only sell about 5,000 cars this year, a 50% reduction compared to 2007.
In a recent interview with Goauto, Bentley Motors regional director Geoff Dowding said that its officials are hopeful about 2010 being much better than 2009. Still, Bentley is being very sensible with its budgets, forecasts and predictions.
Nonetheless, Dowding disclosed that Bentley is preparing for the worst case. He stated further that recovery will be slow and that the company will act responsibly as it gets itself out of the clutches of the recession.
In 2008, Bentley sold 7,000 cars. In 2009, things went worse as sales in the US and European markets plunged by 50 percent.
If not for sales in emerging markets like China and the Middle East, its outlook would have been far worse. Dowding said that Bentley aims to sell more cars in China.
Meanwhile, he expects that sales in the Middle East will remain steady. He calls these countries as its emerging markets, which are currently what's holding up the car industry business.