Middle East Ultra-Luxury Car Market achieves double digit growth in 2011
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Tue January 17, 2012 11:29 am

UAE. The Middle East Ultra Luxury Car market is well on its way to a healthy recovery, this is what the latest statistics suggest. Ultra Luxury cars over US$250,000 registered a double digit year on year growth rate in 2011.

Rolls-Royce Motors Cars registered a 23% year on year growth during 2011 across the Middle East, Three regional dealers rank in the top 10 global dealer rating based on sales volume. These figures coincide with the company’s all time best global 2011 sales results of 3538 cars, a 31% year on year growth over 2010.

This strong growth can be attributed to many developments across the marque. Largely, 2011 saw a continued success for the dynamic Ghost model, supplemented by the launch of the Ghost Extended Wheelbase derivative towards the third quarter, which was very well received from customers in the Middle East. Moreover, the introduction of Bespoke on the Ghost range to meet customer demands has spurred the expansion of the production facility in the Goodwood factory with a particular increase in capacity for the Bespoke workshops.

Phantom achieved equally significant sales, recording an 18 per cent growth across the region with respect to 2010; its timeless design proving highly desirable to clients. The Phantom range also makes up the majority of the Bespoke models delivered in the region, which confirms the Phantom’s position as the Pinnacle of automotive luxury.

“We had an exceptional year in 2011” said James Crichton, Regional Director, Rolls-Royce Motor Cars Middle East and Africa. “Our business in the region is in excellent shape. Commemorating that success is our all new dedicated regional office situated in Dubai’s landmark Emirates Towers. This office allows us to dedicate substantial resource for the region, and helps us remain close to our partners and their customers. Additionally, our partners have equally and significantly invested in new or completely refurbished showrooms, which resonates their faith in the brand and commitment to the future of Rolls-Royce Motor Cars.”

2011 also marked another record for the Rolls-Royce Bespoke personalisation programme, a service with Rolls-Royce’s legendary hand-craftsmanship and attention to detail at its core. Every Phantom family model sold in the Middle East carried some Bespoke elements; most notably the Spirit of Ecstasy Centennial Collection commissioned to honour one hundred years of the flying lady.

In June 2011, Rolls-Royce Motor Cars marked the establishment of its dedicated regional office, located in Dubai’s landmark Emirates Towers, in order to better serve its regional growth. Previously, the region was served from Europe, however, the consistent growth of the brand in the region and the confidence this conveys, has driven the British marque to invest in a permanent outpost that is directly in contact back to the Home of Rolls-Royce in Goodwood.

Rolls-Royce Motor Cars has eight showrooms in the Middle East region: in Abu Dhabi, Dubai, Doha, Jeddah, Kuwait City, Manama, Muscat and Riyadh. Rolls-Royce Motor Cars offers six models: Ghost, Ghost Extended Wheelbase, Phantom, Phantom Extended Wheelbase, Phantom Drophead Coupé and Phantom Coupé.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: April 17, 2014
KUWAIT. According to a newly released report by Kuwait Finance House Research, the global sukuk market saw a modest volume of US$31.14 billion in new sukuk issuances in 1Q2014. This volume represents a drop of 9.82% compared to US$34.53 billion worth of issuances in 1Q13.
date:Posted: April 16, 2014
INTERNATIONAL. The WGC pointed out that the Chinese bank savings amount to US$7.5 trillion but only about US$300 billionn is allocated to gold, signifying the potential for gold demand to grow as Chinese wealth climbs.
date:Posted: April 16, 2014
UAE. "A similar drop to 2013 is unlikely. Those who wanted to get out of gold did, and the rest of 2014 will probably be a year of sideways trading."
dhgate