This article first appeared in The Edge Financial Daily on October 17, 2017
KUALA LUMPUR: Rolls-Royce Motor Cars Kuala Lumpur says demand for super-luxury automobiles will continue to be strong in Malaysia, with the domestic market having a penchant for “some of the most bespoke Rolls-Royce cars”.
This, according to its managing director Datuk Michael Ong Leng Chun, is despite Malaysia being much smaller a car market compared with its neighbours such as Thailand and Indonesia.
“[The tough economy] has been a challenge not just for Rolls-Royce but for every car manufacturer, yet the demand [for super-luxury cars] looks to be recession-proof. I mean, people are still buying very expensive pieces of jewellery,” Ong told The Edge Financial Daily.
“I believe there is a bright future for market here, bearing in mind the on-year increment in the number of high-net-worth individuals (HNWI) in the country,” added Ong, who quoted Knight Frank’s Wealth Report 2017, which tracks the growing super-rich population in 125 cities across 89 countries including Malaysia.
Based on the report, Malaysia saw the number of HNWIs — with net worth above US$30 million (RM126.6 million) — increase 3% year-on-year to 1,020 in 2016 against 990 in 2015, and is expected to grow 70% by 2026.
“[Malaysia] is still a very important market for us because we have very influential people located in both Peninsular and East Malaysia. Interestingly, some of the most bespoke cars we have made, customised with songket-based interior, for example, are for clients here,” Ong said.
Hal Serudin, regional corporate communications manager for Rolls-Royce Motor Cars Asia Pacific, said: “Malaysia has some of the most bespoke Rolls-Royce cars in the world. It’s a fact that we have local people who are connoisseurs of luxury.”
The duo said most of Rolls-Royce’s customers in Malaysia are entrepreneurs, with the youngest-ever customer registered to be 28 years old. Sales in Malaysia are dominated by the Ghost model.
Malaysia yesterday welcomed the 2018 Rolls-Royce Phantom VIII — Rolls-Royce’s most technologically advanced model to date — 14 years after its predecessor was first launched in 2003.
“If you want the best ultimate super luxury, the one thing to go for is the Phantom. Secondary to that would be a yacht, private jet, multimillion-dollar jewellery and watches, and so on,” Ong said.
Cutting-edge innovations include a new exclusive “Architecture of Luxury”, an all-aluminium frame designed to underpin every future Rolls-Royce, Satellite Aided transmission and driver assistance systems to produce a “peerless magic carpet ride”, as well as a “Gallery” — a glass-covered dashboard that can house a moving art piece depending on the owner’s liking.
Owners of each new Phantom can tailor their specifications by choosing from 44,000 exterior colours and request personalised designs from the company’s team of bespoke designers.
Apart from private viewing sessions, customers are also invited to hand-spec their very own Rolls-Royce — which already has a one-year waiting list, with another three months to build — at its factory in Goodwood, the UK.
“Almost every bit of this car can be fully customised. That level of personalisation is something you can’t get with other luxury brands, and it is very important for our clients,” said Ong.
Unlike its naturally aspired predecessor, the eighth-generation Phantom features an all-new 6.75-litre twin-turbocharged V12 engine, delivering 563hp of output and 900Nm of torque, charging the car from idle to 100kph in a claimed 5.4 seconds.
Ong expects the first Phantom VIII to roll out on the street in the second quarter of 2018. Pricing for the standard wheelbase Phantom starts from RM2.2 million (excluding taxes), while the extended wheelbase edition is priced at RM2.5 million onwards.