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Denise Tsang

Car trader MD Motors, a unit of Inchcape, has seen orders for luxurious Rolls-Royce limousines fall by one-tenth since the economic slowdown last October, sales and marketing manager Spanser Lam says.

 After yesterday's launch of the first new model - the Silver Seraph - in 18 years, Mr Lam said MD Motors, the authorised distributor of the cars in Hong Kong, expected this year's sales would drop 5 to 10 per cent from last year when sales jumped 50 per cent to 66 Rolls-Royce cars.

 Keith Sanders, a member of the Rolls-Royce board, said 'a question mark' was hanging over the Hong Kong and Japanese economies, but hoped the new model would spur sales.

 On Monday British engineering group Vickers, which is selling Rolls-Royce, entered exclusive negotiations with German car-maker BMW which is rumoured to be offering HK$4.4 billion for Rolls-Royce.

 Vickers decided to put the prestige British car-maker up for sale as it plans to focus on engineering.

 However, Volkswagen of Germany was reported to have launched a $6 billion rival bid, although this was denied by Mr Sanders.

 'Apart from Monday's deal with BMW, I haven't got any knowledge about Volkswagen's offer,' Mr Sanders said.

 Mr Sanders said it was premature to anticipate the possible impact of the deal on Rolls-Royce.

 In the wake of the difficult market in Hong Kong, Mr Lam said MD Motors would spend $10 million to promote the new model, which is priced at $3.28 million, and upgrading customer services.

 'Given a 30 per cent rise in promotion expenses and the current tough market, our sales are expected to fall this year,' Mr Lam said.

 The average retail price of Rolls-Royce models was raised 2 per cent this year reflecting the depressed consumer market, compared with a 5 per cent rise last year, he said.



Rolls-Royce unveils Silver Seraph with market in slow lane