Rolls-Royce aims to raise China sales eightfold

Rolls-Royce Motor Cars plans to sell 800 cars in China next year, aiming to raise sales eightfold in two years in the world’s largest auto market, Bloomberg reported. Rolls-Royce, the ultra-luxury marque of Bayerische Motoren Werke (BMW), delivered nearly 500 cars in China – including Hong Kong – in the first 10 months of 2010, compared with about 100 for all of 2009. Sales of Rolls-Royce’s Phantom and Ghost sedans have seen a boost in China, where the number of millionaires has reached 875,000, 6.1% more than last year, according to the Hurun Research Institute. A Rolls-Royce Phantom starts at US$990,000 in China, where consumers pay higher taxes on imported luxury models. In the US, the Phantom starts at US$380,000. Rolls-Royce expects China to be its largest market, surpassing the US as early as next year.