⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

Carmaker Rolls-Royce annual sales surge 25%

Published 01/07/2020, 12:35 AM
Updated 01/07/2020, 12:37 AM
Carmaker Rolls-Royce annual sales surge 25%
F
-
BMWG
-
RR
-
VOWG_p
-

(Reuters) - Luxury carmaker Rolls-Royce (LON:RR) said on Tuesday it recorded a 25% jump in sales in 2019, underpinned by solid demand for its first-ever SUV, Cullinan, just a year after the launch.

The 116-year-old British company said it sold a record 5,152 cars in 2019, compared with 4,107 units in the prior year.

"Worldwide demand last year for our Cullinan SUV has driven this success and is expected to stabilize in 2020," Chief Executive Officer Torsten Mueller-Oetvoes said in a statement.

The Cullinan was unveiled in 2018.

The BMW-owned (DE:BMWG) brand's strong numbers serve as a breather at a time when the global automobile industry is still grappling with various challenges amid a broader economic slowdown that dented sales of automakers such as Volkswagen (DE:VOWG_p) and Ford Motor Co (N:F).

North America continued to be the biggest contributor with about a third of Rolls-Royce's total sales, followed by China and Europe.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.