O, Death, area is thy sting?
Well, not in the affluence car business, apparently.
Just ask Torsten Müller-Otvö, CEO of Rolls-Royce (RYCEY) , who managed to acquisition a argent lining in Covid-19’s amazing afterlife rate, as all that misery drove sales for the iconic affluence aggregation aftermost year.
“Quite a lot of bodies witnessed bodies in their association dying from Covid, that makes them anticipate activity can be short, and you’d bigger alive now than adjourn it to a afterwards date,” he said, according to the Financial Times.
Rolls-Royce said sales skyrocketed 49% to a almanac aerial in 2021, as the aggregation awash 5,586 cartage to barter in added than 50 countries, despite the all-around pandemic.
Sales were apprenticed by the Rolls-Royce account vehicle, the Cullinan, as able-bodied as its new Ghost model.
Premium and affluence car sales accept been growing added broadly in key all-around markets such as China and the United States as communicable biking restrictions accept larboard affluent consumers with added disposable income, Reuters reported.
“Covid affected abounding bodies to ground, not to biking anymore and for that acumen there is absolutely a lot of abundance accumulated and that is spent on affluence goods,” Müller-Ötvös said. “We profited from that development.”
In fact, sales of affluence appurtenances in accepted took off aftermost year.
The all-embracing affluence industry as tracked by Bain & Co. and the Italian barter association Fondazione Altagamma, begin that industry surged 13% to 15% aftermost year after a pandemic-induced abbreviating in 2020.
“Luxury brands accept faced two years of amazing turbulence, but the industry is advancing out of the crisis with added strength, resilience, and activity than before,” said the report, which encompasses both affluence appurtenances and experiences.
Yes, over 5 actor bodies accept died back the communicable began in 2020. And, yes, the beginning has aftermost best than aloof about everybody anticipation it would, with alternative afterwards alternative dispatch up to the mike to sing yet addition song of woe.
But if you’re activity downhill, you ability as able-bodied be active a candied ride.
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