News
Audi Profits Plummet By 74 Percent As Supply Of Engine Parts Being The Main Culprit
A major financial blow for Audi: profits in the first quarter were no less than 74 percent lower than last year. According to the company, this is due to problems in the supply of engine parts.
In recent years, many brands have insisted that money should be made mainly from the more luxurious and sturdier motorized models that they offer. After all, there is a significant margin to be had on those cars. This also applies to Audi, but it is currently quite disappointing for Audi to see how many cars it can sell with a big engine. There are problems in the supply of an important part that Audi needs in the V6s and V8s. According to Manager Magazin, this is a belt that is needed for the starter generator in the mild-hybrid versions of the V6 and V8.
Audi itself indicates when presenting its quarterly figures that these problems in particular have a significant impact on its profit figures. Audi made a profit of €466 million in the first quarter, which is no less than 74 percent or more than €1.3 billion less than last year. You can imagine that Audi is, to say the least, not very happy with the delivery problems, and, according to Manager Magzin, Audi has been at odds with the company that supplies it for quite some time. Automobilwoche understands that Audi is ‘well on its way’ to come up with a solution to be able to supply the models with the affected engines.
