Luxury Auto: Rolls Royce unveils its first SUV, eyeing younger millionaires

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02:48

Rolls Royce has lifted the veil on what's being billed as its most important launch since it was bought by BMW 20 years ago. It's a high-end SUV sports utility vehicle, and comes onto the market amid fears of a global trade war. In London, Richard Bestic spoke to the Chief Executive of Rolls Royce, Torsten Muller-Otvos.

A smiling Torsten Muller-Otvos, the top man at Rolls Royce, stands proudly by his company's latest pricey offering. 'Gone' the regal lines traditionally linked with a Rolls and 'in' an off-road SUV', targeted, says Torsten, at younger millionaires, as he brushes aside the threat of a global trade war.

TORSTEN MULLER OTVOS, CEO ROLLS ROYCE "I'm an optimist. I think we're going to see something, which adjusts itself, and I don't think that the world will end up into an overall trade war. That will not happen. I'm particularly interested that we'll be able to export our cars all over the world and I think we're going to find a solution for whatever comes."

The new car, it's claimed, takes the Rolls Royce carpet ride off road. Ninety percent of Rolls Royce cars destined for the export market and the company is pinning its hopes on the new SUV increasing sales by up to 50 percent.

RICHARD BESTIC LONDON "Just how many of the owners of this third of a million dollar SUV actually take it off road is as yet an unanswered question. The target markets being, of course the Middle East, North America and China."

SUVs are the motor industry's big success story. Figures from the data company JATO Dynamics indicate a 35% market dominance. The question, whether Rolls is a little late to the party, with Bentley and Lamborghini already taking a chunk from the high-end SUV market. One late bonus for Rolls Royce, a cut in Chinese vehicle import duties.

TORSTEN MULLER OTVOS, CEO ROLLS ROYCE "Of course, it will help and that will also probably boost our business further in the Chinese market. By the way, the business in the Chinese market is on a very strong path for us. Has been always in China and let's wait and see when China overtakes the United States as being the No.1 market. Let's wait and see when that happens."

And happily for Rolls Royce, with China churning out a new billionaire every five days, according to British accountants PriceWaterhouseCoopers, that could be sooner rather than later. RB CGTN Rolls Royce London.