19 December 2016

The news that Bentley has sold its stake in auto retailer HR Owen will likely only be significant to those with a good memory and an interest in history. For the number crunchers in the room it’ll be listed as just-another-financial-transaction.

With ‘heritage’ now a marketable attribute in retail circles, the Bentley angle dates back to the interwar years and the meeting of Harold Rolfe Owen and Jack Barclay. There’s a certain irony about being able to quickly Google HR Owen’s considerable history, but it’s all there on the Internet and makes for fascinating reading.

As the modern auto retailing business grows and transforms at a tremendous rate, few retailer-OEM relationships boast the depth and longevity of the one between Bentley and HR Owen. However, all good things come to an end, and news that Bentley has officially cut its ties is both timely and predictable. At least it is if you’re part of the Volkswagen Group. 

Bentley walks away with £14.8 million after selling its stake to HR Owen’s Malaysian owners BPI, which in the grand scheme of things is small beer. Think of it more as being seen to be ‘doing the right thing’ in light of VW’s dieselgate troubles and it make sense. Any talk of ‘cutting non core ties’ is PR-speak for attempting to rebuild consumer confidence and to be a better corporate citizen.

And if, like us, you’ve been on dieselgate watch since the start of the crisis, you’ll have noted that the scandal has also claimed two high profile VW motorsport programmes: Audi’s World Endurance Championship team and VW’s Polo World Rally outfit. Both are multiple world champions, but prove that nothing is sacred. Heritage is nice, but it would appear that it’s easier to put a value on consumer and shareholder trust.

Iain Dooley

Editor, Agenda

Auto Retail Network

Tags: Bentley, BPI, dieselgate, Harold Rolfe Owen, heritage, history, HR Owen, Jack Barclay, share sale, trust