Luxury manufacturers like Rolls Royce are eyeing women and youth to boost sales
Rolls Royce seems to be losing out in the ultra-luxury car market in India as the company managed to sell just 40 cars last year, which is down from 91 that they sold in 2011. The similar downward trend was also seen in the international market as well, where they were able to sell 4000 cars last year for the fifth straight year, which is a record (for the worse obviously).
The world renowned marque has always been one of the most admired and respected car brands all over the world, but the BMW-owned company desperately needs to rebuild its sales in India. For doing this, the company is looking to grow in double digits by targeting women and a younger age-group of car buyers.
Rolls Royce cars in India range from Rs. 3-6 crores depending upon different models and levels of customization. Therefore, only the super-rich people will be able to afford a Rolls. But with the rise in number of successful start-ups, a wider age-group of people can now afford luxury cars. One such entrepreneur is Paras Gupta, director of pre-school chain Mother’s Pride, who at the age of just 22 recently purchased a Rolls Royce Ghost Series 2 in New Delhi.
While talking about women, more and more women are entering the uber rich category all over the world. With the same class of people also driving on their own, this opens up a market for them to buy vehicles from various luxury car brands. According to the company, female interest in their vehicles has increased by two-fold.
The company did not share any sales figures and also said that they do not offer guidance as a policy. But Rolls Royce is not the only luxury car maker that experienced a bad 2014 due to the sluggish economy, other companies in the same league including Bentley, Lamborghini and Ferrari collectively posted a decline in sales of around 15 percent to 110-115 units for cars ranging between Rs. 2-6 crores in India.
To attract more women buyers to their brand, Rolls Royce will be tailoring their new Ghost and Wraith models especially for them. The Phantom Limelight model has also be specifically designed to appeal to women. They are even looking to hire more female employees at its sales outlets. Other companies are also seeming to follow the same trend and according to an internal study by Lamborghini, women tip the scales when it comes to choosing sports cars.