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Audi: 'Best year in history'

2008-03-12 07:31
Audi AG has released its financial results for 2007, which reflected record figures for production, vehicle sales, revenue and profit.

"We're looking back on the most successful fiscal year in the history of our company," said Rupert Stadler, chairman of the board of management of Audi AG, at the Annual Press Conference held in Ingolstadt on Tuesday.

"We have achieved the twelfth consecutive record year for vehicle sales and we were able to increase all of the key financial figures to new record levels."

The group realised an increase in vehicle sales of 5.7% with a new record sales revenue of 33 617 million euros - in increase of 7.9%.

Helped by model mix

The success has been partly attributed to a desirable model mix through the sale of vehicles such as the Q7, TT, R8 and the new A5 coupe that launches in South Africa shortly.

A new best figure was reported for profit before tax. The 2 915 million euros represents an increase of 49.8%, while profit after tax at 1 692 million is up by 26%.

Compared with the previous year's 905 188 units sold, 964 151 Audis were sold globally in 2007. This reflects an increase of 6.5%. The brand also recorded record results in more than 50 markets.

And while the manufacturer managed to largely maintain its market share in Germany and Western Europe, China was Audi's the biggest export market.

Including Hong Kong, 101 996 units were sold in 2007, an increase of 24.8% over the 81 708 units sold in 2006.

Subsidiary Lamborghini recorded growth of 15%, selling a total of 2 406 super cars during 2007.

2008 and beyond

But Audi AG, which claims to be one of the most profitable companies in the international automotive industry, also predicts positive growth in 2008 and beyond. Global sales in January were already up by 4.7% and February saw a rise of 2.6%.

"We are on course to exceed the million mark for vehicle sales this year. We are going to consistently follow our path of profitable growth," Stadler said.

In the future, the manufacturer plans to offer an "efficiency model" in all its high-end ranges and will focus on improving its TDI technology.

"Our TDI will become the cleanest diesel in the world this year, and will achieve this through our ultra low emission system (which will reduce nitric oxide emissions by up to 90%)," Stadler said.

"With systems like this, we will play an active part in shaping the future of the automotive industry."

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