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Rolls-Royce Motor Cars announces most successful year in 115-year history

Rolls-Royce Motor Cars announces most successful year in 115-year history
Published by
Forbes

4m read

10 January 11.44am

Hargreaves Lansdown is not responsible for this article's content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest. Article originally published by Forbes.

Rolls-Royce Motor Cars has announced its most successful year to date. With some 4,107 cars delivered to customers in over 50 countries around the world, 2018 has seen the luxury carmaker’s highest annual sales in all its 115-year history. The Phantom has been a major growth driver, followed by the Wraith and Dawn models. Rolls-Royce also enjoyed record demands for more personalized and customized cars through its bespoke department at Goodwood, UK.

Rolls-Royce CEO, Torsten Müller-Ötvös says there has been growth in all the company’s major regions around the world. “We are deeply focused on each and every one of our customers and are delivering on their demanding expectations,” he continues. “The Home of Rolls-Royce at Goodwood is acknowledged and celebrated as a global center of luxury manufacturing excellence, where our skilled, dedicated team create the world’s finest, most sought-after luxury products.”

The Americas remain the most profitable market for Rolls-Royce, followed closely by Europe and Asia Pacific. Much of the success is down to the new family of products that includes cars for traditional Rolls drivers such as the latest Phantom, as well as newcomers - the brand-new Cullinan, as well as the Wraith, Dawn, Ghost. The Black Badge editions have particularly helped in attracting a younger demographic group to the brand.

CEO Müller-Ötvös told me: “Our customers are increasingly younger buyers who have made their wealth through smart business ideas. Not just in Asia, but the US, the Middle East and here in the UK. These customers are highly educated and true global citizens. We need to cater for them. We need to cater for customers who are more bold. This was the idea behind Black Badge which has done extremely well, superseding all our expectations. Now with the Cullinan we will see even more younger customers, people who are outgoing, who want to drive their Rolls-Royces.”

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The Cullinan, Rolls-Royce’s first SUV, which went on sale at the end of last year, has seen advance orders running well into the second half of 2019. Elsewhere, the bespoke department did exceptionally well. The company has made it a priority to focus more and more on this area, to highlight the incredible skills of the crafts people at Goodwood. Complex projects such as the Phantom “Gallery” are designed to show customers what can be achieved at Rolls-Royce, what the marque sees as “near-limitless opportunities”. In 2018, the company says, the specialist craftspeople delivered some of the most ambitious customer commissions ever undertaken at Goodwood in terms of design, engineering and materials. Furthermore, Rolls is exploring its partnerships with creatives from art and design as a way of exploring what it means to be a luxury brand in the modern world.

This year saw further refinements to manufacturing facilities, equipment and processes to maximize efficiency with the single-line manufacturing system at Goodwood, installed in 2017, doing well in its first full year of operations. Furthermore, the company announced 200 new jobs mainly in skilled manufacturing roles, taking the total workforce at the headquarters in Goodwood to over 2,000 for the first time in history. Last year also saw the highest-ever intake on in the apprenticeship program. Since it was founded in 2006, over 100 candidates have completed this scheme with most, says Rolls, still with the company, many in senior technical and supervisory roles.

Müller-Ötvös says: “We set a formidable mark in 2018 and I am confident it will prove the spur to even greater success in 2019.”

This article was written by Nargess Banks from Forbes and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

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Article originally published by Forbes. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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