The increasing number of seriously well-off people in Asia makes Rolls-Royce confident that demand for its super-luxury models will continue to grow.

'What's driving the super-luxury market is the growth of ultra-high-net-worth individuals,' says Ian Robertson, chairman and chief executive of Rolls-Royce Motor Cars. 'Forty per cent come from the United States, but an increasing number come from Asia where the growth rates are typically 20 per cent compared to the global average of about 10 per cent.'

Last year, the ultra-luxury car maker sold 805 of its Phantom limousines,the highest number since the model was launched in early 2003. This year, Rolls-Royce will boost sales further with the newly introduced Phantom Drophead Coupe convertible, of which it expects to sell about 200 each year.

Mr Robertson declined to put a number on the rate of growth for 2007, but said that the first quarter of this year has so far registered a 6 to 7 percent increase in volume.

Both the Phantom and the Drophead Coupe belong to the super-luxury segment of cars, defined as those costing more than 100,000 euros (S$206,700) and which have worldwide sales of 30,000 units. This segment has seen explosive growth in the past decade. In the late 1990s, the volume was just 5,000 units.

In Europe, the Phantom starts from 328,000 euros, and when the Drophead Coupe goes on sale next month, it will cost from 370,000 euros. In Singapore,the corresponding prices are from $1.5 million and from $1.698 million respectively.

The carmaker, which is based in Goodwood, England, says that despite its premium price tag, the Phantom is the market leader in this rarefied class of cars. It makes up one-third of all super-luxury cars costing above 200,000euros, and it is also the top seller among cars that cost more than 300,000euros, having 60 per cent of that market.

One reason for its strong performance is the expanding population of ultra-high-net-worth individuals (ultra-HNWI), especially in Asia. An ultra-HNWI is someone with financial assets in excess of US$30 million, as opposed to an 'ordinary' HNWI who has more than US$1 million.

According to the Asia-Pacific Wealth Report 2006 by Merrill Lynch and Capgemini, the number of ultra-HNWIs grew 12.1 per cent in the Asia-Pacific region, surpassing the 10.2 per cent global increase.

At end-2005, there were 15,600 such individuals in the region. Japan led with a 30.6 per cent share of the population and China was the runner-up at 29.1 per cent. Hong Kong made up 7.5 per cent, India 5.5 per cent, Singapore4.7 per cent, Taiwan 2.8 per cent, South Korea 2.4 per cent, and Indonesia one per cent, while the rest were classified under 'others'.

All this is good news for Rolls-Royce and confirms what the carmaker has been witnessing in sales. Already, China has become its third largest market -after the US and the UK - and Mr Robertson is confident that the steady growth in sales on the mainland will continue.

He says that the people who buy a Rolls-Royce are difficult to classify. 'Our customers don't segment themselves easily,' explains Mr Robertson. 'The only generic is that they are very successful.'

He adds that they are impervious to traditional marketing and prefer a venue where they can voice their opinions. So Rolls-Royce organises small bespoke events, such as those where they viewed the 100 EX, the experimental car which became the Drophead Coupe. As a result, the carmaker received valuable feedback about what its customers liked and didn't like.

Mr Robertson says 50 per cent of Drophead Coupe buyers are already Phantom owners, and the other 50 per cent are new.

Rolls-Royce is also preparing to launch a 'smaller' car, which will debut in 2010 and is said to be 70 per cent of the Phantom's price. It will have a different mix of buyers because Rolls-Royce expects it to appeal to a more corporate profile.