Rolls-Royce reported a record year for sales in 2022 with 6,021 cars sold, this being a rise of 7.8% from 2021. Despite a decline in the Chinese market, the second highest market worldwide for Rolls-Royce after the United States, the year saw an average sales price of $534,000.00.
The shortfall in China was due to coronavirus-related issues and lockdowns in the country but the US market remained in good shape, with 35% of sales worldwide coming from here. The Chinese drop in sales was, however, offset by significant growth in other markets.
The order book for 2023 is already looking healthy for all models, with Rolls-Royce CEO Torsten Muller Otvos stating they had not seen any slowdown in orders yet, despite no longer selling to the Russian market as a result of the Ukraine situation.
The Cullinan was the biggest seller during the year making up almost half of the global sales, with the Ghost also contributing greatly to the record figures with a 30% share and the Phantom at 10%, the first time that Rolls-Royce has sold over 6,000 cars in a single year.
The customized and bespoke approach of the Rolls-Royce brand has resulted in customers demanding even more personal and imaginative orders. These commissions enable the customer to help design their own vehicle in all areas such as paint colour schemes, embroidered headliners, one-off wooden materials and even personalized drink cabinets and champagne chests.
With the opening of a Private Office in Dubai for invitation-only clients and to better serve their VIP and bespoke clients in the Middle East, this region has developed into the leader in highly customized and "high-end" bespoke vehicles. As a result, more of these Private Offices are expected to open around the world this year.
Despite a drop in sales, China still contributed 25% of the global sales figure. With the country reopening and with economic recovery, it is quite possible that China could ultimately become the largest market in the not-too-distant future.
The Spectre was also introduced in 2022, being officially unveiled in October. Even with a starting price of just over $400,000.00, more than 300 preorders were seen from the USA. This is Rolls-Royce's first venture into the electric car market, with its long-term plan to become fully electric by 2030.
With a large backlog of orders, the future looks strong for the company. A purchase today could mean a wait of 10 months to a year for a new customer, depending on the model and specific features.
2023 looks to be one of continued strength for Rolls-Royce, with a cautious level of optimism for another strong year.
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