Audi is up 28% - While Other Sales Flat or Declining
2009 Q5 - recently launched by Audi
FRANKFURT (Reuters) — Audi, the luxury unit of Volkswagen AG, reported on Monday first-quarter operating profit rose 28.2 percent to 514 million euros ($805 million) and stuck to its forecast for a full-year increase.
Revenue in the quarter declined by 4.4 percent to 8.29 billion euros due to the negative impact of currency exchange rates, it added in a statement.
“The increase in vehicle sales that the Audi Group is striving for, together with further productivity gains and process improvements, will be reflected in the group’s revenue and profitability numbers, which will again advance year on year,” Audi said in a statement.
It expects to rack up a 13th straight record year in terms of sales with over 1 million units delivered to customers versus 964,151 in 2007 thanks in part to the roll-out of its next generation mid-size A4 estate and the launch of the all new Q5 offroader and A3 Cabrio.
On Wednesday, parent group Volkswagen published preliminary first-quarter results that showed consolidated operating profit rose 21 percent to 1.31 billion euros, in line with market expectations.
A poll published before the results had forecast Audi’s contribution at 8.85 billion euros in revenue and 532 million in operating profit.