Audi AG announced its annual results for the 2017 financial year with a record turnover of €60 billion, along with a very healthy operating profit of €5.1 billion before special items, which include provisions related to the V6 3.0 TDI diesel issue in North America. Along with the results the company also announced strategic moves and landmarks in 2018, including the year end launch of their first fully electric vehicle – the Audi e-tron.
“In 2017, we demonstrated entrepreneurial strength and above all formulated a determined master plan for the coming years,” says Rupert Stadler, Chairman of the Board of Management of AUDI AG. “We intend to play a leading role in the tremendous upheaval facing our industry. By 2022 alone, we have planned more than €40 billion for development activities and investment. We are making Audi fit for this mission with our Action and Transformation Plan.”
Audi’s Action and Transformation Plan aims to achieve positive earnings effects totaling €10 billion by 2022 and to accelerate the organizational realignment for future business models. “We are implementing our program of measures quickly and systematically, we are becoming more efficient and we are investing freed-up resources in new, profitable growth. This has already allowed us to decide four additional new models and derivatives with an unchanged budget,” says Alexander Seitz, Member of the Board of Management for Finance, IT and Integrity.
Audi sold a record 1,878,105 automobiles over 2017, with global sales compensating for issues the group had in China. The brand also announced the e-tron, a fully electric SUv with fast charging at 150kW and charge times of under 30 minutes. The e-tron will be produced completely CO2-neutral at the converted Brussels plant where also the model’s batteries will be assembled. Audi Hungaria is ready to start production of the SUV’s electric motor in Győr, Hungary.