Audi reports slump in profit mainly due to cost of factory closure

NAMPA / DPA

2024-11-05

Munich (dpa) - The operating profit of German carmaker Volkswagen's subsidiary Audi plummeted by 91% in the third quarter compared to the same period of the previous year, reaching only ?106 million ($116 million). Chief financial officer Jürgen Rittersberger cited several reasons on Tuesday for this decline: a 16% drop in Audi brand sales to 407,000 cars sold, "very intense price competition in Europe and in China," and primarily the provisions......

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