Rolls-Royce says it plans to sell 800 cars in China next year, raising sales eightfold in two years.
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The British luxury carmaker has delivered almost 500 cars in China and Hong Kong in the first 10 months of 2010, compared with around 100 for the whole of last year.
Paul Harris, the company’s Asia Pacific regional director, told Bloomberg News that Rolls-Royce is selling more of its Phantom and Ghost sedans in China as rising incomes in the world’s fastest growing major economy boost sales of luxury cars.
Bloomberg notes that China has 875,000 millionaires, 6.1% more than last year, according to a report in April by the Shanghai-based Hurun Research Institute.
Harris said: “The Chinese market in general is showing only one direction, that’s exceptional growth, and it’s going to be ongoing for quite a while.”
A Rolls-Royce Phantom starts at CNY6.6m (US$990,000) and buyers pay CNY4.1m for a Ghost in China where consumers pay higher taxes on imported luxury models.
China will become Rolls-Royce’s biggest market, surpassing the US, as early as next year as the Ghost spurs demand for its cars, Harris said. The company sold about a third of its cars in the US last year.
Chinese customers ordering a Phantom now will have to wait until late May next year to receive their cars. Harris said: “It’s a story of success for Chinese entrepreneurial businesses, the Chinese entrepreneur works hard and wants to reward himself for a job well done.”
Rolls-Royce currently has eight dealerships in China but may add as many as four more by the middle of next year, in second-tier cities such as Tianjin and Wuhan, Harris added.
The Ghost, introduced in December, has boosted global growth for the marque after the financial crisis depressed sales 17% in 2009. Rolls-Royce delivered 2,007 cars to the end of October worldwide.
