AUTOS: Rolls on the Block

The name Rolls-Royce has been synonymous with elegance on wheels for nearly three-quarters of a century. All the more embarrassment, then, when Rolls-Royce Motors Ltd. was unceremoniously put on the auction block last week by a British bankruptcy receiver to help pay off old debts.

The old Rolls-Royce company went bust in 1971, overwhelmed by the cost of producing advanced jet engines for American planes; its aero-engine division was nationalized by the Crown and a new operation, Rolls-Royce Motors, was created to continue making cars, diesel engines and turbine parts. The motor business has done well; it posted nearly $10...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!