The Worlds Super Rich Continue Spending On Luxury Goods & Cars |
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Paul Sheals
4 August 2014
The global demand for luxury cars has seen a huge spike as Rolls-Royce and Bentley both report record sales for the first half of 2014.
While they haven't released their full quarterly report, Bentley said it is on course for record-breaking sales in 2014.
Bentley Motors, who are owned by German manufacturer Volkswagen, delivered 5,254 cars in the first six months of the year, 23% up on last year.
Much of the increased demand can be attributed to a soaring demand in China and the Middle East, where sales increased by 61% and 27% respectively.
In the first half of 2014, Bentley sold 1,318 cars to motorists in China, compared to 817 cars in the same period last year.
The Bentley Flying Spur, which costs around £150,000, is a particularly common sight in Beijing.
Bentley Motors, who are based in Crewe, also saw strong performance in Europe, with sales up by 11% overall and 2% in the UK.
Bentley's fortunes mirror those of rival Rolls-Royce, which announced record half-year sales last week.
Like Bentley, sales for the British luxury car manufacturer were driven by increased demand in China, Europe and the United States.
Despite starting at around $263,000, Rolls-Royces are more popular than they have even been, and have become the vehicle of choice for the new global elite.
This reflects the growing number of billionaires around the globe, which has shot up since last year.
A survey in Forbes found that there are currently 1,645 billionaires in the world, 219 more than a year ago.
The car manufacturer, whose parent company is BMW, said 1,968 cars were sold in the first half of this year compared to 1,475 in the same period last year, a 33% rise.
Rolls-Royce spokesman Andrew Ball said 70% of Rolls buyers are new to the brand, and roughly half choose to customize their cars with bespoke products.
Although the brand has evolved in recent years thanks to BMW, the Rolls-Royce brand remains an essentially British one, though it has managed to shake off its 'old man' image of years gone by, argues salesman Stephen Foulds.
He said the customer base was growing younger, and spoke of one Chinese man in his 20s who traded in his Lamborghini when he was starting a family because he needed a backseat.
Octane Magazine deputy editor Mark Dixon said that, with the help of some of the state-of-the-art features BMW has introduced, Rolls-Royce has managed to reinvent itself to appeal to a younger audience.