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Monday, 2 November 2015
Audi announces results for the first three quarters of the year, with Q3 showing a decline as "Diesel Gate" hits.
The Audi Group is progressing systematically along its growth path: In the first nine months of this year, the company increased deliveries of its core brand by 3.8 percent. From January through September, more than 1.3 million customers received an automobile with the Four Rings. Revenue increased to €43.7 billion and operating profit rose to €4.0 billion. The operating return on sales for the first three quarters of the year was 9.2 percent.
At the announcement of the interim results for the third quarter, Rupert Stadler, Chairman of the Board of Management of AUDI AG, stated: “We are continuing along our growth path.”
He believes that the company’s performance in the first nine months of this year proves that the Audi Group’s strategy is paying off. “We are increasing our deliveries, expanding our international production network, safeguarding jobs and actually continuing to recruit more employees.”
In 2016, Audi will also put a completely new production plant into operation in San José Chiapa, Mexico.
Axel Strotbek, Member of the Board of Management of AUDI AG for Finance and Organization, commented on the first nine months of this year: “Audi achieved good earnings in a challenging environment despite high levels of advance expenditure.”
Following the successful start of the new premium SUV, the Audi Q7, the company will now bring the next generation of its bestseller, the new Audi A4 and A4 Avant, into the dealerships, thus continuing the success story of the Ingolstadt‑based automobile manufacturer.
In the first nine months of this year, the company delivered 1,347,972 automobiles of the Audi brand to customers – a plus of 3.8 percent (2014: 1,298,638).
The Audi Group achieved total revenue for the period of €43,695 million (Q1‑Q3 2014: €39,300 million).
Revenue was boosted in particular by strong demand for SUV models as well as by growth in North America and Western Europe.
The Audi Group’s operating profit for the period of January through September increased by 5.0 percent to €4,024 million (Q1‑Q3 2014: €3,831 million), primarily due to the positive development of deliveries.
Earnings were negatively impacted by further increases in advance expenditure for new models and innovative technologies and the ongoing expansion of the worldwide production network. The operating return on sales for the first nine months is 9.2 percent (Q1‑Q3 2014: 9.7 percent).
In the first three quarters of this year, the Audi Group achieved profit before tax of €4,249 million (Q1‑Q3 2014: €4,568 million), resulting in a return on sales before tax of 9.7 percent (Q1‑Q3 2014: 11.6 percent). Net profit amount to €3,284 million (Q1‑Q3 2014: €3,435 million).
From July through September 2015, the brand with the four rings delivered 445,642 automobiles to customers (Q3 2014: 429,281). The Audi Group achieved third‑quarter revenue of €13,911 million (Q3 2014: €12,610 million) and an operating profit of €1,110 million (Q3 2014: €1,160 million).
In addition to investing in new international production facilities, the company is also preparing numerous generation changes for important models and markets, equivalent to approximately 40 percent of worldwide unit sales. Against this backdrop, the operating return on sales for the third quarter was 8.0 percent (Q3 2014: 9.2 percent).
In full‑year 2015, the company plans to deliver more automobiles of the Audi brand than in the previous year. The targeted volume growth will result in higher revenue for the Audi Group. Furthermore, the company once again aims to achieve an operating return on sales within the strategic target corridor of eight to ten percent.