Rolls-Royce CEO Torsten Muller-Otvos has confirmed a convertible version of the Wraith is in the pipeline. The bad news is this will take "some time" which possibly means the Wraith Convertible is not expected before at least 2015.

He dismissed rumors about Rolls-Royce working on an SUV as the company will focus on the Wraith Convertible and bespoke orders. 99 percent of all Phantom clients select the Bespoke customization program.

Speaking of the Phantom, a successor will be out at least three years from now. Muller-Otvos said there is a chance of a plug-in hybrid powertrain since this "is definitely the direction to go in".

In terms of production, Rolls-Royce is building 3,000 units annually but thanks to the new Wraith, most likely rate will be increased to approximately 4,700 cars.

Gallery: Rolls-Royce Wraith Convertible officially confirmed, SUV not considered

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