Audi Group: Strong Growth and Increased Delivery Figures
The Audi Group has achieved remarkable success in the first nine months of the year, with significant growth in delivery figures and impressive financial performance. This article will delve into the key highlights of Audi’s progress, including increased deliveries, revenue growth, and the success of their electrification strategy. We will also explore Audi’s performance in different global markets, particularly in Europe, the USA, and China.
Audi Group’s Delivery Figures and Revenue Growth
In the first three quarters of the year, the Audi Group delivered approximately 1,405,000 vehicles, representing a remarkable 16 percent increase compared to the same period last year. This growth was driven by strong performance in the USA and Europe. Audi’s revenue also saw a significant rise, reaching €50.4 billion, a 13 percent increase from the previous year. The operating profit stood at €4.6 billion, with an operating margin of 9.1 percent, well within the target corridor.
Audi’s success in the electric vehicle market is particularly noteworthy. They delivered over 123,000 electric vehicles, marking a significant increase of 60 percent compared to the same period last year. The Audi Q4 e-tron played a significant role in this growth, accounting for a substantial share of the increase. The brand’s commitment to electric mobility is evident in the rising share of electric vehicles in their overall deliveries, which now stands at around 9 percent.
Strong Growth in Delivery Figures
Audi’s delivery figures for the first three quarters of 2023 demonstrate significant growth and a strong market presence. The Progressive brand group, including Audi, Lamborghini, and Bentley, delivered a total of nearly 1,405,000 cars to customers, representing a 16 percent increase compared to the same period last year. Audi alone delivered over 1,387,000 vehicles, marking a 16 percent increase. The month of September was particularly strong, with Audi delivering more than 175,000 vehicles, a 24 percent increase compared to September 2022.
The success of Audi’s electric vehicles is evident in the delivery figures as well. With over 123,000 electric vehicles delivered in the first three quarters, Audi achieved a remarkable growth rate of 60 percent. In September alone, the growth reached an impressive 77 percent year on year. The Audi Q4 e-tron played a significant role in this growth, with a substantial increase of 162 percent.
Growth in Different Markets
Audi’s growth in delivery figures was not limited to a specific region but was spread across various global markets. In Europe, Audi witnessed a substantial increase in deliveries, with a remarkable growth rate of 24 percent. The home market of Germany played a significant role in this performance, with Audi delivering almost 185,000 cars, a 20 percent increase compared to the same period last year. The growth in electric vehicles in Europe was also notable, reaching 24 percent.
In the United Kingdom and Italy, Audi delivered 30 percent more vehicles compared to the previous year. This growth reflects the brand’s strong presence and popularity in these markets.
Audi’s performance in the USA was equally impressive, with a delivery increase of over 26 percent. The brand made significant gains in the electric vehicle segment, with deliveries rising by 48 percent. In the third quarter alone, the growth rate reached an outstanding 93 percent.
China, a crucial market for Audi, witnessed growth of more than 5 percent in the first three quarters of 2023. In September, Audi delivered over 72,000 cars, a 25 percent increase compared to the same period last year. The growth rate in the third quarter exceeded 10 percent.
The Audi Group’s financial performance in the first three quarters of 2023 reflects its solid development and growth. Revenue increased by 13.1 percent, reaching €50,390 million. The share of EU taxonomy-aligned revenue rose to 15.7 percent. The operating profit reached €4,595 million, with an operating margin of 9.1 percent. It is worth noting that the decrease compared to the previous year is primarily due to negative effects of raw material hedging transactions, amounting to €1.1 billion.
Lamborghini, a part of the Audi Group, delivered 7,744 cars in the first three quarters of the year, marking a growth of 4.2 percent. Sales also grew by 5.2 percent, reaching €2,026 million, with an impressive operating margin of 30.5 percent.
Bentley, another brand under the Audi Group, delivered 10,053 vehicles in the same period. Sales reached €2,309 million, and the operating profit stood at €506 million, with an operating margin of 21.9 percent.
Ducati, known for its motorcycles, delivered 47,867 units in the first nine months of the year. Sales slightly increased to €877 million, and the operating profit rose by 28.1 percent, reaching a strong €140 million. The operating margin increased to 15.9 percent.
Forecast for 2023
Based on their performance in the first nine months, the Audi Group confirms its forecast for the full year. They expect deliveries between 1.8 and 1.9 million vehicles, with revenue ranging from €69 to €72 billion1. The anticipated operating return on sales is expected to be at the lower end of the range of 9 to 11 percent1. The net cash flow is expected to be at the lower end of the forecast range of €4.5 billion to €5.5 billion1. The ratio of research and development costs is expected to be moderately above the 6-7 percent corridor1. The corridor for return on investment has been adjusted to 17-20 percent1.
The Audi Group’s strong growth and increased delivery figures in the first nine months of 2023 demonstrate their commitment to innovation and customer satisfaction. With a significant rise in deliveries, particularly in the electric vehicle segment, Audi has showcased its strength in the market. The brand’s solid financial performance, especially in revenue growth, is a testament to their strategic initiatives and focus on sustainable mobility. With a positive outlook for the rest of the year, Audi is poised for continued success in the global automotive market.