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Luxury carmakers look beyond China

Wednesday, September 16, 2015 - 01:46

British carmaker Rolls-Royce has admitted it will sell fewer cars in 2015 as luxury carmakers deal with a cooling China. But as Hayley Platt reports Lamborghini is confident it can buck the trend.

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It's the ultimate status symbol for many but Rolls Royce isn't immune to every slowdown. Despite launching Dawn - a convertible aimed at women and younger drivers - the British carmaker will sell fewer vehicles in 2015 than last year. Sales to July were down 10%. And growth in other markets - like the U.S. and the Middle East - will only offset some of the decline in China. Torsten Müller-Ötvös is CEO of the BMW-owned brand. (SOUNDBITE) (English) CEO, ROLLS ROYCE, TORSTEN MÜLLER-ÖTVÖS, SAYING: "I am surprised how quick that went down, we hadn't expected that so we see that of course, we feel it, it's not that we are immune against any recessionary tendencies in Rolls Royce." Not all luxury car makers are worried about China. Italy's Lamborghini - owned by Volkswagen - expects to hit record sales this year after strong demand for its latest model Huracan. It's also planning to launch an SUV in 2018 CEO is Stefan Winklemann (SOUNDBITE) (English) CEO, LAMBORGHINI, STEFAN WINKLEMAN, SAYING: "We think that the brand is ready for the next step, we want to double the volume by doing it will be always a super sports car amongst the SUV's." Low oil prices are currently helping car makers. And there's another positive factor too, says Randy Miller from Global Automotive Leader, (SOUNDBITE) (English) RANDY MILLER, GLOBAL AUTOMOTIVE LEADER, EY, SAYING: "I think the launch of these luxury vehicles along with performance vehicles, along with SUV's just again show's a great opportunity in the market, driven a bit by money still being easily had to finance the vehicles." Luxury doesn't come cheap though - you won't get a Rolls-Royce or a Lamborghini for less than 180,000 pounds.

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