Audi’s 3Q 2010 results exceed market forecasts by a big margin

Article by Christian A., on October 28, 2010

For the third quarter, Volkswagen’s luxury brand Audi had profitability that far exceeded market forecasts and thriving earnings from its China operations.

Last Wednesday, VW revealed detailed quarterly results and a full cash flow statement, indicating that Audi's quarterly operating margin exceeded 11%. In a statement, CEO Martin Winterkorn said that the company is “well-positioned to achieve the goals laid down in [its] Strategy 2018."

Last Friday, Volkswagen disclosed preliminary figures that analysts had said were a "blowout." However, VW warns that business in the current quarter could not keep up with the rapid pace seen in the first nine months.

The group's share of profits from the two Chinese joint ventures proportionate to VW's stakes amounted to 513 million euros ($715.8 million).

This was more than double the 231 million posted a year earlier. Since Volkswagen does not consolidate their results, earnings from the JVs are considered investment income below the operating profit line. Therefore, they can’t be held responsible for Friday's significant earnings beat before interest and tax.

Topics: audi, sales

If you liked the article, share on:

Pin It

Comments

Recommended

The German automaker Volkswagen is now racing against time to come up with electric vehicles that will be able to pass Europe and China's stringent emission standard. The car company...
by - March 22, 2017
In the last few years, the advent of compact sedans and crossovers has become quite overwhelming. Even two of the major manufacturers that “started it all” have to admit that...
by - March 22, 2017
By 2020, Audi will be throwing out not just one but three fully-electric vehicles. One of which will be pitted against the BMW i8. This new information was revealed by...
by - March 22, 2017
Tesla confirms that they will be discontinuing the fairly new Model S 60 and 60D sedans as soon as next month. Why, you ask? The company wants to make enough...
by - March 22, 2017
Have you ever wondered how much luxury car companies profit from every vehicle they sell? And which companies profit more? Well, in 2016, Porsche sold over 238,000 vehicles. That is...
by - March 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries