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

Reuters

05-05-2025

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.
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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)