Audi has slashed its 2026 financial outlook following a weaker nine-month performance, driven by deteriorating conditions in China, intensifying pricing pressure, global competition, energy uncertainty, and new US tariffs.
The group now forecasts revenue of €55bn ($61.71bn) to €59bn for 2026, versus its earlier projection of €58bn to €63bn.
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It lowered its expected operating margin to 3% to 5%, from previous range of 5% to 7%.
Net cash flow is now expected to reach €2.5bn to €3.5bn, compared with the previous estimate of €3bn to €4bn.
For the first nine months of 2026, group revenue declined to €42.06bn from €48.39bn in the corresponding 2025 period.
Operating profit fell to €1.15bn from €1.55bn, while the operating margin decreased to 2.7% from 3.2%.
Profit after tax dropped 41% to €1.21bn.
Brand Group Progressive delivered 1,056,103 vehicles globally, down from 1,191,141 a year earlier.
Audi brand deliveries declined 11.4% to 1,042,150 vehicles.
It recorded moderate delivery growth in Germany and Europe, while volumes fell in China and North America.
China deliveries declined 24.5% to 328,042 vehicles, and North American deliveries fell 17.3% to 128,749 vehicles.
Deliveries in Germany increased 1.8% to 152,011 vehicles. European deliveries rose 1.3% to 360,649 vehicles.
Global battery-electric vehicle (BEV) deliveries fell 12% to 143,748 units.
However, BEV deliveries rose 39.1% in Germany and 84.7% in China. Global plug-in hybrid deliveries increased 103%.
Audi said it would increase efforts to cut costs and complexity, raise operational efficiency, and invest selectively in products, software, artificial intelligence, and driver-assistance systems.
European deliveries of the A2 e-tron3 electric compact model will begin in December, following the Q92 launch in November.
Bentley’s operating profit declined to €49m from €115m, while Lamborghini’s fell to €564m from €592m.
Audi CEO Gernot Döllner said: “The economic situation demands that we consistently renew Audi. To this end, we are setting clear priorities: reducing costs and increasing quality and productivity. At the same time, we are making targeted investments in new products and technologies and strengthening our presence in growth markets.”
Last month, Audi unveiled its plans to invest approximately $4bn to set up its first US manufacturing facility.
