Success for Audi Group despite challenging environment

Worldwide
Published:  04 November, 2022
Credit: Bentley

The Audi Group of premium automotive brands achieved a revenue increase of 10.4% in the first three quarters of 2022 despite significant challenges.

Revenue for the year so far was €44.6 billion while operating profit came in at €6.2 billion and operating margin was 14%.

Audi Group is owned by Volkswagen Group and is comprised of Audi, Bentley, Lamborghini, Ducati and Italdesign. The group was a key driver for Volkswagen’s third quarter results.

The brand group has delivered 1,212,275 vehicles in the first nine months of 2022, a decline year-on-year of 10.5%, which was attributed to supply bottlenecks and logistics challenges.

However, Audi alone increased deliveries by almost 12% in the third quarter while Lamborghini set a new delivery record in the first nine months of the year, up by 7.6% to 7,430 vehicles. Meanwhile, Bentley increased global customer deliveries in 2022 so far by 3.5% to 11,316 vehicles.

Lamborghini also improved revenue in the period by 30.1% to €1.93 billion, with Bentley up by more than double year-on-year to €575 million.

Audi also continues its electrification strategy, increasing battery electric vehicle (BEV) share for the brand group as a whole by 6.4% in 2022 so far, while deliveries of BEVs from the Audi brand were up by 45% year-on-year to 76,989 vehicles. Audi plans to switch exclusively to electric vehicles from 2026.

For the full 2022 financial year, the Audi Group is now expecting customer deliveries of around 1.65-1.75 million vehicles, with sales revenue of around €60-63 billion.