fb

Rolling in it…

Rolling in it…

Here’s a question for you – what do you think the average age is of somebody who buys a new Rolls-Royce?

Perhaps surprisingly the average age has dropped significantly over the last decade.

The company has just reported their sales for 2019. Despite the majority of the global car market facing falling sales, Rolls-Royce have bucked the trend.

They have reported their best ever sales with a 25% increase in cars sold compared to the previous year.

In terms of Michael Porter’s generic strategy model, their strategy is a clear differentiation approach. In the words of chief executive Torsten Muller-Otvos, the brand is “rare and exclusive”.

They have also made a concerted effort to appeal to younger drivers (it’s fair to say that these are younger extremely wealthy drivers with their bestselling model the Cullinan starting at £264,000).

The Cullinan was launched in 2018 and it was a radical change for the company. Rolls-Royce had a history of luxury saloon models and the Cullinan was their first SUV 4×4 off-road car.

Mr Muller-Otvos said the increase in sales was in part down to the introduction of “black badge” versions of its cars, where the car was black inside and out.

He was quoted as saying

“This is a cooler, darker, more menacing, edgy proposition, [aimed] especially towards younger clients.”

“Many smart kids around the world building platforms or whatever making a fortune early in their life are coming to us to start investing in a Rolls-Royce”

In total Rolls-Royce sold 5,125 new cars in 2019 of which the Cullinan amounted to 40% (nearly 2,000 cars).

Oh, and in case you are interested the average age of a Rolls-Royce buyer is now 43.

Share this entry

Related articles

View All Articles

Recent articles

View All Articles
Ghosting the Algorithm: have dating apps lost their spark?
Nov 28, 2024
Title
Ghosting the Algorithm: have dating apps lost their spark?
Excerpt

In the digital age, anyone looking for romance would know about dating apps. Platforms like Tinder revolutionised how […]

Fake trades but real consequences
Nov 27, 2024
Title
Fake trades but real consequences
Excerpt

Macquarie Bank’s London branch was recently fined £13 million after a trader created fake trades to hide losses. […]

Splash out on a new purchase
Nov 25, 2024
Title
Splash out on a new purchase
Excerpt

The Swedish furniture giant IKEA often comes up with innovative advertising ideas. One of those was when they […]

Are you an adult or a kid (or both)?
Nov 19, 2024
Title
Are you an adult or a kid (or both)?
Excerpt

When was the last time you were in a toy shop or were browsing for toys online? If […]

Who invented double-entry bookkeeping?
Nov 12, 2024
Title
Who invented double-entry bookkeeping?
Excerpt

Double entry bookkeeping – for anyone who has studied accounting those 3 words may bring back fond (or […]

Not the best way to resign…
Nov 08, 2024
Title
Not the best way to resign…
Excerpt

What’s the first thing that comes to mind when you think of someone resigning from their job? Perhaps […]

Black Friday: Business Impacts and Insights
Nov 05, 2024
Title
Black Friday: Business Impacts and Insights
Excerpt

It’s November and if you’re planning on buying anything this month, you’re going to see the words “Black […]

Technical Skills vs Human Skills…
Nov 01, 2024
Title
Technical Skills vs Human Skills…
Excerpt

So, what do you think is more important in today’s business environment – technical or human skills? Whilst […]