• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 hours Reality catching up with EV forecasts
  • 11 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 hour Famous author Michael Crichton talks about the "Climate Change Religion" aka Feudalism 2.0
  • 5 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 10 days A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
ZeroHedge

ZeroHedge

The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Rolls Royce Smashes Sales Record In 2022 As Ultra-Rich Splurged On Luxury

  • Rolls Royce Motor Cars recorded its highest-ever annual sales in 2022.
  • 2022 was a terrible year for billionaires, many of which lost nearly $2 trillion combined.
  • Despite the turmoil in many asset classes, the ultra-wealthy were increasingly buying luxury cars.

2022 was a terrible year for billionaires, many of which lost nearly $2 trillion combined. Despite stock, crypto, and bond market turmoil, as well as soaring interest rates, elevated inflation, and increased risk of economic uncertainty, the ultra-wealthy were increasingly purchasing luxury vehicles.

Rolls-Royce Motor Cars published a press release stating it recorded its "highest-ever annual sales" in 2022, delivering 6,021 motor cars, up 8% versus 2021. 

"This is the first time in the company's 118-year history that its sales have exceeded 6,000 in a single 12-month period," the British luxury carmaker said. 

ADVERTISEMENT

Rolls-Royce's sales were led by the US, China, and European markets. The automaker said orders stretched well into this year and noted the high demand for its vehicles, many of which fetch $500k, which led to an expansion of the company's Goodwood plant in the UK. 

"2022 has been a momentous year for Rolls-Royce Motor Cars," CEO Torsten Müller-Ötvös wrote in a statement. 

"Our order book stretches far into 2023 for all models," Müller-Ötvös continued. "We haven't seen any slowdown in orders."

ADVERTISEMENT

Müller-Ötvös added the brand's bespoke, customized approach to "ever more imaginative and technically demanding – a challenge we enthusiastically embrace." 

And it's not just Rolls-Royce. Bentley and Lamborghini had record sales last year. 

Lamborghini delivered 9,233 vehicles in 2022, a 10% increase from the year before. Bentley delivered 15,174 vehicles, a 4% increase over 2021, which was a record year. 

The growth of luxury vehicle sales reflects high net wealth folks are doing just fine despite a vast amount of wealth vaporization due to central banks tightening monetary policy. As for everyone else, many folks can barely afford their $1,000 car payment, as an auto bust seems almost inevitable

By Zerohedge.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage


ADVERTISEMENT


ADVERTISEMENT



Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News