8:24 am, July 5, 2023
Rolls-Royce buyers are not immune to the cost-of-living crisis – but the manufacturer has seen no slowdown in orders yet.
Speaking at the launch of the new electric Rolls-Royce Spectre, chief executive Torsten Müller-Ötvös said rising inflation and worries around the economy had not affected orders for the new car – but there was still a nervousness among his clients.
In an interview, he also explained that Rolls-Royce buyers preferred electric cars as it meant they could avoid ‘unsafe’ petrol stations and that range anxiety wasn’t an issue for the brand as owners would simply use another of their cars.
The new Spectre is not expected to leave the Goodwood-based factory for less than £450,000 on average, with the car’s ‘immaterial’ starting price pegged at £330,000.
He said: ‘Knowing that the majority of our clients are business owners, they obviously are sensitive when it comes to economic downturns, potential recessions and so on.
‘We are not immune to that, because buying or acquiring a Rolls-Royce is very much about how they feel.
‘If the sentiment isn’t right, it could be postponed.
‘We haven’t seen a slowdown in order take, though. I mean, it’s even the contrary. In particular, orders are skyrocketing up to levels I haven’t seen before, but I hear and understand from our client base that there is nervousness about a recession and what happens with the economy here in the UK.’
First drives of the new Spectre took place for the press at the weekend in California. The car has a multitude of options including twinkling starlight doors that extend the car’s famous sparkling roof lining down to the doors.
It has a 329-mile range from its 102kW battery, can hit 60mph in 4.4 seconds and a top speed of 155mph.
‘Unsafe’
The Rolls-Royce CEO said his buyers actually preferred the idea of electric propulsion because it meant they didn’t have to go to public petrol stations.
He explained that during customer research about the new car, clients said the idea of being able to avoid ‘unsafe’ petrol stations and charge at home or work instead was a bonus.
Müller-Ötvös said: ‘Owners don’t need to detour to any petrol station and that is seen as far safer than originally going to a petrol station.
‘That was quite an interesting learning for us as we wouldn’t have thought about it. Buyers clearly see it as an advantage.’
The Rolls-Royce Spectre can be fully charged with a 50kW fast charger in 95 minutes, or from zero to 100 per cent in 5 hours and 30 minutes using a 22kW charger.
While most home chargers are 7kW, Rolls-Royce says it expects owners to have access to faster ones at home. It can, of course, help install them for buyers, too.
The Rolls-Royce CEO (pictured above) said range anxiety wasn’t an issue for Spectre buyers either as they have access to, on average, seven other cars.
Müller-Ötvös explained that when they were expected to travel further than the car’s range, they would simply use another one of their cars.
‘We are not a car business. What we are doing is a luxury goods business,’ he told Car Dealer.
‘Nobody needs us to get them from A to B, they have plenty of cars in the garage. On average, they have seven others.
‘For that reason, just like we have wardrobes, they have cars for all occasions. For that reason, you won’t see this car going long distance, it will be for going into cities, for commuting.’
The Rolls-Royce boss explained his dealers were primed to sell the new electric car and were ‘well educated’ about the model.
A large number of its dealers are due to head to California after the press launch to experience the new model on the same roads.
Müller-Ötvös said: ‘Spectre is quite a different kind of model and we have a highly selected, eclectic group of partners all over the world – in total, 130.
‘They are extremely important as they are mainly the contact to our clients. They are well educated about Spectre, they understand the technology behind it and they understand also the specifics about charging, and also what kind of services we are offering when it comes to installing wall boxes or charging points at home.’
Müller-Ötvös explained that he didn’t think the government was doing enough to support public charging infrastructure in the UK and more needed to be done – despite the fact his clients will unlikely ever use a public point.
He added: ‘In the context of the very ambitious legal requirements from 2030 onwards, I would suggest clearly ramping up public projects. It would be quite a pity to see, after all the investments the automotive industry is now doing, that the infrastructure can’t cope.’
Spectre is available to order this summer with first deliveries in the autumn.
Earlier this week, Müller-Ötvös told Car Dealer that customers caught selling their vehicles on for a profit to used car dealers would be ‘blacklisted’ from buying a car from the firm.
What is Spectre like to drive?
Back in 1900, Rolls-Royce co-founder Charles Rolls predicted in a magazine article that electric cars would be ‘very useful’ when ‘charging stations can be arranged’. Fast forward 123 years and the brand is finally launching Spectre, its first fully electric car.
Car Dealer was flown to the Napa Valley wine country north of San Francisco to try the new car and can report that, unsurprisingly, it’s very good indeed.
This is a car that’s as good to drive as it is to be driven in – and before you ask, yes, most buyers drive themselves around.
Rolls-Royce was focused on three important character traits when it engineered Spectre: Silence, ‘waftability’ and a magic carpet ride. The team were convinced this is what owners want – that and the ability to accelerate and brake ‘without spilling a drop of champagne in the back’.
While we didn’t get a chance to try the champagne test, we did get a good opportunity to drive it on the road and it’s nearly impossible to tell the difference between this and a V12.
Both are silent and power delivery is remarkably similar. Power is delivered smoothly with no sudden explosive bursts as you’d expect in an EV. It’s linear and relaxing.
As for the wafting and magic carpet ride – these terms describe Spectre on the road perfectly. It’s sumptuous and cosseting on all road surfaces. Our only slight complaint would be the steering – at times it lacked a tiny little bit of feel, but it hardly blots the copybook.
You can read the full road test of the new Rolls-Royce Spectre in the next digital issue of Car Dealer Magazine. The latest issue is available here.
