Audi Posts 363 Million Euro Profit in Q1

It's not much, but it's a start...One of the few manufacturers to have posted a profit for the fiscal year 2008 (in fact, it was the company's 13th consecutive record year), Audi comes back with a vengeance in Q1 and post an operational profit of 363 million euros.

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.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram
About the author: Daniel Patrascu
Daniel Patrascu profile photo

Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories