In The Third Quarter, Audi Generated A Profit Again….

Audi’s profit more than doubled in the third quarter, largely thanks to a very weak performance in the same period last year, according to the manufacturer’s latest financial results released on Friday.

Group-wide profit after tax rose to 718 million euros ($830.4 million) between July and September, 2.6 times the year-ago figure but only a slight improvement on the 716 million euros earned in the second quarter.

In the third quarter of 2024, Audi’s profit after tax fell to 272 million euros, partly due to restructuring costs due to the closure of the Brussels plant.

In 2023, Audi announced a profit of 1.2 billion euros in the third quarter.

The Ingolstadt-based manufacturer is struggling in the Chinese market due to fierce domestic competition, while US tariffs are also weighing on results.

According to Chief Financial Officer Jürgen Rittersberger, the tariffs imposed by US President Donald Trump cost Audi 850 million euros in the first three quarters, and he expects that figure to reach 1.3 billion euros by the end of the year.

Unlike German rival BMW, for example, Audi does not have its own factory in the US and is deciding whether to build one to turn things around in the long term.

“We are responding to the challenging economic situation and increased competition with consistent cost-cutting measures and continue to work on our financial results,” Rittersberger said.

In March, Audi announced that it would cut up to 7,500 jobs in Germany by 2029.

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