Rolls-Royce sees its Best Quarter in 116 Years

This record-setting quarter from the company hints at the willingness of the world's rich people to spend their money, who added trillions of dollars to their wealth ever since the pandemic started.
Source: Rolls-Royce Motor Cars

BMW-owned luxury car company Rolls-Royce recorded the best quarter ever in its 116-year history. The company, snapping up different models including the $330 million SUV, set an excellent record of sales in its first quarter of 2021, delivering a whopping 1,380 cars.

Records say that these sales are 62 percent more than the sales in 2020’s Q1, which had seen impacts from the pandemic on manufacturing and sales. This record for the company surpassed the company’s former high in 2019.

A statement from Rolls-Royce read that the increased demand was especially for the three-ton SUV Cullinan starting at nearly $335 million and selling up to $400 million including customizations. The Ghost model priced from $332 million with an LED-lit interior resembling a starry sky also saw significant sales along with the Cullinan.

The company’s statement also read that these demands will remain stronger as their order books are very well extending even in the second quarter for the year.

This record-setting quarter from the company hints at the willingness of the world’s rich people to spend their money, who added trillions of dollars to their wealth ever since the pandemic started. Lamborghini, Bentley, and other top-end car manufacturing companies also saw their sales rising strongly.

Torsten Müller-Ötvös, the CEO of the company said, “We’ve responded to recent challenges with our customary boldness, imagination, and inventiveness, underpinned by meticulous planning and a relentless focus on our customers’ needs and requirements.”

The company reached another milestone by starting the making of the aero-engine, the largest in the world. This engine, according to Rolls-Royce will be the basis and potential for a new family of the company’s UltraFan engines and will deliver both widebody and narrow-body aircraft with a 25% fuel efficiency.

Rolls Royce also announced that it will supply 12 mtu Kinetic Power packs to the Saudi Arabian King Abdullah University. The statement came on 7th April. The CEO of Rolls Royce power systems, Andreas Schell says that the company is delighted to be chosen by Saudi Arabia as partners.

Bernard Hanssens, Dubai subsidiary’s managing director said, “We’ve been in discussions with the customer since 2016. We were able to fulfill all of the customer’s wishes and requirements and thus put together a complete solution, that includes a substantial local content.” 

These developments came in after the company announced the successor to its CFO in February. Panos Kakoullis took over from Stephen Daintith who is leaving the company soon.

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