Audi Posts $515 Million Third-Quarter Profit - Q4 To Be Even Stronger

Audi posted a $515 Million Third-Quarter Profit and CFO Axel Strotbeck said he expects the Ingolstadt, Germany- based auto manufacturer to post even stronger 4th quarter earnings due to the recovery of the recession. This would give Audi a 2009 full-year profit of over $1.52 billion, down significantly from the 2008 record of $2.77 billion, but much higher than that of its rivals, Bmw & Mercedes-Benz, who may not be able to make any 2009 full-year profit. Audi has also narrowed the sales gap to it's competitors by being the clear market leader in the growing Chinese market while having far less exposure to the ailing U.S market.
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GermanNut - 11/2/2009 11:24:55 AM

-1 Boost

This result makes it clear that Audi will be the only German premium car manufacturer to post a significant profit for 2009 as a whole. BMW and Mercedes-Benz could very likely fail to make any profit for 2009 considering neither is currently profitable through the first three-quarters of 2009.

david999 - 11/2/2009 12:46:21 PM

+3 Boost

VW is in trouble though:

http://www.bloomberg.com/apps/news?pid=20601085&sid=arrXRjofbowo#