Audi calculates losses for the first half of 2020July 31, 2020
In the period from the beginning of January to the end of June, the German automaker’s operating loss amounted to 643 million euros.
The German manufacturer of premium cars Audi has summed up the financial results of the first half of this year. Like many others, the company suffered losses – its net revenue amounted to 20.48 billion euros, and the loss reached 643 million euros. The main reason for these indicators was the coronavirus infection, which led to a global crisis in the automotive industry as a whole.
At the same time, Audi is optimistic about the second half of the year, although they understand that it will be difficult to achieve positive values for the whole year. Representatives of Audi have already noted positive dynamics in the second quarter – the number of deliveries of new cars, although they decreased by 22% compared to the same result last year, but in the world market as a whole, this figure decreased by 28%. Audi’s conveyors were fully operational only by the end of June, so the manufacturer is entering the second half of the year with optimism.
A big help is the success of the electric crossover Audi e-Tron – in the first half of the year this model sold 16 898 units, which is significantly higher than last year’s figure of 9 444 units.
And in May, applications began for the Audi e-tron Sportback model. Also, the car market in China has almost completely recovered from the crisis – in May and June, sales there were at a very high level. The best-selling Audi models in China are the A6 L, Q2 L and Q5 L.
Previously, Volkswagen provided its financial report for the first half of 2020. Following the results of six months, the concern’s losses exceeded 1 billion euros. However, Volkswagen hopes to overcome the difficulties in the second half of the year, largely through the launch of the new ID line.
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