Audi is aiming this year to match its EUR5.35 billion in operating profit posted in 2011, despite dwindling earnings in the third quarter of 2012. In a statement, finance chief Axel Strotbek said that Audi is still on track to reach its operating profit target for 2012. Audi posted EUR1.3 billion in operating profit for the third quarter of 2012, compared to EUR1.4 billion in operating profit for the same period in 2011.
Audi said in the statement that the smaller figures were to increased research and development, production and marketing spending. Despite the lower profit figures, Audi managed to sell 364,303 vehicles around the world in the third quarter of 2012, compared to 320,262 in global sales in the same period in 2011. This allowed Audi to log a 15.7-percent increase in revenues to EUR12.6 billion.
However, Audi's operating margin dropped to 10.5% from 13.1%. Audi has said that it is targeting to hike its worldwide deliveries from 1.3 million vehicles in 2011 to 1.4 million units this year, eyeing to globally outsell rival premium carmakers Mercedes-Benz and BMW. Audi delivered 1.09 million vehicles in the first three quarters of 2012, up from 973,154 in the same period in 2011.