Less Ads, More Data, More Tools Register for FREE

Rolls-Royce says demand for luxury cars is recovering

Tue, 01st Sep 2020 17:20

LONDON, Sept 1 (Reuters) - The chief executive of
Rolls-Royce said demand for his company's luxury cars is
rebounding, helped by sales in Asia, and he is optimistic about
the outlook for next year after the coronavirus pandemic hit
consumer confidence and closed dealerships.

Torsten Muller-Otvos said the demand meant Rolls-Royce
Holdings Plc was the first car company to resume car
production in the United Kingdom on May 4.

"We see a very fruitful business now coming back from Asia,
also Europe is coming back on track, the Americas just delivered
an excellent July result and August result," the boss of the
BMW-owned Rolls-Royce Motor Cars told Reuters.

"I am quite optimistic looking into 2021, particularly on
the back of a very strong order bank we have already on our
books."

Muller-Otvos said his company has no plans to move
production out of the United Kingdom because of Brexit.

"We are committed to Britain. I would even call us being
part of the British industrial crown jewels," he said. "For that
reason, Rolls-Royce belongs to Britain."

(Reporting by Gerhard Mey; Editing by Lisa Shumaker)

Related Shares

More News
10 Apr 2024 09:06

Ex-Rolls-Royce CEO to chair under-fire UK air traffic controller NATS

(Alliance News) - UK air traffic controller National Air Traffic Services on Wednesday said it has hired former Rolls-Royce Holdings PLC CEO Warren Ea...

9 Apr 2024 17:13

FTSE 100 ends down as defence stocks offset commodity gains

Easter food spending lifts UK retail sales in March *

25 Mar 2024 05:51

UK government to unveil GBP200 million nuclear investment

(Alliance News) - Prime Minister Rishi Sunak will on Monday announce GBP200 million of public investment to boost the UK's nuclear deterrent programme...

22 Mar 2024 08:59

LONDON BROKER RATINGS: RBC cuts St James's Place; HSBC cuts Ascential

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

21 Mar 2024 09:27

LONDON BROKER RATINGS: UBS cuts Entain; RBC raises IAG

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.