Audi Group H1 2020 results show pandemic effect ‘still very significant’

Audi Group H1 2020 results show pandemic effect ‘still very significant’

MANILA: It wasn’t a surprise that Ingolstadt-headquartered carmaker Audi revealed this year’s first-half performance to be subpar compared to the same period in 2019. “Deliveries, revenue and operating profit were below the previous year’s figures. As expected, the consequences of the (coronavirus) pandemic are presenting major challenges for the entire economy and for Audi as well,” the company said in a release.

Following a global shutdown of production plants and dealerships in the early part of 2020, Audi said there was a “significant recovery in customer demand,” along with the resumption of manufacturing. Since the end of June, all Audi plants have started up again.

In H1, the company delivered 707,225 automobiles to customers worldwide, 22% down compared to 906,180 during the same period last year. Still, the brand said it is still better off than the market as a whole which is at -28%. “As a result, the Audi Group’s revenue in the first half of 2020 totaled €20,476 million and its operating loss before special items was €643 million,” it reported.

Audi e-tron Vorsprung cover photo

“The effects of the… pandemic are also reflected in our key financial figures. We responded quickly to (it) and optimized our short-term expenditure without compromising our long-term product plans. We are starting the second half of the year with robust liquidity,” said Audi AG Member of the Board of Management for Finance and Legal Affairs Arno Antlitz.

As with many other brands, Audi has resorted to digital solutions such as virtual showroom to remain in contact with customers despite closed dealerships and to promote social distancing.

“In Europe (-29%) and in the USA (-22%), the deliveries of the Audi brand were still significantly negative in June. In China, a significant recovery in demand has been apparent since March. The Four Rings achieved record figures there in May and June. Cumulative sales in our most important single market are still slightly down on the prior-year period, by 3%. Key growth drivers in China in the first half of the year were the new Audi A6 L, Audi Q2 L and Audi Q5 L,” said Audi.

The silver lining thus far for the company is the “good revenue development of the all-electric Audi E-tron.” By the midyear, 16,898 Audi units had been delivered to customers, making the model the global market leader among all-electric vehicles from German premium brands.

“Despite initial positive signals from the markets, the year 2020 remains extremely challenging. We are steering through the corona crisis in a highly concentrated manner and with the necessary flexibility. Although we have thoroughly reviewed our short-term expenditure in recent weeks, we are keeping a close eye on our long-term projects and are implementing them consistently,” continued Arno Antlitz. “Our strategic decisions define the agenda for the coming years. At the heart of this is the electrification and digitalization of our model range.” One example is Artemis. This new unit will accelerate the development of additional electric models.

For 2020, Audi company expects that sales will continue to be significantly lower amid the pandemic, and predicts “deliveries of the Audi brand and revenue to be significantly lower than in 2019.”

Photos from Audi AG

Also read: Audi E-tron models earn 'S' badges with high output figures

Kap Maceda Aguila

Kap Maceda Aguila

Kap Maceda Aguila has been a writer for nationally circulated publications since 1992 after earning a communication degree, majoring in journalism, from the University of the Philippines-Diliman. Over the course of his career, Kap has covered various beats from lifestyle, business, technology, entertainment, and motoring.  He was a segment host, writer, and producer of The Philippine Star’s Wheels which first aired in 2015, and was appointed head writer in 2018. In 2019, The Star opened motoring and transportation website Wheels.ph and made Kap its first online editor – a position he held before leaving to become motoring editor of Business World in February of 2020. Today, he continues to pen articles for The Star and other publications, and co-hosts a radio show, Gear Box on Radyo Pilipinas 1 738 AM. Kap is also editor in chief of Zigwheels Philippines and Carmudi Philippines.

Read Full Bio

Sell your car at the best price

Verified and genuine buyers Verified and genuine buyers
Free listing Free listing
List your car

Audi Car Models

  • Audi Q2
    Audi Q2
  • Audi R8 Coupe
    Audi R8 Coupe
  • Audi A3 Sedan
    Audi A3 Sedan
  • Audi Q3
    Audi Q3
  • Audi RS 3 Sportback
    Audi RS 3 Sportback
  • Audi Q7
    Audi Q7
  • Audi RS5 Coupe
    Audi RS5 Coupe
  • Audi R8 Spyder
    Audi R8 Spyder
  • Audi A6 Sedan
    Audi A6 Sedan
  • Audi RS E-tron GT ev
    Audi RS E-tron GT
Audi Cars Price

PIMS 2024

You might also be interested in

  • News
  • Featured Stories

Latest Audi Car Videos on Zigwheels

Zigwheels
  • 2022 Audi Q5 TDI S Line Spec Guide | Zigwheels.Ph
    2022 Audi Q5 TDI S Line Spec Guide | Zigwheels.Ph
    19 Sep, 2022 .
  • 2022 Audi Q5 TDI S Line Review | Zigwheels.Ph
    2022 Audi Q5 TDI S Line Review | Zigwheels.Ph
    19 Sep, 2022 .
  • Talking About an Electric "FutureNow" at PGA Cars | Zigwheels.Ph
    Talking About an Electric "FutureNow" at PGA Cars | Zigwheels.Ph
    15 Jul, 2022 .
  • Audi R8 V10 Plus - Jay Leno's Garage
    Audi R8 V10 Plus - Jay Leno's Garage
    18 Oct, 2016 . 946K views
  • 2016 Audi A6 and Audi A7 walkthrough
    2016 Audi A6 and Audi A7 walkthrough
    27 Apr, 2016 . 8K views
  • 2016 Audi A7 Overview
    2016 Audi A7 Overview
    27 Apr, 2016 . 4K views
  • 2016 Audi A7 3.0T Quattro - Exterior and Interior
    2016 Audi A7 3.0T Quattro - Exterior and Interior
    27 Apr, 2016 . 58K views
  • 2016 Audi A7 TDI
    2016 Audi A7 TDI
    27 Apr, 2016 . 76K views
  • 2016 Audi A7
    2016 Audi A7
    27 Apr, 2016 . 511K views
  • 2016 Audi A7 | Daily Driver
    2016 Audi A7 | Daily Driver
    27 Apr, 2016 . 35K views
Latest Audi Car Videos

Audi Car Articles From Carmudi

  • journal
  • Audi PH to hold 'Certified Pre-Owned Sales Program'
    Audi PH to hold 'Certified Pre-Owned Sales Program'
    Ruben Manahan IV, Oct 11, 2024
  • Audi PH boosts service team proficiency with 'specialized' training session
    Audi PH boosts service team proficiency with 'specialized' training session
    Ruben Manahan IV, Aug 15, 2024
  • Audi receives Royal Warrant of Appointment from King Charles
    Audi receives Royal Warrant of Appointment from King Charles
    Paulo Papa, Aug 01, 2024
  • Audi PH to offer 'Electric Dreams' promo for limited time
    Audi PH to offer 'Electric Dreams' promo for limited time
    Ruben Manahan IV, Jul 18, 2024
  • Audi wins 2024 Dakar Rally with RS Q e-tron
    Audi wins 2024 Dakar Rally with RS Q e-tron
    Paulo Papa, Jan 23, 2024

Compare

You can add 3 variants maximum*