Chinese Market Deals Blow to Audi: Company Profit Falls Sevenfold
In July–September, Audi Group posted a profit of 95 million euros, down from 718 million euros in the same period a year earlier. The company identified falling sales in China and intensified competition from Chinese automakers in Europe as key factors behind the weaker results.
31 Oct, 15:22Read in Russian
ixbt.com — Audi
Audi Group recorded a decline in financial performance in the third quarter. The automaker’s revenue totaled 12.8 billion euros, a 19.5% decrease compared with the same period last year.
Over the three months, the company delivered approximately 320,000 vehicles to customers. Audi also acknowledged a marked reduction in deliveries, revenue, and operating profit for the first nine months of the year and described the third quarter as especially difficult.
