Did a massive transfer of wealth contribute to record sales for Rolls Royce? The best-ever sales record in its 117-year history? The indubitably German-owned British luxury car brand sold 5,586 units worldwide during 2021. The figure is 1,836 more than at the height of the pandemic during 2020. The Rolls Royce Ghost was the most popular model followed by the Phantom sedan and Cullinan SUV. So how did Rolls Royce achieve such a record-breaking figure during a global pandemic? A pandemic that has forced the closure of many businesses and put supply chains at breaking point?
There are two reasons, both of which are in no way related to Rolls Royce, reasons, nevertheless, that the company indirectly benefited from. In the USA a massive transfer of wealth was orchestrated by politicians who used the pandemic as cover to bail out corporations with taxpayers’ money. This very act shored up elite wealth by transferring $4 trillion to already comfortably off millionaires and billionaires.
Many more individuals became multi-millionaires, those who took advantage or were in advantageous positions to milk the Covid recovery system. In the UK politicians handed out hundreds of millions to unqualified friends and businesses who took advantage of the so-called ‘chumocracy’.
The Covid pandemic was a demonstration of disaster capitalism working at full flow. The creation of new millionaires and billionaires (500 were created during covid) during a rapid economic depression is almost unheard of. This new wealth creation is the reason why Rolls Royce enjoyed record sales.
Record sales when the rest of the world’s population was plunged into job losses, economic despair, and uncertainty. Of course, Rolls Royce is blameless, but one has to understand why and how a high-end, limited production luxury car manufacturer enjoyed a boom time during a global economic decline.