With the launch of the Phantom V, Rolls-Royce offered its clients a long wheelbase vehicle of the highest class, reserved not only for dignitaries, royalty and heads of state, but also for those successful in business and finance who were looking for an exceptional car providing convenience, incredible comfort and plenty of room. Although the first orders were placed by the royal court and dignitaries, the bulk of inquiries originated in industry or from private individuals.
The Phantom V was based on the Silver Cloud II,sharing its newly developed V8 engine and the four speed automatic gearbox based on the General Motors Hydramatic design. The chassis followed the Silver Cloud's layout, but was lengthened and strengthened considerably by massive reinforcements and front and rear track were of greater dimensions. A final drive of particularly low gear permitted unfussy progress at a speed only slightly above walking pace. This was provided for use during, for example, ceremonial occasions.
Vast motor cars built to be driven by chauffeurs and fitted with unique coachwork to the customer's specification were not in great demand by 1959. The Phantom V, therefore, was manufactured to fill a highly specialised niche, a niche nonetheless profitable for its smallness. The series achieved overall production of 516 examples between 1959 and 1968.
Park Ward, now fully owned by Rolls-Royce, made 156 bodies. In 1962, H.J. Mulliner and Park ward were merged by Rolls-Royce, forming Mulliner-Park Ward. A number of 152 bodies were built by this new entity. Prior to the merger, only eight Phantom Vs were made by H.J. Mulliner.
As a moderately successful independent company James Young maintained themselves with 195 bodies, some of these being finished as Sedanca de Villes or 2-door Coupe. Most of them were built as luxurious Limousines.
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