Audi Posts Good Profit for Q1

With an operating profit 30 percent above the levels reported for the first quarter of 2009 (478 million euros for Q1 2010), German manufacturer Audi managed to clearly surpass the rise in revenue and can now safely say the hard time is over.

"This very good result impressively demonstrates the success of our efforts to optimize costs on a sustained basis at all our sites,” Axel Strotbek, Audi member of the board for Finance and Organization said in a statement.

“The first-quarter result is a sound foundation for us to attain our goal of surpassing our 2009 revenue and operating profit levels.”

In the first three months of the year, Audi posted a revenue of 8,260 million euros, or an increase of 23.3 percent when compared with the same period of last year. Sales also increased by 25.9 percent, reaching 264,100 units.

For the current year, the carmaker plans the release of 12 new models. The new line-up includes the A8, the R8 Spyder, the A7 Sportback and the A1, the model which marks Audi's entrance in the small car segment and is, at the same time, regarded as the main seller of the end-year.

With both the good financial results of the past months and the projected success of the new models, the carmaker has revised its sales target for 2010, now hoping to sell one million vehicles. An important contribution to the goal set by mother-company Volkswagen of overtaking Toyota as soon as possible.
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About the author: Daniel Patrascu
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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.
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