Audi reported sales for the first quarter of 2020

Audi reported sales for the first quarter of 2020

May 1, 2020 0 By autotimesnews

Amid the ongoing pandemic of the coronavirus, Audi summed up after the difficult first quarter of 2020.

Due to closed representative offices around the world, deliveries of Audi cars fell by 21.1% in the first three months of this year. Audi Group revenue was € 12,454 million, and operating sales margin was 0.1%. Despite the difficult economic conditions, the brand’s net profit amounted to about 1 billion euros.

Given the financial consequences of the COVID-19 pandemic, Audi has taken early countermeasures to protect its liquidity. In order to protect its employees and in response to demand and supply chain disruptions, production has been temporarily suspended worldwide.

Production in China has already largely normalized. Audi factories in Europe are gradually increasing production in accordance with the plan from the end of April. The Audi Group expects the pandemic to have a significant impact on the global economy and automotive markets throughout the year, and currently expects Audi’s core brand deliveries, revenue, and operating profit to be significantly lower than last year.

After production at Chinese plants was already resumed on February 17, 2020 and is now largely returning to normal volumes, European sites are gradually increasing their production from the end of April 2020. Comprehensive precautions have been taken to protect the health of employees.