Audi’s CEO expects to significantly break last year’s record image

Rupert Stadler, buoyed by the performance half way through the year of the luxury brand, expects Audi to “significantly” exceed 2013’s record global sales.

The carmaker’s boss actually finally set up a target for the Volkswagen AG premium division, after officials only said that their sales goal was to exceed the figures of 2013 – global sales of 1.57 million vehicles.

“We will significantly exceed 1.6 million units this year,” said Audi’s CEO Rupert Stadler in an interview with Reuters. “Premium business is doing better amid the rather tense market situation because it’s a durable investment,” the CEO added.

Thanks to double-digit constant increases in the all-important markets of China and the US, Audi’s first six months sales rose 11% 869,350 cars. More importantly – for executives and investors alike – the margins have also been increased – as the sales were supported by rising demand for the older Q7 SUV or A6 line. The A6, A7, Q7 and A8 models actually grew together by 10% from the same period last year, reaching deliveries of 219,000 units in the January to June period.

Still, the executive did not give earnings projections, because for now the financial sheets are burdened with heavy investments – Audi just completed construction of its second Chinese facility late last year and is investing more than 1 billion euros (0.79 billion pounds) to build new factories in Mexico and Brazil.

Via Reuters