January 7, 2020 | Investopaper
British company Rolls-Royce, which is one of the luxury carmakers of the country has reported a 25 percent surge in its annual sales in 2019. The main reason behind the growth in sales was the solid demand for its first-ever SUV, Cullinan. Cullinan was launched in 2018.
The company made the record sales of 5,152 cars in 2019 up from 4,107 units in the previous year.
“Worldwide demand last year for our Cullinan SUV has driven this success and is expected to stabilize in 2020,” Chief Executive Officer Torsten Mueller-Oetvoes said in a statement.
Out of the total Rolls-Royce sales, North America contributed the one-third part which was followed by China and Europe. This surge can serve as a respite to the carmakers as the global automobile industry is struggling due to the economic slowdown and other challenges. This is evident from the decline in the sales of other automakers like Volkswagen and Ford.