China and other markets promote Audi's third-quarter profit increase by 55.6%

Audi, a luxury car manufacturer, announced that its profit growth in the third quarter exceeded 50% driven by strong demand from markets such as China and the United States.

In the third quarter of this year, Audi's operating income increased by 30% year-on-year to 10.9 billion euros from the previous year's 8.4 billion euros; the amount of profits rose 55.6% year-on-year, from last year's 900 million euros to 1.4 billion euros. Audi's operating margin improved from 11.1% last year to 13.1%. The operating profit for the first three quarters surged 74% year-on-year to 39.6 billion euros. Audi CFO Axel Strotbek pointed out that the total operating profit for the first three quarters of this year has exceeded the full-year level of 2010.

In terms of sales volume, Audi's global sales volume reached 320,300 units in the third quarter, up 17% year-on-year, mainly driven by the Chinese and US markets. The demand for Audi A6 and Q5 SUVs has been a major growth driver. In the first three quarters of the year, it increased by 17% year-on-year to 973,200 units. The increase in the Chinese market and the U.S. market was 29% and 15%, respectively.

At present, all regional markets in Audi have achieved growth except Western Europe. Although some markets have slowed, the company still maintains its 1.3 million annual sales target.