Rolls-Royce CEO sees strong growth in Asia

Article by Anita Panait, on October 14, 2013

Torsten Müller-Ötvös, chief executive of Rolls-Royce Motor Cars, observed strong growth across Asia following a tour of this part of the world. Rolls-Royce's CEO had his last stop in Manila, Philippines, where he led a ceremony marking the start of the carmaker's operations in the country. There are strong early indications in the Philippines, which recently has seen its number of individuals with ultra-high net worth increase in double digits.

Prior to his Manila trip, Müller-Ötvös was in Singapore gracing the carmaker's significantly expanded showroom. Rolls-Royce has regarded the expansion into new and emerging markets as an important part of its sustainable growth plans. The carmaker has posted strong growth in Japan in the first nine months of 2013, thanks to the growing consumer confidence in the country.

Rolls-Royce has expanded its operations into Osaka and recently moved to a larger, premium space in Tokyo. The number of ultra-high net worth individuals in Japan grew by 11 percent, thanks to economic measures undertaken by the Japanese government.

Rolls‑Royce Motor Cars also logged strong growth in China both in the third quarter and in the first nine months of 2013, despite negative market sentiment in the mass-luxury segment. The carmaker's growth in the country has been attributed to sustained demand for Phantom and Ghost models as well as gains in the number of customers commissioning Bespoke Rolls-Royce motor cars.

“I am delighted to report very pleasing growth across Asia. Continuing success in existing markets and successfully executed entry into emerging territories forms a key part of our long-term sustainable growth plans,” said Torsten Müller-Ötvös, Chief Executive, Rolls-Royce Motor Cars, speaking from Tokyo today. [source: Rolls-Royce]

Topics: rolls-royce, ceo, asia

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries