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China boom helps Audi profits soar

The Local · 1 Mar 2012, 11:01

Published: 01 Mar 2012 11:01 GMT+01:00

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The Bavarian-based company, which is owned by auto powerhouse Volkswagen, made over €44.4 billion in total sales last year – a record high.

Net profits of €44.1 billion – an increase of nearly 25 percent – were also reported.

These record figures mean a record bonus for many of Audi’s 44,800 German employees, as the company announced they are paying €390 million in bonuses this year.

On average, employees are set to earn an extra €8,251 in bonuses, bosses at the company’s headquarters in Ingolstadt announced on Thursday.

Workers in Belgium and Hungary can also look forward to extra cash, said Audi, who employs over 63 million people across the globe.

In the past year over 1.3 million Audi vehicles were sold worldwide, the most being snapped up in China, where over 313,000 of Germany-designed cars were purchased – a rise of over 37 percent on 2010’s figures.

Audi chairman Rupert Stadler said in a statement that the despite 2011’s pleasing figures, he remained reserved about the coming year.

He added that he hoped “that growth in 2012 remains stronger than the automobile market growth as a whole.”

Story continues below…

DPA/DAPD/The Local/jcw

The Local (news@thelocal.de)

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Your comments about this article

14:03 March 1, 2012 by Englishted
Well done and sharing some of the results with the workforce,that was the German way but some other companies have put down the carrot and just use the stick.

But once again well done and may it carry on.
17:18 March 1, 2012 by neunElf
63 million employees?

The entire VW group has 365,000 total employees.

Do the math!
17:24 March 1, 2012 by Bryan Munich
Net profit 44.1 Bn???

Don't think so.

Other than that a very accurate article.
17:43 March 1, 2012 by michael4096
The Chinese government has announced that it will restrict purchases of official vehicles to Chinese manufacturers. We will see, but it was 20% of that business
22:53 March 1, 2012 by Anth2305
@Bryan Munich

Net profit 44.1 Bn???

A quick google reveled..

"Audi said in its annual report that net profit soared by 69 percent to 4.44 billion euros ($5.90 billion) in 2011".
15:50 March 3, 2012 by derExDeutsche
Don't you know that the Income Gap between the RIch and Poor in China is growing wider and wider by the day?
16:09 November 10, 2012 by honeybeee
Audi is definetely a very clever german auto maker as well as their germany auto supplier Schaeffler Ag . In the recent report said , Schaeffler Ag will create 556 jobs at its two Hungarian plants and invest over EUR 76 mln, including substantial state grants. They believe the investment will repay itself very quickly. Btw , Schaeffler ag also heavily starts to invest in china as early as Year 1996. So that really proves all enterprises which want to survive in succeeding to develop in this economic situations must have a very shrewd global strategy .
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