Audi starts off with an impressive performance
High demand for electric models and strong sales growth
The Audi Group started 2023 with strong delivery figures in nearly all core regions. In the first quarter, the brand group delivered some 422,000 Audi, Bentley, and Lamborghini vehicles – around 8 per cent more than in the same period last year. The improved supply situation for semiconductors allowed the company to better meet the high demand for Audi models, in Europe and the USA in particular. Revenue increased to €16.9 billion. The operating profit climbed to €1.8 billion, while the operating margin of 10.8 per cent was at the upper end of the strategic target corridor. The 43 per cent increase in deliveries of electric cars demonstrates that the brand group is on the right track. In the company’s ongoing electrification journey, Audi has picked up considerable speed: In the largest model offensive in Audi’s history, the brand has announced the launch of around 20 new models between late 2023 and late 2025, more than ten of which will be all-electric.
The entire brand group started 2023 with a strong first quarter. With 421,824 vehicles delivered (Q1 2022: 390,826), the Audi, Bentley, and Lamborghini brands delivered 7.9 per cent more cars than the previous year’s figure. Thanks to the improved supply situation for semiconductors, the Audi brand delivered 415,684 (Q1 2022: 385,084) vehicles to customers worldwide.
In the first quarter, the brand group picked up the pace of implementing its e-roadmap, delivering 34,584 (Q1 2022: 24,236) electric cars, an increase of around 43 per cent above the previous year’s figure. The share of electric vehicles delivered rose significantly from 6.2 to 8.2 per cent.
Audi CEO Markus Duesmann: “We increased deliveries of all-electric models in the brand group by 43 per cent. This shows how attractive our electric portfolio already is. And with the largest model offensive in Audi’s history, starting with the Q6 e-tron in the second half of the year, we are providing the right response to the accelerated trend toward electric mobility.”
The delivery figures also resulted in a strong boost in sales in the opening quarter. Revenue climbed 18.2 per cent to €16,883 (Q1 2022: 14,282) million, whereby the all-electric Audi Q4 e-tron and Audi e-tron GT Quattro as well as the Audi Q5 and Audi Q7 were the main contributors to this increase. The share of EU taxonomy-aligned revenue rose again, reaching 14.5 (Q1 2022: 11.3) per cent.
