Audi’s Net Profit Fell By Nearly 90 Percent

Audi AG, which also includes luxury car brands Bentley and Lamborghini and motorcycle manufacturer Ducati, saw net profit fall by nearly 90 percent to 95 million euros last quarter. In the same period a year ago, profit amounted to 718 million euros. Sales of internal combustion engines in China declined sharply, while European buyers increasingly opted for electric vehicles.

“The current financial figures released by the company clearly indicate that structural intervention at Audi is absolutely necessary and can no longer be deferred,” stated Financial Director Jürgen Rittersberger during a recent press briefing. “While our initial strategic measures are beginning to yield tangible results, the unprecedented intensity of current market competition and the shifting landscape of consumer preferences necessitate a significant expansion and acceleration of these operational efforts to ensure long-term stability and growth.”

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