You Won’t Believe Who’s Buying Rolls-Royce Cars
Rolls-Royce's are becoming more and more popular with a certain demographic for reasons that you won't see coming.
This article is more than 2 years old
Rolls-Royce has always been a luxurious name for car owners. With its unique aesthetic and unparalleled presence, most assume that these vehicles are bought and owned by older generations. But today, the company is seeing an influx of younger buyers in their 20s and 30s.
For Rolls-Royce, the median age for its customers is 43 years old. For Lamborghini, Audi, and Lexus, their sales dwindle for consumers under 45. In the last months of 2021, Rolls-Royce beat out all of its competitors for customers between 20 and 45.
Even for Rolls-Royce’s parent company’s (BMW) expensive cars aren’t preferred by younger audiences. BMW owns the British brand Mini, of Mini Cooper fame, and those cars are mainly purchased by people age 50 and above. For general BMW models, its median customer age is 55. Rolls-Royce’s buyers are averaging ten years younger than consumers of BMW’s other luxury cars.
Experts are figuring out the cause of this age discrepancy, and it may have to do with who can purchase a Rolls-Royce in 2022. The distinction between the wealthy and the unbelievably wealthy has a prominent age gap, showing how the combination of age and net worth influences purchasing. Surveys conducted by the consulting firm Spectrem Group noticed that people who had $1 million to $25 million had an average age of 62. In comparison, those with $25 million or more averaged 48 years of age.
Since Rolls-Royce cars are undeniably expensive, it makes sense that the age demographic with a higher net worth is spending more on the illustrious brand. Rolls-Royce Americas CEO commented on this distinction, stating that its company caters more to entrepreneurs and rockstars than those who slowly accumulated wealth. Those from previous generations who live less grandiose lifestyles may feel compelled to buy more pragmatically.
Rolls-Royce’s marketing towards young, athletic millionaires has influenced its more youthful consumers. Lonny Soza, the president of a Houston dealership, noted that its primary Rolls-Royce sales come from new athletes and those playing professionally. Over the years, the brand’s consistent attention from athletes has made it the go-to vehicle for sporty types, mostly meaning younger people.
A change in its standard chrome parts has a significant factor in Rolls-Royce’s appeal to American youth. According to the company, its Black Badge option that replaces silver chrome parts with a subtler, black finish has sparked interest from younger consumers. A divergence from flashier car exteriors may be the way of the future, since younger people seem less interested in gaudy automobiles.
Rolls-Royce cars are continuing to make global headlines. The company manufactured a brand new vehicle this year called the Phantom Orchid, only available at dealerships in Singapore. The sleek, futuristic model was named after Singapore’s national flower, the hybrid orchid. The exterior is a silvery-white color, with a subtle tint of violet inspired by its floral namesake.
With a company that’s constantly innovating, it’s no wonder Rolls-Royce continues to appeal to younger demographics. New products, finishes, and marketing put these luxury vehicles high and above their competitors.
