Audi achieves high operating profit in first half of 2022 

Despite challenging scenarios, Audi delivered 7,97,587 cars to customers in the first six months of this year compared to 2021 in which the premium auto brand delivered 9,86,567 cars.
By : HT Auto Desk
| Updated on: 31 Jul 2022, 09:23 AM
File photo of Audi logo. (Used for representational purpose only)
File photo of Audi logo. (Used for representational purpose only)
File photo of Audi logo. (Used for representational purpose only)
File photo of Audi logo. (Used for representational purpose only)

Audi announced its balance sheet for the first half of 2022 and it shared that due to the ongoing global semiconductor crisis and Covid-19-related lockdowns in China, the brand could not achieve the high demand for its core brand vehicles. Audi, however, managed to earn positive revenue as it increased by two per cent, that is to 29.9 billion euros. Audi's operating profit reached a new high of 4.9 billion euros.

Despite challenging scenarios, Audi delivered 7,97,587 cars to customers in the first six months of this year compared to 2021 in which the premium auto brand delivered 9,86,567 cars. Audi delivered 50,033 electric vehicles in the current half which is 52.7 per cent compared to 2021. Last year, Audi delivered 32,775 EVs in the first half. Though the Audi e-tron remained popular among the customers, the Audi Q4 e-tron recorded the highest growth in the first half of 2022, informed the luxury automaker.

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Chairman of the Board of Management of Audi AG Markus Duesmann said despite the challenging economic and geopolitical environment, the company was able to increase revenue and returns significantly. “At the same time, the current situation in the world makes it clear that economies and society need to move away from fossil fuels even quicker. Expanding renewable energies and switching to e-mobility are important steps in this direction. That’s why we’re on the right track with our strategic focus on e-mobility and carbon-neutral production," added Duesmann.

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(Also read | Audi says luxury car market in India remains suppressed due to high taxes )

With the ongoing challenges, Audi is expecting deliveries of between 1.8 and 1.9 million vehicles and earning revenues between 62 and 65 billion euros for the full year 2022. The company also expects the operating margin to stay within the range of nine and 11 per cent along with net cash flow that is being expected to reach between 4.5 and 5.5 billion euros.

 

 

 

First Published Date: 31 Jul 2022, 09:23 AM IST
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