Car sales have been dwindling around the world since the pandemic hit. Lockdowns have certainly made buying a car rather redundant and turning the prospect of buying one a distant goal. Most analysts say that the V-shape recovery most of us are hoping for might not come around soon, but not everyone agrees with that statement.
Speaking to Reuters this week, Torsten Muller-Otvos said that he is seeing a recovery in the luxury market, at a faster pace than anticipated. Despite dealerships being closed for extended periods o time and people having to readjust their financials, that doesn’t seem to affect the upper echelons of the industry too much. Certainly, the ultra-rich who can afford a Rolls-Royce were probably not hit as hard as regular folk.
“We see a very fruitful business now coming back from Asia, also Europe is coming back on track, the Americas just delivered an excellent July result and August result,” the boss of the BMW-owned Rolls-Royce Motor Cars told Reuters.
“I am quite optimistic looking into 2021, particularly on the back of a very strong order bank we have already on our books.” That’s very encouraging, especially as the new Ghost just arrived on the scene yesterday.
As for the headwinds the company is facing right now, despite Brexit taking place, the company has no plan on moving out of the UK. That’s quite logical too, because whoever can afford such a car, can also afford the extra taxes on it should they be enforced once the UK leaves the EU.
“We are committed to Britain. I would even call us being part of the British industrial crown jewels,” he said. “For that reason, Rolls-Royce belongs to Britain.”