Audi Repeats 8%-10% Profit Margin Goal Despite Higher Costs


BERLIN, Nov 4 (Reuters) - Germany's Audi reaffirmed a goal to achieve an operating profit margin "at the upper end" of a 8-10 percent target range this year despite higher spending on models, technology and factories.

The Volkswagen-owned luxury division also stood by a goal to increase sales to over 1.5 million cars and sport-utility vehicles this year which would be a new record.

"We are making high upfront expenditures and investments now and in upcoming years in order to create an even stronger global position for Audi," finance chief Axel Strotbek said in the carmaker's quarterly earnings statement published on Monday. (Reporting by Andreas Cremer; Editing by Harro ten Wolde)



Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×