Economic slowdown and the Eurozone crisis notwithstanding, luxury cars are on a roll. Take Rolls Royce: it sold more than 3,500 cars in 2011, creating a new sales record. Other premium car-makers have also witnessed a spike in demand.
BMW AG, the parent company of Rolls Royce, announced on January 9 that its sales in 2011 jumped by 31 per cent compared to 2010. These are the best sales figures for the 107-year-old car brand.
Performance in the Asia-Pacific market was the best, with an increase of 47 per cent in 2011. Sales in the Middle East rose by 23 per cent and in North America by 17 per cent. The U.S. and China continue to be the largest buyers of the car in 2011. The brand is also doing quite well in Germany and Russia.
To meet the increasing demand, the car-maker is planning to expand its production facility in Goodwood, West Sussex. Expansion work will start in February and be completed later this year.
"We had an outstanding year in 2011 and we should take a moment to reflect on this great British success story," Rolls-Royce head Torsten Müller-Öetvös said in a statement.
The auto company is also planning to enter new markets such as South America and expand its dealership network.
The premium car brand, which was bought by German auto-giant BMW in 1998, is also planning to come out with new models.
The £165,000 ($ 255, 024) priced Ghost Extended Wheelbase model sold more than any other model.
Rolls Royce rival Bentley also registered a 37 per cent increase selling 7,003 cars in 2011. Audi AG announced a 19 per cent rise in sales in 2011 due to good performance in China, Europe and the U.S.