CFO Jürgen Rittersberger: “2024 will be a year of transition for Audi. Among other things, the first quarter was characterized by an ongoing strained supply situation. At the same time, we’ve initiated the right measures to achieve our financial goals.” CEO Gernot Döllner: “With our strong team, highly attractive new models and a clear agenda, we’re positioning ourselves for the future.” Revenue reached €13.7 billion in the first quarter of 2024, operating profit was €466 million and net cash flow was €-768 million
2024 will be a demanding year for the Audi Group. The challenging market environment and supply bottlenecks, especially for V6 and V8 engines, had a particularly negative impact on operating profit in the first quarter of the year. The company also has to manage numerous product ramp-ups. Revenue reached €13.7 billion in the first quarter of the year, while operating profit amounted to €466 million. The operating margin was 3.4 percent. In the first three months of the year, the Brand Group Progressive delivered 402,048 automobiles to customers – a decline of 4.7 percent. The demand for fully electric models, however, increased by 3 percent. Audi registered a significant increase of 13.7 percent in China, with 156,082 models delivered.
“As expected, 2024 will be a year of transition for us,” said Audi CFO Jürgen Rittersberger. “This can especially be seen in the first quarter, which was characterized by a strained supply situation, among other things. Moreover, model initiatives like the one Audi is currently launching are always associated with high preliminary expenditures in the beginning. However, we’re pursuing a clear plan and have implemented a multitude of measures through our Performance Program 14 that will take effect over the course of the year and help us achieve our financial goals for this year.”
New market-specific Audi models including the Q6L e-tron to debut on all-electric booth at the international auto show in Beijing Strategic insight into the brand’s activities on the Chinese market shared at Audi press conference and Volkswagen Group Night by Audi CEO Gernot Döllner The strategic importance of Chinese market to Audi is apparent through the local production of vehicles based on the Premium Platform Electric (PPE)
Ahead of Auto China 2024 in Beijing, Audi is poised to showcase its strategy and all-electric portfolio for the world’s largest automotive market. With them, the brand with the four rings is strengthening the foundation for continued success in the country. Highlights at the booth include the world premiere of the Audi Q6L e-tron, set to be produced at the new Audi FAW NEV Company factory in Changchun. At Volkswagen’s Group Night and at an Audi press conference on opening day, Audi will also outline its further roadmap for the electric transformation of its offering in China.
Audi is set to make a bold statement with a number of new models when Auto China 2024 opens on April 25. The vehicles and variants showcased at the Audi booth highlight the company’s continued focus on serving the Chinese market’s specific requirements. The fact all vehicles on display will be fully electric also demonstrates that Audi remains committed to meeting the growing demand for new energy vehicles in China. Volkswagen Group Night and Audi booth to feature world premieres The exterior of the new Audi Q6L e-tron is set to be unveiled at the Volkswagen Group Night on April 24. The Q6L e-tron will be shown for the first time at Auto China from April 25 to May 4, as will the Q5e-tron RS edition for the Chinese market. Additionally, the SQ6 will make its first appearance in the country.
At AUDI AG’s Annual Media Conference, CEO Gernot Döllner and CFO Jürgen Rittersberger presented and assessed the financial result for the 2023 fiscal year. They also offered a glimpse of the numerous models to be launched over the next two years and provided information on the company’s strategic focus. Their key statements at a glance:
Gernot Döllner: “The Audi Q6 e-tron, which celebrated its world premiere last night, marks the first time electric mobility is coming from Ingolstadt.” “The Audi Q6 e-tron is the start of an extensive product initiative that we will use to rejuvenate our portfolio over the coming years. We are planning more than 20 new models in 2024 and 2025, including the presentation of the Audi A6 e-tron in the summer of 2024 and the new generation of the Audi A5 and Q5 as the first models on the new Premium Platform Combustion (PPC) in the second half of the year.” “Despite the recent public debate, there is no doubt the future of the car is electric. At Audi, we will electrify all core segments by 2027 and have defined a fully electric target portfolio. In addition, the transitional period will require starting off with highly efficient combustion-engine models and plug-in hybrids. With the models that are coming now, we are well positioned and able to actively respond to a range of customer requirements.” “The 50 percent increase in electric vehicles delivered in 2023 confirms our path toward electric mobility.” “We are experiencing rapid transformation in the automotive industry. Technological revolutions, new competitors, and a difficult global economy are challenging all established car manufacturers.” “We can shape the transformation from a position of strength.
Suitability for everyday use confirmed: a Paralympian and a wheelchair user test the Audi charging hub The Audi Q4 e-tron model family offers driving aids from the factory Ample room between charging stations and adjustable and lightweight equipment are decisive factors for easy use
When creating infrastructure for electric vehicles, it is important to remember people with mobility requirements. Audi brand ambassador Gerd Schönfelder, the most successful Winter Paralympian of all time, and Audi driver Uwe Herrmann have clear ideas on what charging without barriers and disability-friendly vehicle modifications should look like. Schönfelder lost his right arm and shoulder in an accident at the age of 19, while Hermann has been using a wheelchair since adolescence. While Schönfelder has been driving an Audi Q4 e-tron for the past 18 months, Herrmann (still) drives an Audi with a gasoline engine and is curious to hear about Schönfelder’s experiences. At the opening of the sixth Audi charging hub in Frankfurt am Main, the two men met up for a chat.
Gerd Schönfelder: Public charging stations must be accessible for all electric car drivers, including people with mobility needs. With its barrier-free features like the swivel arm and the height-adjustable display, the Audi charging hub is a great place for people like us with disabilities to charge their cars in a comfortable environment quickly. In my opinion, however, everybody benefits from the barrier-free concept at this charging facility. Uwe Herrmann: I’m still driving a car with a gasoline engine, but everything I’ve heard about e-mobility to date sounds positive. And the Audi charging hub looks promising, too. Sometimes, I have to ask for help filling up my current Audi SQ5 when the car is in an awkward position. But that could soon change with an electrically powered Audi at a charging point like this.
The Q6 e-tron* is the next technological leap in electric mobility from Audi.” CFO Jürgen Rittersberger: “Audi has the financial strength to succeed even in times of technological change and more intense competition.” Revenue increases to €69.9 billion, operating profit to €6.3 billion, net cash flow nearly on par with previous year at €4.7 billion
The Audi Group has achieved a solid result in the 2023 fiscal year under challenging economic conditions. Revenue rose by 13.1 percent to €69.9 billion, the operating profit was €6.3 billion, and the operating margin was 9.0 percent. Net cash flow was nearly on par with the previous year at €4.7 billion. With numerous new models, Audi will significantly strengthen and expand its product portfolio in the coming years: The world premiere of the fully electric Audi Q6 e-tron*, the first model on the new Premium Platform Electric (PPE), heralds a series of product launches. More than 20 new models are planned for 2024 and 2025.
“We are positioning ourselves for the future economically, technologically, and strategically, and we are putting our new products on the street one by one,” says Gernot Döllner, CEO of AUDI AG. “The basis is a binding agenda focused on our key areas of activity: financial performance, excellent products, and a flexible and agile corporate structure. In this way, we are accelerating the transformation in a challenging economic environment.” Deliveries: growth in all core regions Within the Audi Group, Audi, Bentley, Lamborghini, and Ducati pool their expertise in the Brand Group Progressive**. In fiscal year 2023, the brand group delivered 1,918,912 (2022: 1,638,638) cars and 58,224 (2022: 61,562) motorbikes to customers. With deliveries of 1,895,240 cars, the Audi brand achieved an increase of 17.4 percent over the previous year due to high demand and the improved supply situation. Audi saw strong growth in its core markets of Europe, China, and North America.
Good sales performance in Europe, the USA, and China Around 178,000 fully electric vehicles delivered Audi CEO Gernot Döllner: “Robust starting position for a challenging year in 2024”
Audi delivered around 1.9 million cars in 2023. Deliveries of more than 178,000 fully electric vehicles resulted in an increase of 51 percent compared to 2022. The high demand serves as a robust foundation for a challenging year of transformation with a clear focus on electromobility: One next important step will be the world premiere of the Audi Q6 e-tron at the end of the first quarter of 2024.
“Audi is a strong brand with a clear focus on an electric future,” says Audi CEO Gernot Döllner. “The high demand for our models serves as a robust starting point for the new year. At the same time, we recognize that 2024 will be a challenging year due to increased competition and global economic uncertainties. This makes it all the more important to follow a clear plan that addresses these challenges and focuses on the profitability of our vehicles. In 2024 and 2025, we will also strengthen and rejuvenate our portfolio with numerous new models. The focus will be on our groundbreaking electric cars. We are also giving the brand a robust positioning for the coming years with an entirely new generation of combustion engine models and plug-in hybrids.” In 2023, Audi increased deliveries in all world regions and showed higher growth than the overall market. The strong growth in demand for fully electric models, in particular, confirms the company’s consistent electrification strategy.
Good sales performance in Europe, the USA, and China “We were able to increase deliveries in 2023 by more than 17 percent”, says Hildegard Wortmann, Member of the Board of Management for Sales and Marketing at Audi. “This was made possible thanks to the efforts of our international team and our dealership partners worldwide – thank you for your impressive performance!
The manufacture of the Audi Q6 e-tron series is a collaboration across locations. The electrically powered SUV marks the first time the brand with the four rings has produced an all-electric Audi model at its headquarters in Ingolstadt. Audi is building the electric motors for the premiere Premium Platform Electric (PPE) model in Győr, Hungary. In this interview, Siegfried Schmidtner, plant manager in Ingolstadt, and Alfons Dintner, Chairman of the Board of Management of Audi Hungaria, discuss the collaboration between the two sites, the mood among employees in the light of the company’s ongoing transformation, and the future prospects for Ingolstadt and Győr.
Mr. Schmidtner, what’s the attitude of the workforce in Ingolstadt toward the upcoming shift to electric mobility? Siegfried Schmidtner: Our employees are key to the transformation; I observe daily that they are incredibly positive and motivated by the shift. There is a palpable sense of optimism. We’ve been working hard to prepare for the transformation to electric mobility – so we’re ready to get going. Electric mobility represents a tremendous opportunity for Ingolstadt. We will be the pioneer for the Premium Platform Electric and the new E3 electronics architecture. We’re proud to play a vital role in shaping the company’s transformation. What challenges do Győr and Ingolstadt face in view of the impending changes? Alfons Dintner: Győr has been manufacturing for 30 years. The site has successfully handled numerous model launches, so it is prepared for the transformation, the changeover, and the zeitgeist. The people who work here have been with the company for a long time and are therefore very experienced. In addition, Audi Hungaria doesn’t only build engines but also entire vehicles. It has its own technical development department, in-house toolmaking shop and offers services to the whole Volkswagen Group.
Unmistakable design with new details makes for impressive street presence Headlights and rear lights customizable for the first time thanks to digital lighting technology The variable interior concept offers the ideal basis for family, business, and free time
Audi has once again upgraded its flagship family SUV with a clear design and even better technology. The fresh exterior design with new front and rear sections underscores the powerful character of the SUV, which offers first-class versatility and generous space for up to seven passengers. For the first time in a Q7, the HD Matrix LED headlights with laser as an additional high beam feature digital daytime running lights with selectable light signatures. Digital OLED rear lights with four selectable rear light designs complete the light offering. New wheels, colors, decorative inlays, and seats with contrasting stitching lend the Q family’s most versatile SUV an even higher level of customizability. The new Audi Q7 starts at 79,300 euros.
From a study to a successful production model The Audi Q7’s journey of success began in 2003 as a concept car called the Audi Pikes Peak quattro at the North American International Motor Show. Conceived as a vehicle suitable driving on all roads and moderate off-road use, the current Q7 – which has been delighting customers worldwide for 18 years – remains true to its virtues of design, technology, and functionality. The first SUV from the brand with the four rings was unveiled to the public at the 2005 Frankfurt Motor Show (IAA), just in time for the 25th anniversary of the quattro permanent four-wheel drive with Torsen center differential (40:60 front/rear torque distribution). The new “superlative” in the SUV segment, as Audi put it at the launch of the Q7, combines poise, sportiness, and versatility. Since its launch, the Audi Q7 is seen as an all-rounder that combines high prestige with a wide range of applications.