Proactive Investors - Rolls-Royce (LON:RR) Motor Cars recorded its highest-ever sales in 2022, thanks to strong global demand for luxury vehicles.
A total of 6,021 deliveries in 2022 marked the BMW AG (ETR:BMWG) subsidiary’s highest ever, 8% higher than the year earlier.
This was the result of growth in almost all regions around the world, the company said in a report, “particularly the Middle East, Asia-Pacific, the USA and Europe”.
Revenue increased by 12% to £887.85 million during the year to December, aiding a 26% jump in profit to £97.03 million.
Margins climbed from 11% to 14%, as the value of bespoke commissions hit their highest ever.
“As befits a true luxury house, the scarcity and rarity of its products are fundamental to building and maintaining Rolls-Royce Motor Cars’ exceptionally strong brand,” the company said.
Rolls-Royce added that clients’ requests for bespoke features had become “increasingly imaginative and technically demanding”, prompting continued investment into capabilities to allow customer-tailored manufacturing.
The group pointed to continued recovery from the pandemic, alongside “resilience in the international luxury market”, in helping fuel the strong results.
Rival luxury firms, including Aston Martin and Ferrari (NYSE:RACE), have also been tipped to have strong years in 2023 given the sector’s ongoing sturdiness in spite of wider economic issues.
Unified by their offerings of deluxe and rare cars, the trio are among companies to have enjoyed success on the back of sales of scarce models.