Rolls-Royce Sales Hit by Chinese Market Crisis
According to latest figures, the sales of Rolls-Royce luxury cars have been affected by a fall in demand in China.
Rolls-Royce CEO Torsten Muller-Otvos said the turnaround in the market had been unexpectedly fast.
“We have been surprised by the speed of development in the Chinese market in a completely different direction,” he said.
Chinese buyers have been affected by the slump in the stock market, slower growth and a corruption clamp-down.
However, Torsten Muller-Otvos played down fears that recent events in China would last long, forecasting that sales there would recover in the next two years.
“China has never been our number one market. Our number one market is the United States and due to the fact we are properly balanced we can cope with some of the downturn in China,” he explained.