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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: We're going to stay in Monterey and bring in Frank

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Speaker 2: Stephen Wallacer Bentley Motors chairman and CEO. He joins us

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Speaker 2: from the Quail and Frank, great to have you. Before

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Speaker 2: we get to the turmoil the tariffs, the wealth effect,

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Speaker 2: I want to talk about that orange Bentaga next to you.

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Speaker 2: Is that the new Bentaga Speed and what kind of

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Speaker 2: demand do you expect?

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Speaker 1: Yes, exactly, that's the Bentaga Speed. So good morning from Monterrey.

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Speaker 1: That's our latest version of the of the Bentaga and

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Speaker 1: ice only engine six hundred and fifty horses. Showed it

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Speaker 1: just a couple of weeks ago in Montana. Very very

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Speaker 1: good feedback from media so far. Customers to early. They

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Speaker 1: will get in the car beginning of next year, end

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Speaker 1: of this year, maybe the first, but we see it's

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Speaker 1: a car that that really is asked for by the markets.

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Speaker 2: We've seen. I mean, the markets are on fire right

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Speaker 2: if you look at equities, if you look at bitcoin,

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Speaker 2: the wealth effect must be strong and the pull forward

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Speaker 2: effect has been great as well. What kind of demand

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Speaker 2: are you seeing from customers.

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Speaker 1: Well, it's different in different parts of the world. US

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Speaker 1: is kind of stabilizing, I would say it's too early

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Speaker 1: to really judge it because it's always long term. You

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Speaker 1: have seasonality inside, you have depending for shures on what

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Speaker 1: you offering cars BEVNTEGA Speed will definitely give a momentum

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Speaker 1: on the sales. What do we expect new Continental coming

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Speaker 1: now with the high power not the ultra high power

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Speaker 1: version and this is very very well received in the market,

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Speaker 1: so we expect why shipping the cars in the third

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Speaker 1: quarter also another momentum for our sales figures.

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Speaker 2: For the most part, Bentley's, I guess Bentley's can only

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Speaker 2: be produced in Crewe, right If you're buying a Bentley,

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Speaker 2: you're basically buying piece of that factory. That craftsmanship, those

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Speaker 2: artisans is what you're paying the premium for. So there's

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Speaker 2: no way you can really move production anywhere else, is there.

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Speaker 1: No? And it's also for sure it's not intended because

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Speaker 1: part of the excitement is you have a British kind

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Speaker 1: the British guy has to come from the UK. It's

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Speaker 1: like as we's watch, very very clear. But with the

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Speaker 1: agreement between UK and US, I feel we're in a

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Speaker 1: very good position. We have approximately seven and a half

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Speaker 1: percent higher tariff than it was before, So we don't

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Speaker 1: expect that this has a big impact on our business.

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Speaker 1: In the business in general, it's more the uncertainty, I

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Speaker 1: would say, because also we did not raise any prices

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Speaker 1: so far, nothing is adjusted, so we expect just business

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Speaker 1: going on.

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Speaker 2: So exactly, I mean, the UK has a special deal

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Speaker 2: with the US and auto exports a flat ten percent

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Speaker 2: tariff to be two and a half. You haven't raised prices,

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Speaker 2: you say, have you been able to take some price

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Speaker 2: from your suppliers, have you been able to get some

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Speaker 2: padding there?

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Speaker 1: No, at the moment, it's all too early because we

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Speaker 1: have carefully really watched the markets, what's happening there, what's

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Speaker 1: happening on the pricing site, supplies and different But no,

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Speaker 1: we did not take any action there.

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Speaker 2: I'm curious, Frank, if customers are waiting for new generations

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Speaker 2: of cars that come from you. You have, you know,

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Speaker 2: personally a great history out of Germany, out of Stuttgart,

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Speaker 2: and there's pretty high expectations for what you can do

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Speaker 2: with this brand. A lot of the vehicles you're selling

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Speaker 2: are fantastic cars obviously, really works of art and engineering masterpieces.

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Speaker 2: But do you see anybody waiting for the first wallacer

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Speaker 2: cars to come out of Bentley.

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Speaker 1: If you want to call it like that. Yes, people

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Speaker 1: are already asking and waiting for it, and I have

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Speaker 1: to ask for a little bit of more patients. But

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Speaker 1: it's on the way. The first car will come, and

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Speaker 1: we're already talking with customers, not with media, but with customers.

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Speaker 1: We are talking about some ideas we haven't projects we

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Speaker 1: have started, and there's a lot of excitement. I can

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Speaker 1: tell you, very very positive feedback.

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Speaker 2: I know you're there with my good friend Hannah Elliott.

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Speaker 2: She's my co host on our podcast Bloomberg Hot Pursuit,

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Speaker 2: and she and I recently went to Lamar. It was exciting,

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Speaker 2: and a lot more manufacturers are getting involved, not just

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Speaker 2: in world endurance car racing, but in motorsport in general.

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Speaker 2: It's become really important, I think, to the car buying public,

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Speaker 2: especially at the level where you're playing. Does Bentley have

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Speaker 2: any aspirations to get involved, to get back into you know,

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Speaker 2: especially the Lamal series. Is I think of Bentley when

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Speaker 2: I think of that series.

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Speaker 1: Well, Bentley has in general very wide and very long history,

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Speaker 1: especially with Lemont more than hundred years involved their many

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Speaker 1: many famous victories back in the twenties, but then also

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Speaker 1: the famous victory in two thousand and three when the

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Speaker 1: brand was kind of relaunched and got more established by

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Speaker 1: itself split with the siblings. So there's a rich heritage,

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Speaker 1: and for sure motorsport always played an important role in it.

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Speaker 1: Un As you say, more and more com manufacturers are

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Speaker 1: entering and motorsport is a very important part also of

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Speaker 1: the brand image of a company, and that fits for

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Speaker 1: sure also to Bentley. On the other hand, we have

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Speaker 1: to make business decisions we have. It's all about also

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Speaker 1: timing to get the right timing to enter motorsport, because

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Speaker 1: it's also clear if you have fifteen brands going to Lemon,

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Speaker 1: you're number sixteen. You share everything with fifteen others. So

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Speaker 1: when it's the right timing, when it's the right technology,

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Speaker 1: and also you need serious money to raise in Lemont,

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Speaker 1: and this equation has to be solved. And then we'll see.

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Speaker 1: We have no plans for the moment, but it's not

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Speaker 1: that we say no, we would never talk on something

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Speaker 1: like that.

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Speaker 2: All right, well, we look forward to it, Frank, and

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Speaker 2: I hope you have a fantastic weekend at Monterey Carr

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Speaker 2: week at the Quail Now and Pebble Beach Leader, Frank

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Speaker 2: Stephen Wallacer, Bentley Motors Chairman and CEO