Tuesday, May 21, 2024

Audi in crisis? Have lost 8 billion kroner in 3 months

The result of the primary operation has shrunk by as much as 76 percent in the course of the first quarter. This corresponds to a loss of almost DKK 8 billion.

Audi may not be on the brink of bankruptcy, but the economy has looked much better.

Thus, the brand from Ingolstadt managed to lose a whopping 1 billion euros, corresponding to 7.6 billion kroner, in the course of the first quarter of 2024.

This can be rewritten as a result of the primary operation, which has shrunk by 74 percent when compared to the same period last year.

The car brand says so itself in a press release .

READ ALSO: 20-year-old Dane in the running for a Formula 1 seat: "No comment"

The VAG brand itself attributes the poor result to 'a number of challenges'—among other things, there have been bottlenecks in the supplier chain that have hampered the production of V6 and V8 engines.

Audi's financial director Jürgen Rittersberger says so. In fact, for a period of time, Audi was forced to stop selling the engines because crucial parts from a supplier were missing.

According to Manager Magazin, the 'decisive part' is supplied by the company Vitesco. This is a belt for the start of the V6 and V8 engines.

Allegedly, Vitesco and Audi have been fighting over the component ever since the summer of last year, i.e. in 2023. However, the sub-supplier does not wish to publicly deal with the conflict with the car brand.

But Audi has allegedly been unable to obtain parts from other suppliers quickly enough to adjust production or let it continue.

However, Audi is not the only car brand that is now saying goodbye to a bad quarter. The VAG group, of which Audi is a part, could also have wished for a better bottom line.

The same is the case for Mercedes, the Stellantis Group and even Tesla. Read more about it right here .

Read more exciting news from and about the world of cars right here

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