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Ian Robertson, CEO of Rolls-Royce, told journalists at the Geneva Auto Show that the company was planning a small car. Now in an interview with Reuters at the 2007 Shanghai Auto Show, he confirmed that the company has finished designing the car and the first prototypes should be on their way very shortly.

Cost of the car will be a third less than the Phantom and will be priced between the Phantom and the BMW 7-Series. Rolls-Royce is hoping that the new small car will help it increase sales worldwide. “We should more than double our overall sales with a broader market,” Robertson said.

Robertson also said that the company will start reengineering its factory to put in a second line and will be adding two new dealerships in China, where it hopes the small car will be a success.

Rolls-Royce cars usually sell for $900,000 in China, but last year the BMW owned company sold one for $2.3 million.

Source: Reuters

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