Rolls-Royce, Bayerische Motoren Werke AG (BMW)’s ultra-luxury car brand, will debut a new model, called the Wraith, expanding its lineup to tap growing demand from wealthy consumers in the U.S. and China.
The new model will be the “most dynamic and powerful” car in the brand’s 108-year history, the Goodwood, England-based carmaker said today in a statement. Rolls-Royce will unveil the vehicle at the Geneva Motor Show on March 5 and deliveries will start in the fourth quarter.
“Rolls-Royce Wraith will draw superlatives when it is unveiled,” Chief Executive Officer Torsten Mueller-Oetvoes said in the statement. “Wraith alludes to an almost imperceptible but powerful force, something rare, agile and potent, a spirit that will not be tethered to the earth. It is the perfect name for our new model.”
Rolls-Royce, which currently sells the $380,000 Phantom and smaller Ghost, competes with Volkswagen AG (VOW)’s Bentley at the top end of the auto market. Bentley outsells Rolls-Royce by more than two to one, thanks to the sporty $189,900 Continental GT.
Global sales of cars costing more than 100,000 euros ($130,000) are forecast to beat the 2007 peak this year and will climb 35 percent to almost 540,000 by 2015, according to IHS Automotive. The jump is fueled by a 52 percent surge in demand in North America and 34 percent climb in China.
The name of the new Rolls-Royce is derived from a 1938 model. The BMW unit didn’t release any details about the car.
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