Search the Community

Unfazed by the European debt crisis and sluggish global economy, Rolls-Royce plans to increase the number of dealers from 105 to 120 worldwide in countries such as Vietnam, Thailand and Chile to target the well-to-do. Rolls-Royce is counting on the growing wealth in Asia and South America to generate demand as the debt crisis dampens sentiment among Europe's rich. The number of households in these regions with more than $5 million in assets is set to grow by 3 to 5 percent per year in the coming years, said Torsten Mueller-Oetvoes, Rolls-Royce's CEO. "Of course, we feel that the mood isn't the best in certain markets, but we're able to compensate with growth in places such as Russia, the Middle East and China," he said. "Our goal is to grow sustainably and not chase volume. Rolls-Royce will remain exceptional," Torsten added. The concentration of wealth is increasing in developing markets. The Asia-Pacific region overtook North America with the most high-net worth individuals in 2011. Earlier this year, Rolls-Royce created a Year of the Dragon special edition of the Phantom for the China market, featuring a hand-painted gold dragon on each side of the wheelbase. They were sold out within two months. China is the perfect example rising affluence in Asia.

The 2012 F1 season concluding Brazilian Grand Prix was met with rain, crashes, and suspense. While Vettel managed to finish a best of six in a damaged car, the results were good enough for him to clinch the much anticipated third world title. Red Bull had all the reasons to celebrate, after clinching the constructor's championships last weekend at Austin and grabbing the drivers championships through Vettel at Brazil. More than becoming the world's youngest triple world champion - by just three points over Alonso - Vettel also joins an elite club whom have claimed three titles consecutively. It was high octane drama from the first lap, heading down into turn four, it was disaster for Vettel who spun around, incurred damaged and thrown to last place after getting tagged by Bruno Senna's Williams. At this point the championship battle was in Alonso's favour who drove flawlessly till the end. Over the course of the next 71 laps, it was an intense battle with the much expected rain making appearances in varous intensities and leaving the pit crew scrambling for perfect tyre strategies. The under appreciated Nico Hulkenberg of Force India drove well with slick tyres on damp conditions. The German lead the race over Button for several laps before a questionable pass on Hamilton went all wrong exiting Hamilton from his final race with McLaren and earning a drive-through penalty in the process. Jenson Button regained the lead and stayed comfortably. Behind him was the RB8 piloted by Vettel managed to get up to sixth place after overtaking Schumacher on the 64th lap. At that moment the points situation became 281 to 278, just enough for him to win the championship. There was a final drama to be played out when Paul di Resta crashed his Force India heavily in the final sector on the 69th lap, bringing out the safety car two laps to the end of the race. As the safety car pulled in before the 71st lap was over, FIA history books were re-written. At just 25-years old, Vettel became the youngest triple world champion and joins Juan Manuel Fangio and Vettel's racing hero, Michael Schumacher as the only drivers in the long history of Formula One to score a hat trick of championships. Schumacher finished seventh on his 306th and final race as he retires for the second and last time from Formula One. Vettel might be a champion by statistics, but fans claim Alonso deserves more for he took a difficult and inferior Ferrari and pulled it to second in the championships. During post race, the unfazed and cold stare from Alonso could only mean one thing - this is not over. Congratulations Vettel and Red Bull Racing, hang in there Alonso, good luck on your future endeavours with Mercedes Hamilton and a sincere thank you Schumacher, for without you Formula One would not be where it is today.

Brazil is the largest national economy in Latin America, the world's sixth largest economy and the seventh largest in purchasing power parity (PPP) according to the International Monetary Fund and the World Bank. With that in mind, it is with no surprise that major car manufacturers made their presence felt at the 27th Paulo International Motor Show which opened its door from 24 October to 4 November. The show is the largest ever. Just like Brazil, which is the home to some of the world's most famous spices, the 2012 S

China brands may not win many hearts in Singapore but at the other part of the continent at South America, China cars are slowing gaining acceptance. For instance, Lima (Peru) taxi driver Mario Segura was disgusted by the thought of buying a Chinese-made car. He had doubts about the vehicles' durability, service and resale value. "Little by little, I heard favorable comments," said Segura, speaking in a Chery showroom in the Surquillo district. He had just paid $12,000 in cash for a new Fullwin XR sedan, half the cost of a comparable Fiat or Renault. "It took a long time to decide, but I'm risking it," he added. Chinese car brands were introduced in Peru in 2006 and they has about 17% market share now. There are approximately 90 different Chinese brands in Peru now. Price is the main selling point of the Chinese cars. New Chinese cars typically sell for half to two-thirds the cost of a comparable European, U.S. or Japanese vehicle, said Guido Vildozo, an auto industry expert with consultants IHS Automotive in Lexington, USA. The low price is the result of cheaper labor in China and low development cost due to design and mechanical imitation. Chinese manufacturers are entering the Latin America market as the population becomes more affluent. China exported 800,000 cars in 2011 to Lain America but hopes to boost that number to 2 million by 2015 and to 3 million by 2020. Latin America is identified as the starting ground for Chinese automakers