“Despite the difficult economic conditions, we are outperforming the overall market. Our Strategy 2015, which is all about sustained, profitable growth, is paying dividends in this time of crisis,” Rupert Stadler, Audi chairman of the board said in a release. “We will systematically continue our model initiative in 2009,” he added.
Still, the profit is lower than the one posted in the first quarter of 2008. As a result of the drop in vehicle sales revenue during the first three months dropped from 8,294 million euros to 6,700 million euros. The Audi Group’s operating profit fell to 363 million euros, from 514 million euros in 2008. Nothing unexpected, Audi says.
”The first quarter developed much as we expected and provides us with a solid basis for reaching our target of posting significantly positive results for 2009,” Axel Strotbek, Audi member of the board said.
As for units sold, the German manufacturer registered a decrease of 13.6 percent, amounting to 292,003 vehicles delivered. This hasn't stopped the company from consolidating its market position though, as it now has a market share in Western Europe of 4.7 percent.
“This success shows that we have the right products on the market and that they are popular with customers. We are therefore continuing our model initiative at unabated speed in 2009 and investing around €2 billion in new, innovative products and efficient engines,” Strotbek added.
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