Rolls-Royce notices record sales in 2022, with no letup in spending by the moneyed

January 11, 2023: Rolls-Royce sold a record number of cars in 2022 as demand for its $500,000 vehicles is strong, despite slump fears, according to CEO Torsten Muller-Otvos.

“We haven’t witnessed any slowdown or downturn,” Muller-Otvos stated. “We haven’t seen any negative impact,” he added.

The British carmaker, owned by BMW, keeps its profits and revenue intact. Rolls-Royce delivered 6,021 cars in the previous year, up 8% over 2021 and the initial time the firm struck the 6,000 mark. But the firm said the average price of a Rolls-Royce increased to $534,000 last year thanks mainly to its customization program known as Bespoke.

With Bespoke commissions, customers help design and customize their Rolls-Royce vehicles with everything from unique paint colours to silk-embroidered headliners, one-of-a-kind wood materials and personalized champagne chests.

The firm opened an invitation Private Office in Dubai to better service VIP and Bespoke people in the Middle East, the leading area for ultra-customized ‘High Bespoke’ vehicles, and stated more Private Offices would open around the world in the coming months.

Still, the U.S. was the significant market overall for Rolls-Royce in 2022, accounting for almost 35% of its global sales, Muller-Otvos said. China, its second-largest market, saw a downfall in sales but still stated 25% of global sales and posted its second strong year for the firm. Muller-Otvos said China is opening, and economic recovery could help make China a significant future market.

“I foresee that market standing quite a stunning firm for us,” he said. “Particularly in the luxury segment, it’s in development mode. I would not be surprised to see that China is our significant region worldwide.”

The firm’s SUV, the Cullinan, was its bestseller in 2022, making up about half of the global sales, Muller-Otvos said. Its Ghost model accounted for more than 30% of sales, while the Phantom accounts for about 10%.

Therefore, the automaker’s largest launch of 2022 was the Spectre, Rolls-Royce’s initial electric vehicle and the starting of its plan to become completely electric by 2030.

Spectre, with a beginning price of $413,000, saw over 300 preorders from U.S. customers before it was officially unveiled last October. Muller-Otvos stated that U.S. orders have continued to climb, though he refused to provide numbers.

“Far more than 300,” he said. “The order book has exceeded even our highest expectations.”

Rolls-Royce has a significant order backlog that will help cushion the firm against any potential recession, Muller-Otvos said. The backorders, which stretch for nearly a year, meant anyone purchasing a Rolls-Royce today would have to wait for ten months and a year, depending on the model and features.