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

Article by Christian Andrei, 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:

Comments

Login or Create new account to add a comment!

Recommended

BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 2017
What is hotter and more menacing than a Hellcat? If we ask Dodge, its answer would be the “Demon.” Of course, we aren’t talking about a demon with horns and...
by - January 20, 2017
The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 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