Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Strong demand revs Rolls-Royce car sales to a record high in 2021

Stock MarketsJan 10, 2022 11:46AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Three Rolls-Royce cars owned by late fashion designer Karl Lagerfeld are displayed before the auction of Karl Lagerfeld’s Collection by Sotheby's auction house in Monte-Carlo, Monaco, November 30, 2021. REUTERS/Eric Gaillard

By Nick Carey

LONDON (Reuters) -Luxury carmaker Rolls-Royce (OTC:RYCEY), a unit of Germany's BMW, said on Monday its sales soared 49% to a record high in 2021 despite the global coronavirus pandemic, as demand worldwide for luxury vehicles surged.

In an online presentation, Rolls-Royce CEO Torsten Müller-Ötvös said the carmaker sold 5,586 vehicles to customers in more than 50 countries, the largest number in its 117-year history despite all the volatility wrought by the pandemic.

"In the luxury sector as a whole, the struggle was not so much focused on attempting to find customers, but rather producing enough product to satisfy huge customer demand," Müller-Ötvös said.

He said sales hit all-time records in most regions, including China and the Americas.

Premium and luxury car sales have been growing more broadly in key global markets such as China and the United States as pandemic travel restrictions have left wealthy consumers with more disposable income.

"Covid forced many people to ground, not to travel anymore and for that reason there is quite a lot of wealth accumulated and that is spent on luxury goods," Müller-Ötvös told Reuters. "We profited from that development."

He said the carmaker's British plant in Goodwood was running at close to maximum capacity and its order books were full well into the third quarter of 2022.

"If you order a Rolls-Royce today, you will expect to take delivery of it about a year from now," he said.

Luxury British carmaker Bentley, a unit of Volkswagen AG (OTC:VWAGY) said last week that it had cruised to a record year in 2021 as global sales jumped 31% amid strong demand for high-end vehicles.

Last week BMW said it had achieved record sales of over 2.2 million vehicles from its BMW brand in 2021, outstripping 2019 sales despite a global shortage of semiconductor chips.

Müller-Ötvös said that while the chip shortage was cause for concern, Rolls-Royce's parent BMW had "assured that we could take delivery of all the chips we need to build our cars, so we haven't seen any shortages."

Strong demand revs Rolls-Royce car sales to a record high in 2021
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Tom Scurlo
Tom Scurlo Jan 10, 2022 8:49AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I guess RR has no problem getting computer chips for their cars.
la popeye
la popeye Jan 10, 2022 8:49AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Amine Fourali
Amine Fourali Jan 10, 2022 8:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Rolls, Rolex, Chanel thanks Jerome
Steffen vdm
Steffen vdm Jan 10, 2022 6:08AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well, the money that was pumped into the market needs to go somewhere
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email