“These earnings show that our qualitative growth strategy is working,” said Axel Strotbek, Member of the Board of Management for Finance and Organization at AUDI AG. “We want to sell more than 1.2 million Audi brand cars in 2011 and also increase revenue and operating profit compared with last year. However, the high volatility of the relevant exchange rates and the rise in prices for important raw materials continue to represent risks for us.”
In the first quarter of 2011, the Audi Group increased revenue by 27.3 percent in comparison with the same period from a year ago €10,514 million (2010: €8,260 million). Thanks to an improved model mix and continuous optimization of processes and costs, the Company also more than doubled its operating profit.
The A8 flagship, the A7 Sportback and the Audi A1 contributed greatly to making 2010 the strongest year in terms of sales in the Company’s history. However, demand for these models remained high in the first quarter of 2011. This is expected to continue, as the A6 Avant will become available during the second half of this year, helping the Company to achieve its targeted delivery record.
The Company is also opening up a new market segment with the Audi Q3, which was presented in late April in Shanghai. Advanced sales of the baby SUV will kick off in June.
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