Audi sales rose 7.7 percent in July boosted by China and U.S. demand

Article by Christian Andrei, on August 25, 2010

Audi's deliveries increased by 7.7% in July as demand from China and the US propelled sales to record levels in both countries. From selling 84,853 units in July 2009, Audi was able to deliver 91,400 cars and sport-utility vehicles last month.

Meanwhile, seven-month sales gained 17% or 646,300 units. In a statement, sales chief Peter Schwarzenbauer said that the company was able to triple sales of its imported models in China. Sales in China went up 53% to 20,537 vehicles while US deliveries climbed by 22% to 7,817 units.

Audi's target is to steal BMW AG's title as the world's largest maker of luxury cars by 2015. Audi aims to achieve record sales of over 1.08 million vehicles this year, a 14% increase from 2009.

Audi's forecast is comparable with a goal to boost sales by 10% at BMW and Mercedes-Benz's intention to outpace market growth of 4%. On May 20, the Volkswagen AG division said that it is targeting a return on capital in 2020 of more than 18% and a pretax profit margin of more than 8% of sales.

Audi contributed 1.33 billion euros to Volkswagen's first-half group operating profit of 2.84 billion euros. On the other hand, Volkswagen, the biggest carmaker in Europe, aims to beat Toyota Motor Corp. in deliveries and profitability by 2018. VW also wants a second straight year of record sales in 2010.

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