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.

On your bike...

If you drive to work, one of the nice things is to have a parking place. There’s nothing worse than being on time for work[..]

Click to buy a Tesla...

Most of you have probably bought something on the internet but how many of you have bought a car on the internet? My guess is[..]

Nicely said Mr Musk

We’ve all been there haven’t we? Long boring meetings that don’t seem to be going anywhere. Maybe you’ve tried to give the impression of being[..]
Cashless or cash?
Over 1 billion consumers are forecast to use cashless payment methods in 2020. Contactless cards and smartphone payments can make payments very easy for an[..]
An unexpected ending...
A lot of you may have been on business trips but I bet your trip wasn't as exciting (and tragic) as this gentlemen's trip was.[..]
Would you send a photo?
Picture the scene. You’re one of the largest supermarket chains in the Netherlands employing more than 100,000 people. You’re planning on introducing a new staff[..]
Ericsson fined $1 billion for bribery.
The Swedish telecommunications group Telefonaktiebolaget LM Ericsson (or Ericsson as most people refer to it as and how my spell checker prefers) is an incredibly[..]
Exams for sale....
One of the five fundamental ethical principles is Integrity. Being straightforward and honest is a vital characteristic of being a professional accountant. Most people who[..]