Record Sales for Rolls-Royce and Bentley as Customers in Their 30s and Electric Vehicle Buyers Line Up

[Asia Economy Reporter Yujin Cho] Amid the semiconductor supply shortage caused by the COVID-19 pandemic, luxury car brands such as Rolls-Royce, Bentley, and Porsche achieved record sales last year. It is analyzed that young entrepreneurs who significantly increased their assets through stock and cryptocurrency investments last year have been actively purchasing luxury cars, driving these results.

According to the Wall Street Journal (WSJ) on the 17th (local time), the British flagship brand Rolls-Royce sold 5,586 units last year, marking the highest annual sales ever. Sales increased by 49% compared to the previous year.

Torsten M?ller-?tv?s, CEO of Rolls-Royce, stated, "Last year, we delivered 5,586 vehicles in over 50 countries worldwide, recording the highest annual sales in history."

Bentley, another luxury car brand under the German Volkswagen Group, recorded sales of 14,659 units last year, a 31% increase from the previous year, marking an all-time high.

Porsche, also under Volkswagen as the parent company, saw sales rise 11% year-on-year to 301,915 units last year. Both brands showed steady growth rates in major global markets including the United States, Europe, and China.

On the other hand, Volkswagen headquarters, hit hard by the semiconductor shortage, saw sales drop 8.1% to 4.9 million units compared to the previous year. Volkswagen's market share in China, its largest market, also fell to 14.8%.

Italian supercar Lamborghini recorded sales of 6,902 units from January to September last year, a 23% increase compared to the same period the previous year.

German BMW recorded sales of 2.5 million units worldwide last year, an 8.4% increase.

BMW sold 336,644 units in the U.S. market last year, showing a 21% growth rate and being recognized as the top-selling luxury car brand for three consecutive years.

The contribution of customers in their 30s played a significant role in luxury cars achieving record sales last year.

WSJ analyzed that the average age of luxury car buyers has lowered to 43 years, with particularly strong sales driven by buyers in their 30s.

Martin Frits, President of Rolls-Royce USA, said, "Many Rolls-Royce buyers were young entrepreneurs who increased their assets through stock and cryptocurrency investments."

The paradigm shift to electric vehicles also served as a major driver for the increase in sales. Porsche's electric sports sedan Taycan recorded sales last year that surpassed its flagship model, the 911, and BMW's electric vehicle sales surged 8.4% last year.

According to consulting firms Wards Intelligence and LMC Automotive, global vehicle sales are expected to rebound 13% this year compared to the previous year, but still remain below pre-pandemic levels.