Rolls-Royce hits sales record in Q1 as wealthy demand luxury cars
Rolls-Royce Motor Cars had the best quarter in its 116-year history, breaking record sales in the first quarter when the world’s rich bought their SUV and other models valued at $ 330,000.
The luxury auto company, which is owned by BMW, shipped 1,380 cars in the first quarter, up 62% from the year-ago quarter when the pandemic affected sales and manufacturing. The quarter set a record for the company, beating its 2019 high so far.
The company said demand is particularly strong for the Cullinan, its nearly 3-ton SUV that starts at $ 335,000 but typically sells for over $ 400,000 with options and customizations. Sales of the new Ghost model, which starts at $ 332,000 and has an optional LED inner canopy to simulate a starry sky, are also strong.
Rolls-Royce’s record quarter is the latest sign that the world’s rich, who have added trillions of dollars to their wealth since the pandemic began thanks to soaring markets, are ready to spend. Other high-end auto companies like Bentley and Lamborghini have also seen strong sales recently.
Rolls-Royce said demand remains strong “as the order books stretch well into the second half of 2021.”
“We have responded to the latest challenges with our usual audacity, imagination and ingenuity, which are underpinned by careful planning and a tireless focus on the needs and requirements of our customers,” said CEO Torsten Müller-Otvos in a statement.