A subsidiary of BMW AG, Rolls-Royce Motor Cars, sets its sights on boosting sales at least 10 percent in 2011 as the maker of ultra-luxury vehicles increases deliveries in China and seeks to attract younger buyers. Rolls-Royce, which competes with Daimler AG's Maybach and Volkswagen AG's Bentley divisions, almost tripled sales to a record in 2010.
Rolls-Royce said full-year sales in 2010 increased to 2,711 cars, led by growth in Asia, the United States and the Middle East. The carmaker's previous sales record was set in 2008, when it delivered 1,212 vehicles.
In a recent interview with Bloomberg Television, CEO Torsten Mueller-Oetvoes said young Asian entrepreneurs will help the company increase sales by "at least a two-digit figure" in percentage terms. He added that China will form the company's biggest market as early as 2014, with its Ghost sedan fueling demand.
Tim Urquhart, a senior analyst at industry consultant IHS Automotive in London, said he expects Rolls-Royce sales in China to increase by a third to 287 cars in 2011.
He said that it is “difficult” to overstate the importance of the Chinese market to the premium car makers. He also said that China will provide the majority of volume growth for the premiums for the next decade at least. [via autonews - sub. required]