MANILA, Philippines – For at least P25.9 million, you can own this car.
Iconic British luxury vehicle brand Rolls-Royce has come to the Philippines, whose record economic growth is seen to boost spending by the country’s super rich.
In a launch at The Peninsula Manila yesterday, Rolls-Royce announced the appointment of businessman Willy Tee Ten’s British Bespoke Automobiles Inc. as its official importer-dealer for Manila, the carmaker’s first ever dealership in the Philippines.
The decision of Rolls-Royce to enter the Philippines is based largely on the country’s improving economic fundamentals, its regional director for the Asia-Pacific Paul Harris said.
“It is a positive time for Rolls-Royce Motor Cars to be entering the Philippines, one of the fastest growing Asian economies this year. We are confident that the brand will do well in this country. I am looking forward to moving ahead with British Bespoke Automobiles in this exciting new market,†Harris said.
In the first quarter of the year, the Philippine economy grew 7.8 percent, making the country the fastest growing economy in Asia as it beat China’s 7.7 percent annual growth and 1.6 percent quarterly performance.
The 7.8 percent is above the full year target of six to seven percent and the 6.8 percent recorded last year.
At yesterday’s launch, Ten said his dealership is aiming to sell at least 10 units within the year and as many as 99 units next year.
He said prominent businessmen, including Manuel V. Pangilinan, have expressed interest in acquiring their own Rolls-Royce cars. “There are many inquiries and interest from people... maybe 20 people,†Ten said.
British Bespoke Automobiles will import the brand’s Phantom, Ghost and Wraith models to the country.
Ten said a new Rolls-Royce showroom is set to open at the Bonifacio Global City in Taguig City in the first quarter of 2014.
The Rolls-Royce Ghost sells for P25.9 million for the entry-level unit, while other units may sell for as much as P33 million.
Ten said units may arrive by December or later for orders placed now, depending on the customization a buyer may require.
The luxury market in the Philippines sells between 2,000 and 3,000 units a year.
The appointment of a Manila importer-dealer is part of Rolls-Royce’s expansion of its presence in the Asia Pacific region from China to 21 cities.