egmCarTech

Audi today posted record profits as result of high sales of its top-end models. Before tax Audi posted profit of 2.91 billion euros an increase of 49.8 percent. After tax profit rose 1.69 billion. Worldwide sales were up 5.7 percent to 964,151.

According to Axel Stortbek, Audi’s board of member for finance and organization, the company’s record financials were a result of higher sales of models with high profit margins such as the Q7 SUV, TT and the new Audi A5.

Last year, TT sales more than doubled to 51,771 while the Q7 sales increased 81,775. Stortbek said that sales improved in markets such as central and eastern Europe and Asia also boosted profits.

Audi’s largest market is still Germany despite a 1.5 percent drop last year to 254,014.

 

Source: Automotive News (Subscription Required)

[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Audi[/tags]

Related Posts:

1. Honda posts Q1 profit, raises forecast
2. Hyundai posts record second quarter profit
3. Audi reports profit in 2008, warns 2009 is going to be bad
4. Audi: First half net profit up 67 percent
5. GM posts first quarterly profit in two years