Profit Down in Third Quarter for Audi

Profit Down in Third Quarter for Audi

0 comments 📅04 November 2016, 15:52

Audi reported its third quarter earnings today, and despite some drops in profit, the picture is anything but dire.

Audi’s operating return on sales hit 6.9% after nine months, down from 9.2% over the same period last year. That’s only after accounting for 752 million euros set aside for the diesel scandal and 133 million euros set aside for the Takata recall.

Before accounting for them, Audi’s operating return on sales was 8.9%. Although that’s still down from last year, the brand has managed to sell more cars so far this year than it did at this point last year (2016: 455,613; 2015: 445,611).

As a result, profit before tax at Audi amounts to 2.8 billion euros, and the brand only expects things to get better thanks to the lineup of new cars on the way.

The Q5 that launched just a few weeks ago, will be joined by the new Q2 and A5 family, which are set to hit showrooms soon, and they’ll be followed by the new A8, which will be a technological tour de force.

“The conditions our company faces are currently very challenging,” says Rupert Stadler, Chairman of the Board of Management of AUDI AG. “Nevertheless, we have achieved further growth since the start of the year. We have an attractive model portfolio that we will strengthen further with future new products. Our strategic plan is in place. The task for our strong Audi team now is to implement it systematically.”

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