logo
Audi posts Q1 sales increase helped by higher EV sales, confirms outlook

Audi posts Q1 sales increase helped by higher EV sales, confirms outlook

Reuters05-05-2025
May 5 (Reuters) - Volkswagen's premium brand Audi on Monday confirmed its full-year guidance with the caveat that any impact from U.S. tariffs was excluded, after its first-quarter revenue rose 12.4%, helped by higher sales of electric models.
Quarterly revenue rose to 15.43 billion euros ($17.49 billion) in the January-March period, compared with 13.73 billion a year ago.
Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.
The company confirmed its full-year outlook of 2025 revenue between 67.5 and 72.5 billion euros and an operating margin range of 7%-9%.
"Financial implications of import tariffs, particularly in the United States, cannot be conclusively assessed," Audi said, adding that implications of a March agreement between Audi's management and the works council were also not yet taken into account for the guidance.
While the company delivered 3.4% fewer vehicles globally in the first quarter of 2025, unit sales of electric cars rose 30.1%.
In North America, excluding Mexico, Audi's deliveries fell 2.1% to 48,599 vehicles, as many models there are due to be upgraded, the company said.
Deliveries in China fell 7% to 144,471 vehicles in the quarter, dragged by intense competition in the local market, the company added.
Like other European carmakers, Audi has been dealt a severe blow by the tariffs, which are expected to raise car prices by thousands of dollars and rattle an automobile sector already struggling with high costs and intensifying competition.
Audi is among the carmakers most exposed to U.S. import tariffs as it has no factory in the United States. It serves that market through a plant in San Jose Chiapa, Mexico, which makes the popular Q5 model and employs over 5,000 people.
($1 = 0.8824 euros)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Elon Musk 'ordered Starlink shutdown' during Ukraine counterattack
Elon Musk 'ordered Starlink shutdown' during Ukraine counterattack

The National

time4 hours ago

  • The National

Elon Musk 'ordered Starlink shutdown' during Ukraine counterattack

The billionaire's command allegedly led to a communications blackout while Ukrainian forces attempted to retake the port city of Kherson in the south of the country in September 2022. The communication blackout, where staff at the American tech firm deactivated at least 100 Starlink terminals after being instructed to, reportedly caused the attack to fail, according to Reuters, which spoke with three people who were familiar with the demand. According to reports, the blackout caused Ukrainian soldiers to panic as drones surveilling Russian forces went dark, and long-range artillery units, reliant on Starlink to aim at their targets, struggled to hit them. READ MORE: 'He belongs in The Hague': Keir Starmer fiercely criticised over Gaza speech Although Ukrainian forces were able to reclaim Kherson, the incident was reported to have damaged the country's trust in the technology, along with shocking Starlink employees. One of the three people who were familiar with the instruction claimed it enabled Musk to take 'the outcome of a war into his own hands'. The Tesla-owner reportedly grew concerned that Ukrainian forces' advancements could provoke nuclear retaliation from Vladimir Putin. A spokesperson for SpaceX, the aerospace company that owns Starlink, told Reuters the reporting of the incident is 'inaccurate'. In March, Musk posted on his social media platform, X/Twitter: 'To be extremely clear, no matter how much I disagree with the Ukraine policy, Starlink will never turn off its terminals.' Starlink, which went live in 2019, is a satellite company that beams data across its network and is the world's largest satellite operator. It provides customers with internet access in remote and unreliable locations and has a network of around 8000 satellites in orbit. It has been a key tool in Ukraine's defence, as Musk has provided the country with more than 50,000 Starlink terminals during the war. The network has allowed Ukrainians to speak to relatives across the world, and President Zelensky uses the network to transmit broadcasts to the nation. It is also used by Ukrainian forces on the battlefield to communicate and is used to guide drones and long-range artillery units.

Allianz Life says 'majority' of customers' personal data stolen in cyberattack, TechCrunch reports
Allianz Life says 'majority' of customers' personal data stolen in cyberattack, TechCrunch reports

Reuters

time7 hours ago

  • Reuters

Allianz Life says 'majority' of customers' personal data stolen in cyberattack, TechCrunch reports

July 26 (Reuters) - U.S. insurance giant Allianz Life said that hackers stole the personal information of the "majority" of its customers, financial professionals, and employees during a mid-July data breach, TechCrunch reported on Saturday. The report, citing a filing with Maine's attorney general, did not immediately provide the number of customers affected. Reuters could not immediately verify the report.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store