After a record-breaking 12 months in 2022, Bentley Motors reported surging income within the first quarter thanks largely to automobile customization, CEO Adrian Hallmark mentioned.

Bentley reported its best-ever first quarter, with working income up 27% to 216 million euros, or about $232 million. Much more spectacular, particularly at a time when many automobile corporations are seeing revenue margins below strain, Bentley reported that its return on gross sales really elevated within the first quarter to 24.4% from 20.9% throughout the identical interval in 2022.

The rationale: Rich consumers are spending extra to personalize their vehicles with particular paint colours, leather-based, stitching and particulars.

“Prospects are selecting one in all our 62 paint colours, the 43 leathers we provide and plenty of choices,” Hallmark instructed CNBC. “So it is a whole shift within the configuration of the car. They usually’re shopping for the highest fashions — just like the Pace model of the Continental GT, slightly than base version.”

Hallmark mentioned the typical value of a Bentley bought has jumped 40% over the previous 4 years, however solely 9% of that improve is because of mannequin value will increase. “The remaining is content material,” he mentioned, that means upgrades, choices and personalization.

The rise of customization is driving report income throughout the super-car phase, from Rolls-Royce and Ferrari to Lamborghini, Aston Martin and McLaren. Nonetheless flush with money from Covid, and wanting to personal one-of-a-kind rides that stand out from the pack, right now’s rich automobile consumers are keen to pay steep costs for particular particulars.

In its first-quarter earnings name, Ferrari mentioned its adjusted EBITDA acquired a lift of 85 million euros, or about $91.6 million, from “larger personalisations whose contribution exceeded our projections.”

Rolls-Royce’s Bespoke division has develop into well-known for assembly uncommon consumer calls for, from matching the paint coloration of a chunk of historic Japanese ceramic to copying an Hermes design scheme on a consumer’s personal jet.

Bentley’s Mulliner Version division on the firm’s Crewe manufacturing facility is popping out report numbers of one-of-a-kind Bentley’s with particular paint colours, metallic finishes and embroidery. Some purchasers need their names or household crests embroidered on the seats. Others need particular inside lighting, or carbon-fiber particulars.

One of many firm’s hottest choices for its Continental mannequin is a rotating show, the place a bit of the dashboard flips from a plain carbon face to an infotainment touchscreen. Regardless of the steep value — at over $6,000 — the improve has been bought by practically three-quarters of consumers, based on the corporate.

“The entire world of luxurious is altering,” he mentioned. “It is not simply vehicles, it is style, all the things. If clients are going to spend that form of cash on one thing, they’d slightly pay just a little extra for the improve or choice to have one thing really particular.”

Past upgrades and personalization, Hallmark mentioned Bentley is just not seeing any indicators of a requirement slowdown from rising charges, falling shares and recession fears.

“The order consumption within the U.S., like most of our markets in the meanwhile, is admittedly robust,” he mentioned. Whereas costs for used or pre-owned Bentleys are coming down barely, Hallmark mentioned the adjustment is wholesome.

“We will see on the secondary market that residual values, as an alternative of being loopy and above retail like they had been, are actually normalizing. However the demand is admittedly robust nonetheless.”