This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-21615082
The article has changed 6 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| 'Most powerful' Rolls-Royce to be unveiled | 'Most powerful' Rolls-Royce to be unveiled |
| (about 4 hours later) | |
| By Jorn Madslien Business reporter, BBC News, Geneva motor show | By Jorn Madslien Business reporter, BBC News, Geneva motor show |
| Rolls-Royce Motor Cars is officially unveiling its fastest and most powerful model yet at the Geneva motor show. | Rolls-Royce Motor Cars is officially unveiling its fastest and most powerful model yet at the Geneva motor show. |
| The 624 horse power Wraith will travel from 0-60mph (0-100km/h) in 4.4 seconds and cost more than £200,000 ($300,000) when it goes on sale later this year. | The 624 horse power Wraith will travel from 0-60mph (0-100km/h) in 4.4 seconds and cost more than £200,000 ($300,000) when it goes on sale later this year. |
| The car was designed to change people's perception of the luxury marque, chief executive Torsten Muller-Otvos told BBC News. | The car was designed to change people's perception of the luxury marque, chief executive Torsten Muller-Otvos told BBC News. |
| "I'm confident it will attract a lot of new customers to the brand," he said. | "I'm confident it will attract a lot of new customers to the brand," he said. |
| 'Not a competitor' | 'Not a competitor' |
| During a sneak peek behind the large, black curtains that covered the car ahead of its official unveiling on Tuesday, the Wraith bore a passing resemblance to Bentley's Continental GT grand touring model, but Mr Muller-Otvos was eager to stress that he did not see it as a rival. | During a sneak peek behind the large, black curtains that covered the car ahead of its official unveiling on Tuesday, the Wraith bore a passing resemblance to Bentley's Continental GT grand touring model, but Mr Muller-Otvos was eager to stress that he did not see it as a rival. |
| "I wouldn't see the Continental as a competitor, definitely not," he said. "We are operating in a different price segment, well beyond £200,000. | "I wouldn't see the Continental as a competitor, definitely not," he said. "We are operating in a different price segment, well beyond £200,000. |
| "But I wouldn't be surprised if some existing Bentley customers would buy the Wraith - many people in this segment don't see the Continental as exclusive anymore." | "But I wouldn't be surprised if some existing Bentley customers would buy the Wraith - many people in this segment don't see the Continental as exclusive anymore." |
| 'Friendly rivals' | 'Friendly rivals' |
| Bentley's board member in charge of sales and marketing, Stuart Rose, acknowledged that the two marques are not direct rivals, as its best-selling models start at about £130,000. | Bentley's board member in charge of sales and marketing, Stuart Rose, acknowledged that the two marques are not direct rivals, as its best-selling models start at about £130,000. |
| "It's partly true, as we're not in the same price categories, but many of both our and their customers have six or seven cars, so many of them will have both a Rolls and a Bentley," he told BBC News. | "It's partly true, as we're not in the same price categories, but many of both our and their customers have six or seven cars, so many of them will have both a Rolls and a Bentley," he told BBC News. |
| "But I'm startled to hear they don't think Bentley is luxurious," he said while showing off the carmaker's latest model, the redesigned Flying Spur, ahead of Tuesday's official unveiling. | |
| Indeed, if Wraith is encroaching on Continental GT territory, made up of ultra-luxurious yet sporty cars, you could say the new Flying Spur is offering a decent alternative to Rolls-Royce's Ghost. | Indeed, if Wraith is encroaching on Continental GT territory, made up of ultra-luxurious yet sporty cars, you could say the new Flying Spur is offering a decent alternative to Rolls-Royce's Ghost. |
| Unlike the previous Flying Spur, which was essentially a stretched Continental GT, this car has been created from scratch and the Continental link has been severed. | Unlike the previous Flying Spur, which was essentially a stretched Continental GT, this car has been created from scratch and the Continental link has been severed. |
| "But we don't overlap too much," said Mr Rose. "We're rivals on a friendly basis. They're dominant in their segment [of the ultra-luxury car market], we're dominant in ours - which, as it happens, is much larger." Consequently, Bentley sold 8,510 cars last year, while Rolls-Royce sold 3,575. | "But we don't overlap too much," said Mr Rose. "We're rivals on a friendly basis. They're dominant in their segment [of the ultra-luxury car market], we're dominant in ours - which, as it happens, is much larger." Consequently, Bentley sold 8,510 cars last year, while Rolls-Royce sold 3,575. |
| Bentley's sales have also been growing more quickly than Rolls-Royce's in recent months. | Bentley's sales have also been growing more quickly than Rolls-Royce's in recent months. |
| Last year, Bentley sales rose 22%, following a 37% rise in 2011 and an 11% rise in 2010. | Last year, Bentley sales rose 22%, following a 37% rise in 2011 and an 11% rise in 2010. |
| By comparison, Rolls-Royce, which is owned by BMW Groups, saw sales rise about 1%, a dramatically slower growth rate than the 31% seen in 2011 and the 150% seen in 2010. | By comparison, Rolls-Royce, which is owned by BMW Groups, saw sales rise about 1%, a dramatically slower growth rate than the 31% seen in 2011 and the 150% seen in 2010. |
| Mr Muller-Otvos nevertheless said he was optimistic about the future as the segment for "ultra-luxurious" cars is growing in line with the rising number of "ultra-high net worth individuals". | Mr Muller-Otvos nevertheless said he was optimistic about the future as the segment for "ultra-luxurious" cars is growing in line with the rising number of "ultra-high net worth individuals". |
| Brand builder | Brand builder |
| Mr Muller-Otvos said the V12-powered Wraith should help change attitudes towards Rolls-Royce, which currently sells the somewhat less agile and powerful Phantom and Ghost models. | Mr Muller-Otvos said the V12-powered Wraith should help change attitudes towards Rolls-Royce, which currently sells the somewhat less agile and powerful Phantom and Ghost models. |
| "In general, when we make a new model, our intention is not just pure volume. We also want to add new facets to the brand," he said. | "In general, when we make a new model, our intention is not just pure volume. We also want to add new facets to the brand," he said. |
| "I wouldn't be surprised if even Ferrari drivers, tired of cars that are not comfortable enough for everyday driving, would switch," he said. | "I wouldn't be surprised if even Ferrari drivers, tired of cars that are not comfortable enough for everyday driving, would switch," he said. |
| "But the Wraith is more of a gentleman's 'gran turismo'. Sporty is probably not the right expression for a Rolls-Royce." | "But the Wraith is more of a gentleman's 'gran turismo'. Sporty is probably not the right expression for a Rolls-Royce." |
| You can follow Jorn Madslien's coverage from the Geneva motor show on Twitter @jornmadslien. | You can follow Jorn Madslien's coverage from the Geneva motor show on Twitter @jornmadslien. |