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Covid boosts sales of luxury car makers – RT Business News

Automaker Rolls-Royce said 2021 was “a phenomenal year” for the company, as it recorded the highest annual sales in its 117-year history of 5,586 vehicles worldwide.

This made the brand the “undisputed leader in the € 250,000 and over segment,” according to Rolls-Royce Managing Director Torsten Muller-Otvos.

He explained that the pandemic had helped the brand sell a record number of cars because it reminded customers, whose average age was 43, of their own mortality. “A lot of people have seen people in their community die from Covid and it made them think that life can be short and that you had better live now rather than postpone to a later date. “ he said, adding: “It helped Rolls-Royce.”

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The BMW-owned company has also profited from restrictions the pandemic has placed on wealthy consumers from spending their money elsewhere. “It is largely thanks to Covid that the entire luxury sector is booming around the world”, said the chief executive. “People couldn’t travel a lot; they couldn’t invest a lot in luxury services… and there is a lot of accumulated money that is spent on luxury goods.

Muller-Otvos also said sales had increased in all regions of the world, with Greater China and the Americas remaining the two largest markets.

Rolls-Royce’s Phantom model was its biggest seller, but the Cullinan SUV accounted for 30% of 2021 sales.

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