Audi on track to post higher 2010 sales, looking to dethrone BMW as largest luxury car maker

2011 Audi RS5

Audi announced today that it is moving towards its goal of posting higher sales and earnings this year after the Volkswagen owned automaker’s first quarter profits rose by a third.

Audi’s operating profits were up 32 percent to 478 million euros ($632 million USD) in the first quarter and sales increased 23 percent to 8.3 billion euros.

“First-quarter results provide a sound basis for our goal to exceed last year’s sales and operating-profit levels,” Audi Chief Financial Officer Axel Strotbek said.

Audi is maintaining its goal of dethroning BMW as the world’s largest automaker of luxury cars by 2015.

Audi plans on introducing a dozen new models this year as a part of its goal to bring the lineup to 42 percent vehicles by 2015.

– By: Omar Rana

Source: Automotive News (Subscription Required)