Audi Stuck With Low Returns on Rising Europe, China Competition
Volkswagen AG's Audi continues to struggle with low returns as the German carmaker contends with tepid demand in Europe and intensifying competition in China.
The brand's operating margin came in at 1.5% in the first quarter, a slight improvement over the 1.1% in the same period last year, Audi said Monday. Deliveries of fully electric vehicles were a bright spot, rising 30%.
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So Maybach went a bit more extreme, stamping the company's recognizable logo all over the hood, a labor-intensive printing process that involves four coats of clear lacquer and three hand-sanded coats of paint. Remove the lavishness, and the SL is also a true sports car, with a 577 horsepower biturbo V8 powerplant. The convertible's specially tuned suspension gives owners a softer or firmer driving experience, depending on the location and one's state of mind. Lescow recently spoke to ABC News about the SL 680, the sportiest model in the marque's long history, and how he's growing brand awareness in the crowded luxury space. The interview below has been edited for space and clarity. Q: You said you want to make the brand "more desirable." Please explain. A: There's various dimensions to it. One is the product image. The second dimension is the way we connect with our customers and potential customers in retail spaces. One by one we're building these Maybach lounges -- dedicated spaces -- globally for customers to learn more about the cars and brand aesthetics. We have a very elaborate location in India. At one event in Vienna there was a private concert with [pianist] Lang Lang, who played the piano for our most important customers. Another dimension is our collaborations. For example, we're working with a [German] silverware company on champagne flute holders. It's important the brand is centered around the lifestyle of our customers. Q: Convertibles are a niche market in the U.S. How difficult is it to sell convertibles to American drivers? A: It is not so much about the location or the nationality. It's about the individual customer we want to approach. We do see significant potential in the American market. It's an important market for Maybach, clearly. We recently opened a massive Maybach presence at the Mercedes-Benz dealership in Manhattan. 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For electric driving, we do have the Mercedes-Maybach EQS SUV, which is fully electric. That car is completely different. The electric drivetrain really adds to what's important to Maybach. It's the most comfortable and quiet ride you can imagine. Q: So there was no discussion about making the SL an electric convertible? A: For this car, no. We wanted to have the characteristic of a sports car with all the emotions around it. Q: Why would a customer choose this model over the AMG SL 63 Roadster? A: The SL 680 is clearly designed for sporty driving but with all the Maybach ingredients: comfort and opulence. Customers looking for an even sportier car would clearly opt for the AMG. The cars are different from the ways they look and behave -- they address different customer needs. Q: How has the brand changed under your leadership? A: It's a privilege to work with such a legendary brand. We launched two new cars, doubling the portfolio from two cars to four with the SL. We have seen brand awareness increasing around the world -- that is something that's very important. I can't wait to see what the future will bring. Q: There's still uncertainty about tariffs and costs -- how does this factor into your product planning? Do wealthy customers still spend money in these unpredictable times? A: There are some uncertainties. At the same time, sales volume will go up and down. And that's natural. For us, it's more important that we build a solid base for the brand and that we continue to build brand awareness. With the right offerings, I have do doubt that Maybach will be successful.
