GERMANY: Audi delivers strong Q1 results
Audi has increased first quarter revenues by 13.4% and operating profit rose 14.6%.
Vehicle sales were up 9.4% to 248,164 units.
In a statement to coincide with its annual general meeting (AGM) being held today in Neckarsulm, Rupert Stadler, Audi chairman, said: "We want to break the one million barrier by the end of 2008."
Audi said the good Q1 performance was due to encouraging development in the core model lineup, but a key role was played by the Q7 and the TT models. In April, Audi increased its worldwide sales by 9.2% to 84,736 (77,624) units. The company thus sold 332,900 (304,426) vehicles worldwide in the first four months of the year, up 9.4% year on year.
Audi enjoyed strong growth in European export markets, with an increase of 11.9% to 39,457 units in April and 13.5% to 165,221 vehicles in the first four months. In Russia, sales grew by 76.6% (4,409 units) in the first four months of the year.
In the same time, India posted growth of 75.6% (145 units). In order to realise growth potential there, Audi will open seven new dealerships this year and begin local assembly in autumn. In its second home market, China (including Hong Kong), Audi achieved growth of 23.7% in the first four months equaling 32,961 vehicles.
In the US, unit sales rose 15.2% (29,134 vehicles).
Ralph Weyler, marketing and sales chief, said at the AGM: "The 2006 financial year and the first quarter of 2007 show that we are on the right track. We will continue to expand into new markets and realise existing potential, in order to deliver 1.5m vehicles to customers worldwide by 2015."
In order to attain these ambitious goals, Audi will continue its product drive in 2007 systematically. The new TT Roadster has been in showrooms since March. The hand-made R8 sports car was launched in April. "Demand has already exceeded our expectations," Stadler said.
At the Geneva motor show, Audi launched new A5 and S5 models which will go on sale at the end of June.