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China is now the world’s biggest market for Rolls-Royce Motor Cars, knocking the U.S. out of the top spot.
In 2013, the British-made brand synonymous with luxury sold 3,630 cars around the world—with just over a thousand, or 28%, bought in China.
The car maker’s China sales grew 11% over 2012, Rolls-Royce China head Henrik Wilhelmsmeyer said in an interview Thursday. “It’s been an outstanding year.”
In the past, Rolls-Royce sales on the mainland were included as part of Greater China, which also included Hong Kong and Taiwan. This is the first time the People’s Republic has emerged as the company’s top market on a standalone basis.
Consultancy A. T. Kearney estimates the Chinese market for ultraluxury sedans and sports cars, including brands such as Rolls-Royce and Porsche, is 5,000 vehicles annually. But it warns growth for this segment is likely to slow significantly compared with the double-digit gains seen in recent years.
Still, a slowdown in the Chinese economy and a government-led austerity drive hasn’t dampened demand for Rolls-Royces here, including for its recently launched luxury coupe, the Wraith.
The car has a manufacturer-recommended price, including taxes, of 4.7 million yuan, or around $770,000—a bargain compared with the auto maker’s pinnacle Phantom model, a basic version of which goes for around 8 million yuan. But it’s the Ghost (around 4.2 million yuan) that remains Rolls-Royce’s best-seller in China, accounting for two-thirds of its sales in 2013.
The auto maker is also expanding its reach in China, with 20 dealerships now throughout the country—including in traffic-clogged cities such as Wuhan. Five more locations, including southwestern Kunming and Guiyang in the south, are on the list to be added this year.
Rolls-Royce is taking steps to tailor its products and services to China’s increasingly demanding super rich. Since most Chinese buyers of its Phantom model don’t drive themselves, Rolls-Royce recently launched a chauffeur-training program that it will rollout nationwide this year.
It has also developed its Majestic Horse Collection—a limited number of Ghosts inspired by classical interpretations of the horse in traditional Chinese art, timed to coincide with the Chinese Year of the Horse, which kicks off at the end of this month.
The cars come with head rests and pillows embroidered with images of horses and are finished with interior panels made of wood—the element associated with the coming Lunar year. The car maker did something similar for the Year of the Dragon.
The company is also early in designing a luxury SUV, which would pitch it against rival luxury manufacturers Bentley Motors and Jaguar Land Rover, but a production decision could be years off, Rolls-Royce Chief Executive Torsten Mueller-Oetvoes said.
SUVs are hugely popular in China, with sales of the vehicles surging 50% in 2012 over the previous year, according to industry group China Association of Automobile Manufacturers.
“We’re carefully observing market trends in China…we’re investigating the possibility of an SUV,” said Mr. Wilhelmsmeyer. But he added: “Whenever a new car is being decided, we have to consider the global market.”
China Tops U.S. as Rolls-Royce’s Biggest Market - China Real Time Report - WSJ
In 2013, the British-made brand synonymous with luxury sold 3,630 cars around the world—with just over a thousand, or 28%, bought in China.
The car maker’s China sales grew 11% over 2012, Rolls-Royce China head Henrik Wilhelmsmeyer said in an interview Thursday. “It’s been an outstanding year.”
In the past, Rolls-Royce sales on the mainland were included as part of Greater China, which also included Hong Kong and Taiwan. This is the first time the People’s Republic has emerged as the company’s top market on a standalone basis.
Consultancy A. T. Kearney estimates the Chinese market for ultraluxury sedans and sports cars, including brands such as Rolls-Royce and Porsche, is 5,000 vehicles annually. But it warns growth for this segment is likely to slow significantly compared with the double-digit gains seen in recent years.
Still, a slowdown in the Chinese economy and a government-led austerity drive hasn’t dampened demand for Rolls-Royces here, including for its recently launched luxury coupe, the Wraith.
The car has a manufacturer-recommended price, including taxes, of 4.7 million yuan, or around $770,000—a bargain compared with the auto maker’s pinnacle Phantom model, a basic version of which goes for around 8 million yuan. But it’s the Ghost (around 4.2 million yuan) that remains Rolls-Royce’s best-seller in China, accounting for two-thirds of its sales in 2013.
The auto maker is also expanding its reach in China, with 20 dealerships now throughout the country—including in traffic-clogged cities such as Wuhan. Five more locations, including southwestern Kunming and Guiyang in the south, are on the list to be added this year.
Rolls-Royce is taking steps to tailor its products and services to China’s increasingly demanding super rich. Since most Chinese buyers of its Phantom model don’t drive themselves, Rolls-Royce recently launched a chauffeur-training program that it will rollout nationwide this year.
It has also developed its Majestic Horse Collection—a limited number of Ghosts inspired by classical interpretations of the horse in traditional Chinese art, timed to coincide with the Chinese Year of the Horse, which kicks off at the end of this month.
The cars come with head rests and pillows embroidered with images of horses and are finished with interior panels made of wood—the element associated with the coming Lunar year. The car maker did something similar for the Year of the Dragon.
The company is also early in designing a luxury SUV, which would pitch it against rival luxury manufacturers Bentley Motors and Jaguar Land Rover, but a production decision could be years off, Rolls-Royce Chief Executive Torsten Mueller-Oetvoes said.
SUVs are hugely popular in China, with sales of the vehicles surging 50% in 2012 over the previous year, according to industry group China Association of Automobile Manufacturers.
“We’re carefully observing market trends in China…we’re investigating the possibility of an SUV,” said Mr. Wilhelmsmeyer. But he added: “Whenever a new car is being decided, we have to consider the global market.”
China Tops U.S. as Rolls-Royce’s Biggest Market - China Real Time Report - WSJ
