Automaker Audi achieved an after-tax profit of 95 million euros in the third quarter. Compared to the same period last year, this is a decline of 87 percent. The result means that the Volkswagen subsidiary came close to a loss. Sueddeutsche Zeitung ↗
Among the factors behind the sharp deterioration in business performance are weak sales in China and a steep drop in demand. Audi is facing a broader crisis in the automotive industry, which is increasingly affecting its results. At the same time, the automaker expects its business to recover in the coming period. Spiegel.de ↗
Following the unfavorable results of the first nine months, Audi significantly lowered its forecast for the full year. The company will thus have to respond to continued pressure on sales as well as weaker results in key markets. Die Zeit ↗
This development has sparked criticism of the group's CEO, Döllner. However, the available data do not indicate what specific measures management is preparing, nor by what deadline the expected recovery might materialize. In the coming quarters, Audi will primarily be watching the development of demand in China and its ability to improve overall profitability. n-tv ↗
Audi's third-quarter profit fell by 87 percent
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