Philippine Daily Inquirer
12:55 am | Friday, October 11th, 2013
Rolls-Royce Motor Cars considers the Philippines to be an “important” and “substantial part” of its Asian strategy and volume development.
Torsten Müller-Ötvös, chief executive officer of Rolls-Royce Motors Cars, noted that there is “sufficient market potential around here to justify the investments” made by the company and its dealer partner.
The company is also “highly confident” that this segment in the automotive industry “will develop nicely over the years to come,” he added.
“There are very few countries in the world that can claim a 7.5-percent growth rate, and that’s extraordinary. We are watching closely the segment of ultra-high net worth individuals. I’ve met already … 15 captains of industry in Manila, and I was really impressed listening to them and their expectations. All in all, it was an excellent decision to enter the Philippines,” Müller-Ötvös said in a briefing on Thursday.
According to the Rolls-Royce executive, the company agrees with projections that the Philippines will see an increase in the number of ultra-high net worth individuals in the coming years. This belief was further strengthened when he met with Manila’s captains of growth and industries over dinner. Müller-Ötvös regarded them as the main pillars of growth in the country, and drivers of wealth for the whole economy.
The dinner last Wednesday night was held in line with the inauguration of an “interim” showroom at the Bonifacio Global City.
“The arrival of Rolls-Royce in the Philippines signifies our belief in this country’s economy and demonstrates the desire from our discerning customers in this region for the ultimate in super luxury. Rolls-Royce Motor Cars has been well received since the dealership appointment in June. And we are pleased to display in the new facility the first Phantom Series II extended wheelbase in the country,” Müller-Ötvös said.
He explained that the company had to open a temporary facility to cater to the demand from local customers. The showroom is expected to be completed next year.
According to Müller-Ötvös, the reception has been “fantastic,” and first reactions have been positive. He declined however to cite the number of reservations they have received nor their sales targets, noting only that those who came to the inauguration of the showroom on Wednesday night were “highly interested.”
On a global scale, Asia is already a “very important” market for Rolls Royce Motor Cars, as it accounts for about 50 percent of the company’s vehicle volume allocation. This is why the company has been aggressive in its efforts to expand in this part of the world.
Rolls Royce has appointed local firm British Bespoke Automobiles as its official importer-dealer for Manila. British Bespoke will be bringing in Rolls-Royce’s Phantom, Ghost and Wraith motor cars to the country.
Starting price for the Ghost alone has been pegged at P25.9 million, inclusive of taxes.
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Tags: economy , market strategy , Rolls-Royce Asia , Rolls-Royce Motors Asia , Torsten Müller-Ötvös
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