Audi’s profits down by 33% amid weak demand, Chinese price wars
Dark clouds can be seen behind flags with the Audi logo in front of the Audi Forum.Credit: Daniel Löb/dpa
German luxury automaker Audi on Tuesday posted a sharp 33% drop in after-tax profits for 2024, falling to €4.2 billion ($4.6 billion).
German luxury automaker Audi on Tuesday posted a sharp 33% drop in after-tax profits for 2024, falling to €4.2 billion ($4.6 billion).
This is second significant decrease in a row for the Volkswagen subsidiary. It reflects declining business fortunes across the Audi group which includes brands such as Bentley, Lamborghini and Ducati.
Audi is responding to its current difficulties with thousands of job cuts, which the firm's leadership announced on Monday.
Last year Audi - like many other car manufacturers - suffered from weak demand...