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Rolls-Royce Motor Cars CEO observes strong growth across Asia
- Strong third quarter growth in China despite downturn in mass luxury segment
- Improving economy and expansion of presence drives growth in Japan
- Successful entries into new and emerging markets
Rolls-Royce Motor Cars' Chief Executive, Torsten Müller-Ötvös, observed strong growth across Asia as he concluded his tour of the region today.
Following a visit to the marque's significantly expanded showroom in Singapore, he flew to Manila to officiate at a ceremony marking the commencement of Rolls-Royce Motor Cars' business in the Philippines. Early indications are strong in a country currently enjoying double-digit growth in the number of ultra high net worth individuals. Expansion into new and emerging markets forms a key part of Rolls-Royce's sustainable growth plans.
Confidence continues to grow in Japan, driving good year-to-date growth following expansion into Osaka and a recent move to a significantly larger, premium space in Tokyo. The effects of positive Japanese government economic measures will continue to be seen over the medium term, as the number of ultra high net worth individuals grows by 11%.
Against a backdrop of negative market sentiment in the mass-luxury automotive segment, Rolls‑Royce Motor Cars reported strong third quarter and year-to-date growth in China. This is driven by sustained demand for Phantom and Ghost models and strong growth in the number of Chinese customers commissioning highly 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. "Amid a backdrop of challenging market conditions for mass-luxury manufacturers, Rolls-Royce continues to observe good positive growth in China. Highly discerning Chinese entrepreneurs seek to purchase individually tailored, pinnacle luxury goods. This is reflected in sustained demand for highly Bespoke Rolls-Royce motor cars in the region."
Deliveries to Asian customers of Wraith, the latest Rolls-Royce model, will begin late in the fourth quarter of 2013. Demand from a growing, younger generation of confident Asian entrepreneurs promises to form a key part of the marque's continued success in the region.
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