Rolls-Royce CEO sees “good future” in Chinese market

LONDON: “I foresee a good future for us (Rolls-Royce) in the Chinese market, and we are also heavily investing into the Chinese market together with our partners,” said Torsten Mueller-Oetvoes, CEO of Rolls-Royce Motor Cars. Rolls-Royce delivered record annual sales in 2019 in the company’s 116-year history, with 5,152 cars sold to customers in over 50 countries around the world, an increase of 25 percent year on year, according to the latest figures released by the company. The company reported significant sales growth in every of its key global markets. North America retained top status (around a third of global sales) followed by China and Europe. “China is now back into the second position right after the North American market,” said Mueller-Oetvoes in a recent interview with media. The CEO also noted that his company, a luxury car manufacturer, even plans to launch a version of Ghost, a flagship sedan, exclusive to the Chinese market. “It’s something we are very much looking forward to do this year,” he said. There is reason for Mueller-Oetvoes’ optimism in the Chinese market. The BMW Group, of which RollsRoyce is a part, continued its positive sales trend in November last year: worldwide deliveries increased by 1.4 percent year-on-year to 225,662 vehicles, and strong growth can be seen in China. The auto industry is undergoing fast change with electric vehicle, or EV, being in the spotlight. EVs have entered into a fast track of development globally, especially in leading markets like China. Even a luxury brand like Rolls-Royce is planning to electrify its products. “Our plans are clear, and I announced it already last year. In this decade, RollsRoyce will become electric, and step by step we are already working on that project,” said Mueller-Oetvoes. This is “the future for the brand, our lighthouse and we are following that path”, he added. EVs are on track to dominate global sales of passenger cars and buses by 2040, and to encroach significantly on the market for vans and short-distance trucking, according to a forecast from research firm BloombergNEF (BNEF) released last year.– The Daily Mail-Global Times News exchange item