A new study shows the economic impact of a niche brand like Rolls is absolutely massive.
Rolls-Royce has revealed the results of an independent study conducted by the London School of Economics (LSE) to examine the carmaker's impact on the local and national economies. The Economic Impact Analysis showcases that a niche, ultra-luxury car brand can have a monumental impact, with more than $5 billion contributed to the British economy since 2003. That year, Rolls-Royce moved its production headquarters to Goodwood, where investments have benefited local and national communities in many ways.
Rolls-Royce continues to be one of the world's most successful ultra-luxury marques, with demand increasing steadily for Bespoke products, including recent creations that celebrate the city of Manchester or the ten incredible Bespoke builds the brand created last year when customers spent more on custom builds than ever before.
But just how big an impact can an automaker that only sold 6,021 cars in 2022 have?
Well, more than 2,500 people are employed full-time in Goodwood, meaning Rolls-Royce is one of the biggest employers in the entire West Sussex region. Looking further down the supply chain, Rolls' business enables a further 7,500 jobs. It reinforces its commitment to growth by focusing on the training and education and knowledge and skills transfer to its employees and suppliers. Beyond this, the brand also partakes in corporate social initiatives and supports local charity organizations.
Rolls invests an average of $12.5 million annually in its Goodwood facilities, which has seen the company set record after record for production numbers in recent years, despite the challenges of a global pandemic, semiconductor chip shortage, war, and other supply chain challenges. For a company that was once a corporate sibling of Bentley, the growth it has seen is nothing short of remarkable.
During the pandemic, Rolls proudly proclaims it did not lay off a single worker, making it one of just a handful of automakers that kept its workforce intact and, in the process, supported thousands of families when many were losing their incomes.
But what comes next?
Rolls-Royce will further expand the Home of Rolls-Royce at Goodwood, already acquiring property near the current facilities. Its main goal is to upgrade what it already has and prepare for new vehicles. Some of its equipment dates back two decades, and with the Rolls-Royce Spectre being the first EV from the brand with more to come before it becomes EV-only in 2030, contemporary production facilities are a must-have.
Despite this evolution, Rolls-Royce remains committed to building bespoke products and states that it "is not, never has been and never will be a volume-driven business." Instead, it will rely on customers spending half a million dollars on customized builds.
"Rolls-Royce Motor Cars is a Great British success story," proclaims Rolls-Royce CEO Torsten Muller-Otvos. "As we mark 20 years of production at our Home in Goodwood, we do so in the knowledge that not only have we have produced some of the world's most significant super-luxury products, but we have also made a major economic contribution to the economy in which we are based."
He highlights the nature of the business as the creator of rare and exclusive machinery, too. "Through our rare crafts and craftsmanship, international customer base and products admired and cherished worldwide, we are sustaining thousands of skilled jobs and playing a key role in promoting the UK's reputation as a hub of creativity and innovation."
Things are looking up for Rolls-Royce, and while the end product is something only the one-percenters can even dream of, it's a refreshing change of pace to see an independent study verify the impact of such a niche brand on the community at large.
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