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China boom helps Audi profits soar

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China boom helps Audi profits soar
Photo: DPA
11:01 CET+01:00
German car giant Audi posted record profits, the company reported on Thursday after turnover soared by over 68 percent in 2011.

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.”

DPA/DAPD/The Local/jcw

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