2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
Audi delivered a brilliant half-year result, primarily thanks to the high demand overseas. Despite the poor economic situation in Europe and higher expenses, the VW subsidiary expects annual financial statements to be at the level of the previous year.
Audi is defying the flagging auto economy and continues to earn splendidly. The luxury brand remains the pearl of earnings for the parent company Volkswagen, especially in view of the continued high demand for large and expensive cars overseas. The bottom line was that the Ingolstadt-based company earned almost 2.3 billion euros in the first six months, a whopping 34 percent more than a year ago, as the company announced on Tuesday. Sales increased by more than 16 percent to 25 billion euros. Audi sold around 733,237 cars worldwide in the first six months of the year. In view of the good figures, the group also confirmed its targets for 2012.
German market a pillar for Audi
Nevertheless, Audi is also concerned about the consequences of the euro crisis and the gloomy economic situation in Europe. The situation is unsettling consumers - and that's why many people hesitate to make purchases, writes Audi boss Rupert Stadler in the VW subsidiary's semi-annual report. Economic development is like cornering. But behind every curve there is another straight line, wrote the CEO. The German market is currently proving to be an important pillar in Europe, and the situation is particularly difficult in countries that are particularly hard hit by the euro crisis, such as Spain and Italy. Viewed worldwide, however, things are still going well for Audi.
"Provided that the general economic conditions do not deteriorate further, we expect an operating result on the level of the previous year despite higher expenses for new products, technologies and the expansion of the production structures", said CFO Axel Strotbek and confirmed the target for this year. Audi has already set another benchmark high: In the first half of the year, the VW subsidiary achieved an operating return on sales of 11.5 percent - a very good figure for the industry. (dpa)
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