Luxury automaker Audi announced record profits for the 2022 fiscal year, despite facing multiple crises. The company reported operating profit rose nearly 40% to €7.6 billion while revenue increased to €61.8 billion, up 16.4% from the previous year. The operating margin rose from 10.4% to 12.2%. The financial success was attributed to crisis management, good pricing, and strong results from Bentley, Lamborghini, and Ducati brands. The number of fully electric models delivered also increased sharply.
In the coming year, Audi is set to launch the largest product campaign in its history. It will begin with the Q6 e-tron model series, the first electric model based on the Premium Platform Electric (PPE). Audi CEO Markus Duesmann said the company’s Vorsprung 2030 strategy, which focuses on sustainability and digitalization, provides the right answers even in times of crisis.
Despite supply chain challenges, the Audi brand group delivered 1,614,231 cars in 2022, almost the same as the previous year. The company saw significant growth in deliveries of fully electric models, with a 44% increase in deliveries of fully electric cars. The company also reported record-level revenue due to its strong price position and the one-off consolidation of the Bentley brand. Audi aims to increase the share of recycled materials in its fleet over the next few years and is obtaining a comprehensive ESG rating from an independent rating agency.
