Audi announced that its profits for 2024 fell by 33% to €4.189 billion, pressured by a decline in demand in China, the world’s largest automotive market.
Additionally, the German brand revealed that its revenue dropped in 2024 to €64.532 billion, down 7.6% compared to 2023.
Moreover, the brand also reported that its operating profit was €3.903 billion, a decrease of 37.8% from the previous year, a decline that, according to the company, was driven by restructuring costs resulting from the closure of the production facility in Brussels.
“Global economic changes and the intensification of international competition pose significant challenges for Audi and the industry as a whole”, said Audi’s CEO, Gernot Döllner, during the results presentation.
Audi, which also owns the brands Bentley, Lamborghini, and Ducati, will focus in 2025 on rejuvenating its portfolio with “numerous new models”.
“We are also placing special emphasis on our positioning in the key markets of China and North America”, Döllner added.
The brands Audi, Bentley, Lamborghini, and Ducati delivered 1,692,548 vehicles last year, down 11.8% compared to 2023, and 54,495 motorcycles, down 6.4% from the previous year.
Remember that Audi announced a restructuring plan that involves eliminating 7,500 jobs in Germany by 2029.
