Audi maintained its full-year guidance on Monday. However, this doesn’t account for any potential impact from U.S. tariffs. First-quarter revenue increased by 12.4% due to higher electric model sales.
The quarterly revenue reached 15.43 billion euros ($17.49 billion) in January-March. This is compared to 13.73 billion a year earlier, the company stated.
Audi anticipates full-year revenue between 67.5 billion and 72.5 billion euros. This is an increase from 64.5 billion in 2024. They expect an operating margin of 7%-9%.
Audi stated, “Financial implications of import tariffs, particularly in the United States, cannot be conclusively assessed.” They added that implications of a March agreement between Audi’s management and the works council were also not yet considered in the guidance.
Audi has no factories in the United States. The company confirmed it would decide this year whether to establish production capacity there.
CEO Juergen Rittersberger told journalists that this could include the production of EVs. Rittersberger stated, “We will also have a very close look at electric cars because that’s still an area of focus, also in the U.S.”
Globally, the company delivered 3.4% fewer vehicles in the first quarter. However, unit sales of electric cars rose 30.1%.
In North America, excluding Mexico, Audi’s deliveries fell 2.1% to 48,599 vehicles. The company said that many models are due to be upgraded there.
Deliveries in China decreased by 7% to 144,471 vehicles in the quarter. The company added that intense competition caused the decline.
Like other European carmakers, tariffs have dealt Audi a severe blow. They are expected to raise car prices by thousands of dollars and rattle an automobile sector already struggling with high costs and intensifying competition.
Audi currently serves the U.S. market through a plant in San Jose Chiapa, Mexico. This plant manufactures the popular Q5 model and employs over 5,000 people.
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