Audi Says High Demand For EVs And Strong Sales Growth

In nearly all core regions, the Audi Group began 2023 with strong delivery figures. The brand group delivered 422,000 Audi, Bentley, and Lamborghini vehicles in the first quarter, an increase of about 8% over the same period last year. The improved semiconductor supply situation enabled the company to better meet the high demand for Audi models, particularly in Europe and the United States. The total revenue increased to €16.9 billion. The operating profit increased to €1.8 billion, with a 10.8 percent operating margin at the upper end of the strategic target corridor. The 43 percent increase in electric vehicle deliveries shows that the brand group is on the right track.

Audi has made significant progress in its ongoing electrification journey: Audi has announced the launch of approximately 20 new models between late 2023 and late 2025, more than ten of which will be all-electric, in the company's largest model offensive in history. The entire brand group had a strong first quarter in 2023. The Audi, Bentley, and Lamborghini brands delivered 421,824 vehicles (Q1 2022: 390,826), 7.9 percent more than the previous year. Due to improved semiconductor supply, the Audi brand delivered 415,684 vehicles to customers worldwide (Q1 2022: 385,084). The brand group accelerated the implementation of its e-roadmap in the first quarter, delivering 34,584 electric cars (Q1 2022: 24,236), a 43 percent increase over the previous year's figure. The percentage of electric vehicles delivered increased significantly, rising from 6.2 to 8.2 percent.

Audi CEO Markus Duesmann: “We increased deliveries of all-electric models in the brand group by 43 per cent. This shows how attractive our electric portfolio already is. And with the largest model offensive in Audi’s history, starting with the Q6 e-tron in the second half of the year, we are providing the right response to the accelerated trend toward electric mobility.”

The delivery figures also resulted in a significant increase in sales in the first quarter. Revenue increased 18.2 percent to €16,883 million (Q1 2022: 14,282), with the all-electric Audi Q4 e-tron and Audi e-tron GT Quattro, as well as the Audi Q5 and Audi Q7, being the main contributors. The share of EU taxonomy-aligned revenue increased again, reaching 14.5 percent.