Latest news with #JuergenRittersberger
Express Tribune
05-05-2025
- Automotive
- Express Tribune
Audi keeps outlook after Q1 sales rise, excluding tariff impact
Listen to article Audi, Volkswagen's premium brand, confirmed its full-year outlook on Monday, citing a 12.4% rise in first-quarter revenue driven by strong electric vehicle sales. Notably, the forecast does not account for potential impacts from US tariffs. First-quarter revenue to 15.43 billion euros (\$17.49 billion) in january - March compared with 13.73 billion euros a year earlier. The company expects revenue between 67.5 billion and 72.5 billion euros for 2025, and an operating margin between 7% and 9%. 'Financial implications of import tariffs, particularly in the United States, cannot be conclusively assessed,' Audi said in a statement. Also excluded from the guidance were any consequences of a labour agreement struck in March with the works council, the company noted. Audi, which currently has no manufacturing presence in the United States, confirmed that it would decide this year whether to build production capacity there. Chief Executive Juergen Rittersberger said this could involve building electric vehicles, reflecting a strategic shift amid growing demand. 'We will also have a very close look at electric cars because that's still an area of focus, also in the US,' Rittersberger told reporters. Audi's EV sales have been a key driver in revenue growth as the company seeks to position itself against premium rivals in an increasingly competitive global market. Although Audi's global vehicle deliveries declined by 3.4% in the first quarter, sales of its electric models surged by 30.1%, the company said. In North America, excluding Mexico, deliveries dropped 2.1% to 48,599 units, with Audi noting that several models are awaiting upgrades. In China, shipments fell by 7% to 144,471 vehicles amid fierce market competition. Like other European automakers, Audi is facing pressure from new tariffs that are expected to raise vehicle prices by several thousand dollars, adding strain to an industry already grappling with elevated costs and growing rivalry. Audi currently supplies the US market from its plant in San Jose Chiapa, Mexico, which produces the Q5 SUV and employs more than 5,000 workers.
Business Times
05-05-2025
- Automotive
- Business Times
Audi keeps outlook after Q1 sales rise, but tariff impact not included
[BERLIN] Volkswagen's premium brand Audi on Monday (May 5) kept its full-year guidance, with the caveat that any impact from US tariffs was not included, after its first-quarter revenue rose 12.4 per cent on higher sales of electric models. Quarterly revenue rose to 15.43 billion euros (S$22.52 billion) in January-March, compared with 13.73 billion a year earlier, it said in a statement. The company expects full-year revenue of between 67.5 billion and 72.5 billion euros, up from 64.5 billion in 2024, and an operating margin of 7 per cent-9 per cent. '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 in the guidance. Audi, which has no factories in the United States, confirmed it would decide this year whether to set up production capacity there. CEO Juergen Rittersberger told journalists that this could include the production of EVs. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'We will also have a very close look at electric cars because that's still an area of focus, also in the US,' said Rittersberger. While the company delivered 3.4 per cent fewer vehicles globally in the first quarter, unit sales of its electric cars rose 30.1 per cent. In North America, excluding Mexico, Audi's deliveries fell 2.1 per cent to 48,599 vehicles, as many models there are due to be upgraded, the company said. Deliveries in China fell 7 per cent to 144,471 vehicles in the quarter, hit by intense competition, 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 currently serves the US market through a plant in San Jose Chiapa, Mexico, which makes the popular Q5 model and employs over 5,000 people. REUTERS
Yahoo
05-05-2025
- Automotive
- Yahoo
Audi keeps outlook after Q1 sales rise, but tariff impact not included
By Christina Amann (Reuters) -Volkswagen's premium brand Audi on Monday kept its full-year guidance, with the caveat that any impact from U.S. tariffs was not included, after its first-quarter revenue rose 12.4% on higher sales of electric models. Quarterly revenue rose to 15.43 billion euros ($17.49 billion) in January-March, compared with 13.73 billion a year earlier, it said in a statement. The company expects full-year revenue of between 67.5 billion and 72.5 billion euros, up from 64.5 billion in 2024, and an operating margin 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 in the guidance. Audi, which has no factories in the United States, confirmed it would decide this year whether to set up production capacity there. CEO Juergen Rittersberger told journalists that this could include the production of EVs. "We will also have a very close look at electric cars because that's still an area of focus, also in the U.S.," said Rittersberger. While the company delivered 3.4% fewer vehicles globally in the first quarter, unit sales of its 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, hit by intense competition, 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 currently serves the U.S. 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) (Writing by Ludwig Burger and Amir Orusov. Editing by Friederike Heine and Mark Potter) Sign in to access your portfolio
Reuters
18-03-2025
- Automotive
- Reuters
Audi weighs price increases to soften U.S. tariff blow
INGOLSTADT, Germany, March 18 (Reuters) - Volkswagen's premium Audi brand is weighing whether to pass on the costs of U.S. import tariffs to customers via price increases, it said on Tuesday, adding it was expecting a decision this year on localising production in North America. Audi has no factory in the United States but is one of the carmakers most exposed to U.S. import tariffs via its plant in San Jose Chiapa, Mexico, which makes the popular Q5 and employs over 5,000 people. here. U.S. President Donald Trump earlier this month agreed to exempt automakers for a month from his punishing 25% tariffs on Canada and Mexico so long as they complied with existing free trade rules. Audi's finance chief Juergen Rittersberger said the company was considering "the extent to which we will have to pass on at least some of the tariffs to our customers in the form of price increases". Audi CEO Gernot Doellner expects a decision on localising production in the North American market -- which could include using existing plants of the Volkswagen group or a new plant -- this year.
