Wealthy millennials drive Rolls-Royce sales in ‘hot market’ Canada
New coupe, convertible, and edgier reinterpretations of classic marques has made brand-new favourite among nation’s youthful, globalised millionaires
When Rolls-Royce Motor Cars unveiled its first-ever SUV in the Americas last month, it chose Vancouver, in Canada.
On day one, it sold six, which start at C$399,000 (US$308,000) each – not bad for a bespoke brand that delivered just 3,362 cars worldwide last year.
When it comes to supercars, Canada – somewhat oddly – punches above its weight.
Canada accounts for roughly 10 per cent of Rolls-Royce’s sales in the Americas, although the country’s rich represent only 6 per cent of the hemisphere’s high-net-worth population.
One of Rolls-Royce’s top-performing dealerships globally is in Vancouver, a city of 2.4 million people. One of every 10 vehicles sold last year in Canada was a luxury car, according to DesRosiers Automotive Consultants.
Rolls-Royce says Canada is only just getting started – thanks to a growing appetite for luxury driven by super-rich immigrants, mums, and millennials.
“Canada is quite a massively developing market,” said Torsten Muller-Otvos, CEO of the BMW-owned, at Rolls-Royce’s gleaming new showroom in Vancouver.
The success of Rolls-Royce Motor Cars over the last couple of years is on the back of younger customers worldwide
“I would say that it started two, three years ago when we saw this market going from one record to the next.”