BMW’s Rolls-Royce brand will miss its 2004 sales target for the super-luxury Phantom limousine by up to 25%, Reuters reported, citing the Financial Times newspaper.
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Citing people close to Rolls and BMW, the paper reportedly said the company was likely to sell 750 to 800 Phantoms in its first full year of production, well below its 1,000 target.
“Targets are set as objectives and of course they are often set high to encourage people to aim high,” the paper quoted Graham Biggs, Rolls’s head of corporate communications, as saying. The paper reportedly said the setback could cost $US99 million in revenues.
Reuters noted that the Phantom limousine was re-launched by BMW last year, but has struggled in a sluggish market for super luxury cars.
The German automaker sells about one-quarter of all its vehicles in the United States, its largest individual market, the news agency added.
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