Rolls-Royce Announces Phantom-Based Convertible Model

Phantom Luxury Sedan Sales are Below Target

Sales of the Phantom luxury sedan haven't been stellar this year, with Rolls-Royce recently stating in a Financial Times

Only selling 556 cars in its first 10 months of the year, Rolls-Royce will miss its 2004 sales target by up to 25 percent. (Photo: Rolls-Royce Motor Cars)

report that due to only selling 556 cars in its first 10 months of the year, it will miss its 2004 sales target by up to 25 percent. This will mean sales of the $470,000 limousine will only reach between 750 and 800 units by year's end, much less than the target of 1,000 initially set.

"Targets are set as objectives and of course they are often set high to encourage people to aim high," the daily newspaper quoted Graham Biggs, Rolls-Royce's head of corporate communications, as saying.

To complicate matters, the automaker's CEO Karl-Heinz Kalbfell recently left for greener pastures at Alfa Romeo, starting next

The lack of sales means that Rolls-Royce will probably be short up to $118 million CAD ($99 million USD) in revenues. (Photo: Rolls-Royce Motor Cars)

year, after less than six months on the job. Kalbfell replaced Tony Gott, a longer-term Rolls-Royce CEO.

How will the lower Phantom sales affect the luxury marque's bottom line? It is possible the company will be short up to $118 million CAD ($99 million USD) in revenues, the paper stated.

But slow Phantom sales are not necessarily the direct result of the car in question or those working at the BMW division. Sales of DaimlerChrysler's Maybach rival have been slow as well, which may point to sluggish sales activity in the ultra-premium market.