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Audi: record profit as 'biggest product initiative' in its history gets underway

Audi Group CEO Markus Duesmann   Even as the Audi Group (VOW.DE), VW’s luxury division, is in the midst of a huge EV transformation it still needs to perform where it counts — the bottom line. And so it is doing just that.  On Thursday the Audi Group - which is dominated volume-wise by Audi, but also includes Bentley, Lamborghini, and Ducati - posted record revenue and operating profit in 2022. That shouldnÂ’t be a surprise given what the industry has been seeing at the highest end of the market - record performances despite macroeconomic jitters across the globe. But that it's happening as the group is noteworthy.  “We are on the verge of the biggest product initiative in our history,” Audi Group CEO Markus Duesmann said at a news conference earlier on Thursday. “By 2025, we will have launched around 20 new models, more than 10 of which will be all-electric. We have set the course to go 100% electric. By 2027, we seek to offer an all-electric vehicle in each core segment.”   This is all part of Audi GroupÂ’s Vorsprung 2030 plan, which seeks to have all of the groupÂ’s new models be electric by 2026 — and to end traditional gas-powered engine production by 2033. To that end, the group saw EV deliveries jump 44% (in 2022) compared to 2021 to over 118,000 vehicles, with the share of EVs rising to 7.2% from 4.8% in the prior year. Audi is also launching its first EV using the PPE (premium platform electric), which was developed together with Porsche. That EV, the Audi Q6 e-tron, will be unveiled later this year. (Past Audi EVs shared corporate parent VWÂ’s electric platform.) “With the Audi Q6 e-tron, e-mobility is coming from Ingolstadt (Audi HQ) for the first time,” Duesmann said in a statement. “To this end, weÂ’re also building a dedicated battery assembly facility on site. This will enable us to retain important know-how here in Germany and train our employees in future fields.” AudiÂ’s German rivals of course are also leaning in hard on their EV transformations. That makes it all the more important that Audi get its EV strategy right—and launched in a timely manner.

Audi's 2025 goal for 25% EV sales? It's already happening

We were pleasantly surprised by Audi's full-throated support for plug-in vehicles at the recent Los Angeles Auto Show. That support took the form of the surprising claim that between 20 and 25 percent of new Audis sold will have a plug by 2025. The encouraging electric love fest continues in a new press release that's all about the brand's European sales. Now, US sales of the A3 E-Tron will start at some point in the next two months, so we don't know how the excellent plug-in hatch will fare here but as you can see, things are going extremely well in Europe: A year after its market introduction, the sales figures for the Audi A3 e-tron are also extremely encouraging: In Western Europe, it conquered top spot among the electric cars in the premium compact segment over the past few months. In Norway and the Netherlands one in four Audi customers is already opting for an A3 e-tron. So, after being available for 12 months across the pond, the numbers are impressive. Perhaps Audi of America CEO Scott Keogh knew that the 25 percent threshold is already a reality in two countries when he spoke to us in LA. In any case, Audi's got something to point to today when people ask if selling 25 percent of its cars as EVs is possible. If you'd like to add your dollars to Audi's plug-in sales figures, the A3 E-Tron's configurator is live. AUDI AG: European sales up six percent in November Audi remains on track: With around 147,750 deliveries (+1%) in November, the company reaffirmed its strong sales result from the prior-year month. In Europe, the Ingolstadt-based carmaker increased sales by 6 percent to around 62,300 units, despite the model changeover for its bestseller, the Audi A4. Since the start of the year, more than 1.64 million customers worldwide have chosen the brand with the four rings, up 3.4 percent. "In light of extraordinary effects in China and the model phase-out for the first-generation Q7 in the United States, we are satisfied with our sales performance in November," says Dietmar Voggenreiter, Member of the Board of Management for Sales and Marketing at AUDI AG. "The sustained high demand for Audi models in Europe and our good global order situation continue to provide momentum for the months ahead." Most recently, the brand's growth in Europe was driven particularly by the latest models: Sales of the Audi Q7, with the latest generation launched in summer, quadrupled to around 3,300 units in November.

Germany says nein to EU ban on new fossil-fuel cars from 2035

BERLIN (Reuters) - Germany's government will not agree to European Union plans to effectively ban the sale of new cars with combustion engines from 2035, Finance Minister Christian Lindner said on Tuesday. In its bid to cut planet-warming emissions by 55% by 2030 from 1990 levels, the European Commission has proposed a 100% reduction in CO2 emissions from new cars by 2035. That means it would be impossible to sell combustion engine cars from then. European Parliament lawmakers backed the proposals this month, before negotiations with EU countries on the final law take place. Speaking at an event hosted by Germany's BDI industry association, Lindner said there would continue to be niches for combustion engines so a ban was wrong and said the government would not agree to this European legislation. Lindner, a member of the pro-business Free Democrats, which shares power with the Social Democrats and Greens, said Germany would still be a leading market for electric vehicles. (Reporting by Christian Kraemer; Writing by Madeline Chambers; Editing by Miranda Murray and Edmund Blair) Green Government/Legal Green Audi BMW Mercedes-Benz Volkswagen Opel SEAT Skoda