Audi recorded a dramatic decline in profits during the third quarter. The VW subsidiary’s net profit amounted to only €95 million after taxes, representing an 87 percent decrease compared to the same period last year, when the profit had stood at €718 million. The company announced on Friday that it would be adjusting its full-year forecast downwards, though it maintained expectations for a stronger fourth quarter.
The performance challenges faced by Audi stem from several factors. Market downturns in China, particularly concerning combustion engine vehicles, have played a major role. Furthermore, the company is pressured by rising competition and export pressure from Chinese manufacturers entering the European market. Other contributing difficulties include uncertainties surrounding the geopolitical situation in the Middle East and the associated energy costs, alongside existing US tariffs.
Separately, Audi’s CEO, Gernot Döllner, has come under scrutiny following a public appearance with US President Donald Trump. The controversy arises because Trump announced plans for a new Audi factory during a campaign event held in Georgia. Critics have accused Döllner of violating Audi’s own internal regulations. Döllner, however, defended the appearance, stating it was conducted in the best interests of the company and emphasizing his respect for the office of the presidency.
