Rolls-Royce Motor Cars chief executive officer, Torsten Mueller-Oetvoes, has announced that the current Phantom will enter the last stages of its celebrated life in 2016. This announcement follows the recent news that Rolls-Royce Motor Cars has begun testing its all-new aluminum architecture, which will underpin every future Rolls-Royce arriving in-market from early 2018. He also announced that Phantom Coupé and Drophead Coupé models will not be renewed in the future. These two Phantom models will end their lives with a special collection of only 50 highly desirable cars to be called Phantom Zenith.
The current seventh generation of Phantom started production in Goodwood over 13 years ago and quickly became the foundation upon which the renaissance of Rolls-Royce Motor Cars was built. A magnificent, graceful and powerful statement of the marque’s claim to the very pinnacle of super luxury, Phantom VII is now approaching the end of its production.
Rolls-Royce ends Phantom production
Rolls-Royce ends Phantom production
Price cuts drive sales of Saudi-owned electric car
- Lucid delivers more vehicles than expected as it prepares to launch luxury new Gravity SUV
RIYADH: The majority Saudi-owned electric car maker Lucid delivered more vehicles than expected in the past three months as price cuts helped boost demand.
The company delivered 2,394 cars from April to June 30, above analysts’ predictions of 1,940.
Lucid produced 3,838 vehicles in the first six months of 2024 and needs to make more than 5,162 cars by end of the year to meet its annual output forecast of 9,000. It made 8,428 cars in 2023.
“I think at this point everything is shaping for them to achieve that,” said Andres Sheppard, senior equity analyst at Cantor Fitzgerald. Lucid will produce and deliver more cars in the second half of the year because of the usual seasonal effects on the industry, he said.
Demand for electric vehicles has grown more slowly than expected pace in the past year, under pressure from high borrowing costs, economic uncertainties and consumer preference for hybrid alternatives.
Lucid and the market leader Tesla have responded by slashing prices and offering incentives such as cheaper financing options. Lucid, which is 60-per-cent owned by the Public Investment Fund, the Kingdom’s sovereign wealth fund, cut the price of its flagship Air model by 10 percent in February.
Its new Gravity SUV model, a rival for Tesla's Model X, goes into production this year and will cost about $80,000.
