Audi delivers yet another disappointing quarterly report. The operating profit has shrunk by as much as 91 percent over the past 3 months.
Crisis-stricken Audi is in a period where profits are plummeting. In the last quarter alone, the operating profit has shrunk by 91 percent.
This is due, among other things, to a restructuring of Audi's factory in Brussels, which the car brand recently confirmed is closing. Read more about it here.
The crisis comes in the wake of a challenging market with increased competition and limited access to spare parts. Sales of Audi, Bentley and Lamborghini have fallen by 10.9 percent in the first nine months of the year.
Audi in particular is feeling the crisis. Sales in the USA have fallen by 16.8 percent to 139,665 cars. Sales in Europe and China have also fallen by 9.8 percent and 8.5 percent, respectively. In total, the Audi group has delivered 1.25 million cars in the first nine months of 2024, compared to 1.4 million cars in the same period last year.
The fall in sales has led to a fall in revenue from DKK 354 billion to DKK 328 billion. Operating profit has fallen even more, from DKK 32 billion to DKK 15 billion. In the third quarter alone, operating profit fell by 91 percent to DKK 750 million.
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Audi is trying to counter the crisis by updating the model range. 15 new models are introduced in 2024, including the A5 and Q5.
Later this month, the Q5 Sportback will be launched, and at the beginning of next year, a new A7 will arrive. Audi is also revising its strategy in China, where in the future there will be a focus on partnerships and cars specifically designed for the Chinese market.
Read more exciting news from and about the world of cars right here!
