Rolls-Royce unfazed by cost of living crisis as annual sales hit record

Rolls-Royce LONDON, UNITED KINGDOM - APRIL 14: The Rolls Royce Cullinan in Mayfair, London. The Cullinan is Rolls Royces first attempt at an SUV, and is also the brands first all wheel drive vehicle. (Photo by Martyn Lucy/Getty Images)
The Rolls-Royce Cullinan SUV enjoyed the greatest demand overall. Photo: Martyn Lucy/Getty

The cost of living is squeezing UK households but some have not felt the sting as luxury car marker Rolls-Royce has reported a record year for sales.

Rolls-Royce Motor Cars reported a record 6,021 sales in 2022, an 8% increase on 2021’s record of 5,586, and the first time in its 118-year history that annual sales have exceeded 6,000.

Records were set in several key markets, including the UK and Germany.

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The value of bespoke commissions ⁠— from customers seeking to customise their new car ⁠— also reached record levels in 2022.

Torsten Müller-Ötvös, CEO of Rolls-Royce Motor Cars, revealed clients are making ever more imaginative and technically demanding requests.

“The unrivalled bespoke creativity and quality achieved by our team here in Goodwood means that on average, our clients are now happy to pay around half a million euros (£440,000) for their unique motor car,” he said.

Bangkok, Thailand - April 4, 2021: Luxury car Rolls-Royce Ghost exhibited in BANGKOK INTERNATIONAL MOTOR SHOW 2021
The Ghost saloon was the most popular model in the Asia-Pacific region. Photo: PA/Alamy

The company, which employs 2,500 staff, said that strong performance in the Middle East, Asia-Pacific, the USA and Europe drove its global sales increase.

A “single-digit” drop in sales was recorded in Greater China ⁠— which includes mainland China and areas such as Hong Kong ⁠— due to “ongoing headwinds” but this was “successfully counterbalanced by increased sales in other markets”, according to the car maker.

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The Cullinan SUV enjoyed the greatest demand overall, although the Ghost saloon was the most popular model in the Asia-Pacific region.

Demand for all models “remains exceptionally strong” with advance orders “secured far into 2023”, the BMW-owned (BMW.DE) company added.

Watch: Rolls-Royce unveil the Spectre ⁠— their first ever electric vehicle