How Rolls-Royce is winning over Tesla owners and millennials

It's a trend that's surprised even Rolls-Royce executives: Tesla owners frantically placing preorders for Spectre, the first all-electric Rolls-Royce that costs more than $400,000.

The 118-year-old British automaker begins production of Spectre, a chic, uber-luxe coupe that seats four, this fall. Pre-orders are already in the thousands -- with some customers forced to wait until 2025 for a slot on the production list.

Rolls-Royce has also seen astronomical demand for its Cullinan SUV, with customers, many of whom are in their 30s, waiting up to 14 months to get one.

Hip, edgier and performance-driven models, including the introduction of Black Badge, have attracted new clients and accelerated sales. Rolls-Royce delivered a record 6,021 vehicles last year, up 8% from 2021. Demand for bespoke commissions is surging and owners are paying more than $500,000 on average for their Rolls-Royce.

Martin Fritsches, president and CEO of Rolls-Royce Motor Cars Americas, credits younger buyers for pushing sales to historic highs, calling them a "driving force" behind the brand's blockbuster success. The average customer is 42 years old, down from 50 eight years ago.

"We continue to strengthen our order bank and models like Spectre are also bringing us new business and new clientele," he told ABC News. "[Rolls-Royce] is a brand that continues to evolve."

When the company unveiled a prototype of Spectre to customers last summer in Goodwood, England, Fritsches said executives were dumbfounded by the response.

"It was eye-opening for us, mind-blowing," he said. "Customers are waiting such a long time for the product -- there is no precedent in Rolls-Royce history. It's becoming a challenge to manage expectations. I have customers constantly texting me, 'Martin, where is my Spectre? When am I getting it?'"

Tesla owners in particular are now "finally adding a Rolls-Royce to their garage," he added.

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Rolls-Royce, long celebrated for its hand-built automobiles, lavish interiors and mighty V12 engines, announced in September of 2021 that it would end production of its internal combustion conveyances and become an electric vehicle company by the end of 2030.

Spectre, which the company says is a "Rolls-Royce first, electric car second," can travel an estimated 260 miles on a full charge. It sprints from zero to 60 mph in 4.4 seconds and delivers 664 ft-lb of torque and 577 horsepower.

Two-time World Series champion Brandon Belt bought his first Rolls two years ago for weekend trips with the family. His growing auto collection includes the latest cars from Ferrari, McLaren, Mercedes and Porsche. Belt's Cullinan SUV, however, stands apart.

"Cullinan is the pinnacle of coolness, luxury, comfort and style," the 34-year-old first baseman for the Toronto Blue Jays told ABC News. "No other vehicle can match all these qualities."

Belt has a Black Badge Cullinan on order at his local Houston dealership, along with a Spectre.

"I am really excited about it. That will be a special one," he said.

More than half of Rolls-Royces produced between 2015 and 2022 are sold to Generation X customers, according to Jonathan Klinger, vice president of car culture at Hagerty.

"Younger buyers are partly why Rolls-Royce is doing so well. They're buying Rolls-Royces in greater quantities," he told ABC News. "A higher percentage of younger people is investing in a 'fun' vehicle -- they're not waiting until they're older."