Instead of Overseas Travel, 'Luxury Cars'... Record High Sales Last Year

[Asia Economy Reporter Yujin Cho] Luxury car brands with over a century of history, such as Rolls-Royce and Bentley, achieved record-high sales last year despite the semiconductor supply shortage caused by the COVID-19 pandemic.

This is attributed to a phenomenon of revenge spending on luxury goods, as expenditures on overseas travel and leisure decreased due to lockdown measures during the COVID-19 crisis.

According to major foreign media on the 10th (local time), Rolls-Royce, owned by Germany's BMW, saw its sales soar to an all-time high last year due to the global increase in demand for luxury cars.

Torsten M?ller-?tv?s, CEO of Rolls-Royce, stated, "Last year, we delivered 5,586 vehicles across more than 50 countries worldwide, marking the highest annual sales volume ever." The increase in sales was evenly observed across major global markets, including China and the United States.

CEO M?ller-?tv?s said, "With overseas travel blocked due to COVID-19, customers with increased disposable income have shifted their demand toward premium automobiles, leading to rapid sales growth across the global market."

He added, "Although there are concerns about semiconductor chip supply chains, all chip demand for production volume can be met. Due to backlog in orders until the third quarter of this year, current customers can expect vehicle delivery about a year later."

The situation is similar for Bentley, under Germany's Volkswagen Group. Bentley recorded sales of 14,659 units last year, a 31% increase compared to the previous year, driven by explosive demand growth.

Although Lamborghini has not yet reported its annual sales performance for last year, CEO Stephan Winkelmann recently stated in an interview with the media, "Last year will be the year with the highest sales ever."

CEO Winkelmann said, "Sales proceeded smoothly throughout the past year," and delivered 2,472 units in the largest market, the United States alone, marking an 11% increase compared to the previous year.