Audi: record profit as 'biggest product initiative' in its history gets underway

Audi Group CEO Markus Duesmann

Even as the Audi Group (VOW.DE), VW’s luxury division, is in the midst of a huge EV transformation it still needs to perform where it counts — the bottom line.

And so it is doing just that.

On Thursday the Audi Group - which is dominated volume-wise by Audi, but also includes Bentley, Lamborghini, and Ducati - posted record revenue and operating profit in 2022. That shouldn’t be a surprise given what the industry has been seeing at the highest end of the market - record performances despite macroeconomic jitters across the globe.

But that it's happening as the group is noteworthy.

“We are on the verge of the biggest product initiative in our history,” Audi Group CEO Markus Duesmann said at a news conference earlier on Thursday. “By 2025, we will have launched around 20 new models, more than 10 of which will be all-electric. We have set the course to go 100% electric. By 2027, we seek to offer an all-electric vehicle in each core segment.”