When Rolls-Royce Motor Cars launched the Spectre in late 2023, the British automaker’s ultra-wealthy customers jumped at the chance to buy the brand’s first electric vehicle that offered a silent ride over the noise of a V12 engine.
Two years on, early enthusiasm has waned for the $420,000 model which can reach 60 miles per hour in 4.4 seconds, and sales have slumped, suggesting even billionaires are hesitant about buying EVs. The luxury marque looks set to fall in line with other brands by walking back earlier electric-only pronouncements by the end of the decade.
In an interview at Rolls-Royce’s Goodwood base, chief executive officer Chris Brownridge said the brand would cater to what buyers want-all while ramping up customisations, including putting more resources into a global network of private offices for one-on-one client meetings.
“We will launch more electric-powered Rolls-Royces, but they’re Rolls-Royces first,” said Brownridge. “We see very strong demand for V12-where the client demand continues for that engine, we will continue to produce Rolls-Royces as well.”
Automakers across Europe have been rolling back their electric ambitions as demand has disappointed, with the EV transition becoming uneven across the globe. Last month, the European Union watered down its EV push, effectively scrapping a 2035 ban on the sale of new combustion-engine cars, while the US has U-turned on EVs under President Donald Trump.
After a fast start with Spectre in 2024, its first full year of sales, deliveries of the model slumped 45% in the first three quarters of 2025 from a year earlier, compared to a 3.3 per cent rise for all Rolls-Royce vehicles, analysis of BMW group’s earnings shows. Spectre’s share of Rolls-Royce’s total sales has fallen to below a fifth this year, from a third for the whole of 2024.
“If you look at a concept such as this, it has a very high demand initially and then it stabilises-and remains stable for its life cycle,” Brownridge said. “It’s what we saw with Wraith and with Dawn in the past.”
Rolls-Royce – isn’t an ordinary automaker, representing, alongside the likes of Ferrari NV and Bentley, more of a luxury lifestyle rather than a means of transportation.
