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Rolls-Royce seeks Chinese buyers as growth slows
By Xiao Lu |
January 23, 2013, Wednesday
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Print Edition
Print Edition
ROLLS-ROYCE celebrated the 10th anniversary of settling its base in Goodwood, Britain, with record high global sales last year. But it was a squeaker triumph on the back of only 1 percent growth.
The performance by the 108-year-old luxury carmaker was in stark contrast to the 31 percent sales increase in 2011 and the 171 percent surge in 2010. The company faces increasing challenges if it wants to stay at the top of its game. That's particularly true in China, which absorbed about 30 percent worldwide delivery of 3,575 Rolls-Royces last year.
Torsten Müller-?tv?s, chief executive officer of Rolls-Royce Motor Cars, said the sales spurts in 2010 and 2011 came on the back of new product launches, such as the extended wheelbase version of the Ghost.
And the economic situation last year was "not easy," he said.
"Slower sales growth was expected," Müller-?tv?s said. "In China, we saw a bit of hesitation among our customers early last year."
But the situation began to turn around in the second half of the year, and China managed to finish 2012 neck-to-neck in sales with first-ranking North America.
Müller-?tv?s said he is optimistic about prospects this year, noting 5 percent annual growth in the number of ultra-wealthy people worldwide. He said he won't be surprised if China does regain the No. 1 market position within the company that it first achieved in 2011.
Rolls-Royce is mulling plans to expand its Chinese dealership network this year in the less-developed market of western China, where growth opportunities abound.
According to Müller-?tv?s, the luxury of a Rolls-Royce appeals to people in China who are highly educated, high-profile and highly successful in their careers. They expect and demand super quality craftsmanship in a car.
That's one reason why the company is sticking with its ultra-luxury image rather than downplaying it to appeal to a lower-income buyer.
Müller-?tv?s said Rolls-Royce last year experienced a substantial increase in bespoke requests from China, which shows the desire for exclusivity by buyers. Each year, many Chinese customers visit the company's manufacturing base in Goodwood to see the production process first-hand.
With the Year of the Snake beginning on February, the company is anticipating customized requests with serpentine twists.
Rolls-Royce is expected to bring its brand-new Wraith model to the 15th Shanghai International Automobile Industry Exhibition in April and start deliveries of the car in the fourth quarter.
The performance by the 108-year-old luxury carmaker was in stark contrast to the 31 percent sales increase in 2011 and the 171 percent surge in 2010. The company faces increasing challenges if it wants to stay at the top of its game. That's particularly true in China, which absorbed about 30 percent worldwide delivery of 3,575 Rolls-Royces last year.
Torsten Müller-?tv?s, chief executive officer of Rolls-Royce Motor Cars, said the sales spurts in 2010 and 2011 came on the back of new product launches, such as the extended wheelbase version of the Ghost.
And the economic situation last year was "not easy," he said.
"Slower sales growth was expected," Müller-?tv?s said. "In China, we saw a bit of hesitation among our customers early last year."
But the situation began to turn around in the second half of the year, and China managed to finish 2012 neck-to-neck in sales with first-ranking North America.
Müller-?tv?s said he is optimistic about prospects this year, noting 5 percent annual growth in the number of ultra-wealthy people worldwide. He said he won't be surprised if China does regain the No. 1 market position within the company that it first achieved in 2011.
Rolls-Royce is mulling plans to expand its Chinese dealership network this year in the less-developed market of western China, where growth opportunities abound.
According to Müller-?tv?s, the luxury of a Rolls-Royce appeals to people in China who are highly educated, high-profile and highly successful in their careers. They expect and demand super quality craftsmanship in a car.
That's one reason why the company is sticking with its ultra-luxury image rather than downplaying it to appeal to a lower-income buyer.
Müller-?tv?s said Rolls-Royce last year experienced a substantial increase in bespoke requests from China, which shows the desire for exclusivity by buyers. Each year, many Chinese customers visit the company's manufacturing base in Goodwood to see the production process first-hand.
With the Year of the Snake beginning on February, the company is anticipating customized requests with serpentine twists.
Rolls-Royce is expected to bring its brand-new Wraith model to the 15th Shanghai International Automobile Industry Exhibition in April and start deliveries of the car in the fourth quarter.
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