Luxury car manufacturer Rolls-Royce broke sales records in 2022. This situation is seen as an indication that the signs of slowdown in the global economy are not reflected in the spending habits of the rich.
The global economic recession has not yet been reflected in the luxury consumption habits of the rich. In 2022, the luxury car brand Rolls-Royce broke sales records.
Rolls-Royce sold a record number of cars in 2022, as demand for its $500,000 ($9.38 million) vehicles remained strong despite recession fears, according to data released by company CEO Torsten Muller-Otvos.
Rolls-Royce delivered 6 thousand 21 cars in 2022, increasing its sales by 8 percent compared to 2021.
Thus, for the first time in the company’s history, it crossed the 6,000 mark. The average price of the vehicles of the British automaker owned by BMW had increased to 534 thousand dollars (10 million TL) last year.
Muller-Otvos says the US is the largest market for Rolls-Royce in 2022, with sales there accounting for 35 percent of global sales.
China, the company’s second largest market, accounted for 25 percent of global sales. Muller-Otvos stated that with the reopening of China, this country could become the company’s largest market in the future.
The luxury automaker opened a private office in Dubai last year to better serve the wealthy in the Middle East, and announced that it will open more private offices around the world in the coming months.
The company allows bespoke customers to customize the cars they buy. From unique paint colors to silk-embroidered ceiling tiles, one-of-a-kind wood materials and personalized champagne crates, everything can be customized to the customer’s wishes.
Speaking about 2023, Muller-Otvos said that it is difficult to predict so early, but the indicators point to a strong potential.
“I am not saying we are immune from recessionary trends,” Muller-Otvos said. We have seen years where our business has been affected. But I am cautiously optimistic that we will have another strong year in 2023.”
Muller-Otvos said Rolls-Royce already has a large order stack despite any potential recession. Pre-orders take about a year to deliver. This means that a customer who buys a Rolls-Royce today has to wait between 10 months and a year.