Rolls Royce says it ended the last year with a 25% growth in annual sales

on Jan 8, 2020
Updated: Mar 11, 2020
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  • Rolls Royce says it sold 25% more cars in 2019 as compared to that of 2018.
  • The luxury car manufacturer attributed much of the sales hike to its latest Cullinan SUV.
  • CEO Torsten Mueller-Oetvoes expects the rising demand to stabilize sales for Rolls Royce in 2020.
  • Rolls Royce noted a significant growth in sales amidst the global economic slowdown.
  • Rolls Royce continued to struggle in the stock market in 2019.

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The world-renowned car manufacturer, Rolls Royce, announced on Tuesday that it noted a significant increase in annual sales of its vehicles following the launch of an all-new Rolls Royce Cullinan. The SUV was introduced in the market in 2018.

Rolls Royce is currently owned by the BMW Group. In its announcement on Tuesday, the company revealed a massive 25% growth in its annual car sales across the world. While much of the increase was attributed to the new Cullinan SUV, the company highlighted that the rising sales are no longer confined to it as Rolls Royce Ghost, Wraith, and Dawn have recently started to catch global demand as well.

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Rolls Royce Sold 5,152 Cars In 2019 That Beat Its Own Record Of 4,107 In 2018

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In terms of figures, the 116-year-old Britain car manufacturer accentuated that it sold 5,152 cars in 2019 that beat its own record of 4,107 vehicles in 2018. According to CEO Torsten Mueller-Oetvoes, the company is confident of finding stability in terms of sales in 2020 due to the rising demand for the Cullinan SUV. Torsten further addressed concerns of exclusivity of the brand and stated that the company has not strayed from its key promise to the customers and will continue to maintain its rarity.

Following the tradition, the company announced maximum sales in the North American markets with China and Europe following in its lead. Rolls Royce currently has a global network that constitutes 135 dealerships in 50 countries. In a separate announcement, Rolls Royce also expressed its plans of launching a flagship dealership later in 2020 that is expected to be twice the size of the old one, on Berkeley Street, London.

Rolls Royce Announced Upbeat Sales Figures Despite The Global Economic Slowdown

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Rolls Royce’s upbeat figures were particularly worthy of celebration since the ongoing global economic slowdown has weighed heavily on the automobile industry throughout the world. Prominent automakers like Ford Motor Co. and Volkswagen have had its annual sales largely dented by such an economic scenario.

Despite the upbeat sales figures, Rolls Royce remained challenged in the stock market in 2019. The company started the year in January 2019 around 864 GBX and went as high as around 1,000 GBX in February. The yearly high was, however, followed by a continuous drop that saw the share prices trade as low as 661 GBX around which it is currently trading.

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