By Nick Carey

LONDON (Reuters) – British luxurious carmaker Bentley on Friday reported an 11% drop in automobile gross sales for 2023 as high-end shoppers felt the pinch of rising prices and slowing economies, with gross sales down in its high three markets – Europe, the Americas and China.

“The luxurious market was not immune from the difficult market circumstances seen all over the world within the second half of 2023,” CEO Adrian Hallmark stated in an announcement. “We stay cautiously optimistic for the yr forward, with a continued strong world demand by market and mannequin.”

Bentley stated that regardless of the general gross sales decline, customized and bespoke content material in automobiles rose 43% versus 2022. Including customized finishes, resembling leather-based and wooden, means increased margins for Bentley.

Different luxurious sellers resembling Watches of Switzerland and Burberry have additionally warned of a slowdown in demand for high-end items.

Bentley offered 13,560 automobiles in 2023, a yr after the automaker cruised to file gross sales in 2022.

The British luxurious unit of Volkswagen (ETR:) stated gross sales have been down 9% within the Americas, its main market, whereas China and Europe dropped 18% and 15% respectively.