Rolls-Royce Records Record Sales in 2022 Wealthy car buyers still buy $500,000 cars despite an increasingly volatile economy.
By Steve Huff
Crypto winter, inflation, and a possible recession haven't dampened wealthy car buyers' enthusiasm for the Rolls-Royce. On the contrary, the high-end automaker clocked record sales in 2022, making it clear plenty of people are still ready to shell out a half-million dollars for a name synonymous with luxury.
CNBC reports that the BMW-owned company "delivered 6,021 cars last year, up 8% over 2021 and the first time the company crossed the 6,000 mark." The same article quotes Rolls CEO Torsten Muller-Otvos, who said his company hasn't "seen any slowdown or downturn. We haven't seen any negative impact."
While CNBC's article notes that Rolls-Royce opened "an invitation-only private office in Dubai" to cater to its VIP customers, it reports that the United States was the biggest marketplace for Rolls buyers in 2022. Thirty-five percent of the company's sales of its $500,000-plus vehicles came from American buyers, with China coming in second for sales at 25%.
Here's more about the company's banner year:
The company's SUV, the Cullinan, was its bestseller in 2022, making up about half of global sales, Muller-Otvos said. Its Ghost model accounted for over 30% of sales, while the Phantom accounted for about 10%.
Meanwhile the automaker's biggest launch of 2022 was the Spectre, Rolls-Royce's first electric vehicle and the beginning of its plan to become fully electric by 2030.
According to CNBC, 300 US customers had already preordered the $413,000 Spectre before Rolls-Royce revealed the EV version of the rebooted model. While Muller-Otvos indicated orders kept climbing, he did not provide actual numbers.
The CEO also said that should there be a full-blown recession, Rolls-Royce is insulated against an economic downturn thanks to a hefty backlog of orders it will fulfill throughout the year.
While he wasn't ready to decisively declare another great year to come, Muller-Otvos sounded a positive note, saying he is "cautiously optimistic about us delivering another strong year in 2023."
