Gulf's love affair with Rolls-Royce at full throttle

The rich rolled out the cash last year, pushing Rolls-Royce cars to their highest sales figures since BMW bought the company in 2003.

Fuelling demand in the luxury brand was the Gulf's love for the status symbol, with sales in the region doubling compared with 2009.

This helped Rolls-Royce to sell a record 2,711 models globally last year, up 171 per cent from 2009, the company announced yesterday.

"I'm very optimistic that we'll see sustainable growth in the next years given that the economy is getting stronger and stronger," said Torsten Mueller-Oetvoes, the company's chief executive. "People are coming back to the showrooms. They're prepared to spend money again and that should help us. Our dealers, especially in the Middle East, are investing in new showrooms."

Sales in the Middle East region doubled, with the UAE the biggest growth market, said James Crichton, the company's regional director for the Middle East.

Sales in Abu Dhabi surged 176 per cent, while Dubai posted a 50 per cent rise last year compared with 2009. "Consumer confidence in Abu Dhabi remains stronger than it does in Dubai," Mr Crichton said. "Some of the impact of the property market are still having effects in Dubai … But the good news is every single market [in the region] has grown for the year."

Growth in many markets was robust - 400 per cent in India, 600 per cent in China and 200 per cent in the US, said Mr Mueller-Oetvoes. The Middle East is Rolls-Royce's third-largest regional market. By country, the UAE was its fourth-largest market, behind the US, China and the UK.

Mr Crichton would not disclose exactly how many cars were sold in the UAE or the Middle East but said the Abu Dhabi dealership ranked among the top five worldwide.

One factor contributing to Rolls-Royce sales growth last year was the introduction of the Ghost model. The relatively cheaper car, priced at about Dh1.1m (US$300,000), compared with the Phantom at Dh1.6m, opened up Rolls-Royce to a broader segment of younger drivers.

"The Phantom is our tuxedo, which is a car used for special occasions. Whereas we are positioned with the Ghost as a business suit, to be used on a more regular basis," Mr Crichton said.

But consumers in the region were among the keenest to have customised cars, said Mr Mueller-Oetvoes. Such adaptations could more than double the cost of the car.

"More or less 100 per cent in the Middle East region were bespoke," he said.

aligaya@thenational.ae

Greatest of All Time

Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan

Director: Venkat Prabhu

Rating: 2/5

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

Top 10 most polluted cities

Bhiwadi, India
Ghaziabad, India
Hotan, China
Delhi, India
Jaunpur, India
Faisalabad, Pakistan
Noida, India
Bahawalpur, Pakistan
Peshawar, Pakistan
Bagpat, India

COMPANY PROFILE

Name: Almnssa

Started: August 2020

Founder: Areej Selmi

Based: Gaza

Sectors: Internet, e-commerce

Investments: Grants/private funding

On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality

The National Editorial: Is there much to celebrate on International Women's Day 2021?

Brief scores:

Pakistan (1st innings) 181: Babar 71; Olivier 6-37

South Africa (1st innings) 223: Bavuma 53; Amir 4-62

Pakistan (2nd innings) 190: Masood 65, Imam 57; Olivier 5-59

COMPANY%20PROFILE

%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A

Business Insights

As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.

Ticket prices

Golden circle - Dh995
Floor Standing - Dh495
Lower Bowl Platinum - Dh95
Lower Bowl premium - Dh795
Lower Bowl Plus - Dh695
Lower Bowl Standard- Dh595
Upper Bowl Premium - Dh395
Upper Bowl standard - Dh295

Diriyah%20project%20at%20a%20glance

%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A

RESULTS

4pm: Al Bastakiya Listed US$250,000 (Dirt) 1,900m
Winner: Yulong Warrior, Richard Mullen (jockey), Satish Seemar (trainer)

4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m
Winner: Jordan Sport, Adrie de Vries, Fawzi Nass

5.10pm: Nad Al Sheba Conditions $200,000 (Turf) 1,200m
Winner: Jungle Cat, William Buick, Charlie Appleby

5.45pm: Burj Nahaar Group 3 $200,000 (D) 1,600m
Winner: Kimbear, Patrick Dobbs, Doug Watson

6.20pm: Jebel Hatta Group 1 $300,000 (T) 1,800m
Winner: Blair House, James Doyle, Charlie Appleby

6.55pm: Al Maktoum Challenge Round-3 Group 1 $400,000 (D) 2,000m
Winner: North America, Richard Mullen, Satish Seemar

7.30pm: Dubai City of Gold Group 2 $250,000 (T) 2,410m
Winner: Hawkbill, William Buick, Charlie Appleby.

COMPANY%20PROFILE

%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A