Car manufacturers: Audi's profit plummets drastically - 87 percent less than in the same period last year
After the PR disaster of the Audi boss in the USA, the next blow now follows in terms of the balance sheet. The core brand Audi slipped into the red in the third quarter.
Audi reported a loss of 174 million euros in the third quarter, despite a revenue of 11.6 billion euros. The company's parent group, which includes Lamborghini, Bentley, and Ducati, posted a small profit of 28 million euros for the quarter. The group's operating profit for the first nine months of the year was 1.2 billion euros, down 26 percent from the same period last year. Audi's financial chief, Jürgen Rittersberger, said the company faces high pressure to take action to address its struggles.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
