On the 25th Audi Group It has announced its financial report for the first half of 2024. The data showed that the company’s revenue in this period was 30.9 billion euros (IT House note: currently about 242.559 billion yuan). down 9.5% year-on-year, mainly due to a decline in performance, operating profit was 1.982 billion euros, operating profit increased by 6.4%, and net cash flow was 1.13 billion euros, down 39.9% year-on-year.

In terms of delivery volumes, the Audi Group delivered a total of 843,991 vehicles from the Audi, Bentley and Lamborghini brands in the first half of the year (-8.2% compared to the same period last year). The Audi brand increased deliveries, particularly for pure electric models, by 10% in the second quarter compared to the first quarter of 2024 (+15% y/y).

Audi blames the decline in annual deliveries on supply bottlenecks and by changing modelsAt the same time, deliveries of fully electric models increased by 1.3% to 76,657 units in the first half of the year (75,647 units in the first half of 2023); Hybrid vehicles also experienced significant growth with annual growth of around 61%.

• In Europe, demand for Audi’s all-electric models remains stable despite subsidy programs being reduced or cancelled in many markets. Of the 48,332 electric vehicles delivered, deliveries were only 1.7% less than a year earlier. In the first half of this year, the Audi brand delivered 343,575 vehicles to customers, 9.7% less than a year earlier. Deliveries in the German domestic market also fell to 102,511 vehicles.
• Demand for Audi electric vehicles continues to grow in the US market. The Audi brand delivered 11,121 electric vehicles in the first half of this year, up 10.2% compared to the same period last year. Total delivery volume was 92,913 vehicles, 14.2% less than the same period last year.
• Audi brand remains strong in China. Despite fierce competition and declines in high-end markets, Audi deliveries still reached 320,370 vehicles (-1.9% y-o-y), barely changed compared to last year.

Audi CEO Gernot Dorner said that with the world premiere of the Audi Q6 e-tron this spring, the company is entering its model “explosion” phase. “We will launch more than 20 models in 2024 and 2025. With fully electric models, hybrids and new-generation efficient internal combustion engine vehicles, we are expanding and renewing our product portfolio and positioning ourselves to be flexible and reliable. We will also benefit from this in terms of supply volume and profit.”

Audi is bringing a number of new models to market. Following the world premiere of the all-new Audi A5, a second all-electric model, the Audi A6 e-tron, will be introduced at the end of July using the Advanced Electric Platform (PPE).