Rolls-Royce Motor CEO Predicts Fifth Record Sales YearBloomberg News
Rolls-Royce Motor Cars Ltd., the ultra-luxury unit of Bayerische Motoren Werke AG, will probably post a fifth consecutive year of record sales, helped by demand in China and Japan, according to its chief executive officer.
Sales in China will probably be a record this year, while deliveries in Japan have surged under the economic policies of Prime Minister Shinzo Abe’s administration, CEO Torsten Mueller-Oetvoes said in an interview in Beijing today. Sales may rise in Russia this year as buyers look for investment vehicles to hold their value amid a slumping ruble, he said.
“The world economy is much stronger than it had been before,” Mueller-Oetvoes said in an interview before the Beijing auto show, which opens to the public next week. “You always see certain countries which are puzzling but Europe is coming back now, United States is very strong back. I think China is still a very sustainable economy over the next years to come.”
His comments underline how demand for Rolls-Royce Motor vehicles has remained resilient in China, the world’s largest auto market, despite a crackdown on corruption and campaign against official extravagance that’s chilled luxury spending from fine dining to Swiss watches.
The Goodwood, U.K.-based manufacturer delivered 3,630 cars globally last year for a fourth consecutive annual sales record, buoyed by a in Middle Eastern deliveries and gains in China. Foreign auto brands in Japan, which last year saw its steepest stock-market rally in four decades, have seen their share of the market there climb to a record.
“They are very much bouncing back, thanks to Abe and his economics,” Mueller-Oetvoes said, in reference to the Japanese prime minister. “This also shows you that Rolls-Royce in a certain way is linked into what happens into the economy in a broader sense because it’s all about feel good factors, how do you feel, it’s consumer sentiments, and if the economy is good our business is picking up.”
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