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Audi's profits edge down in Q3
(MENAFN) German auto giant Audi announced posting a marginal dip in its third-quarter profits as spending on plants and models outweighed gains from record luxury auto sales, Gulf News reported.
Volkswagen's flagship subsidiary's profit as a proportion of sales contracted to 9.2 percent in the third quarter, from 9.4 percent posted a year ago, the carmaker said in a statement.
Audi has seen its overall 2014 sales shrink to 103,494 cars after nine months, from 118,110 a year ago, while quarterly sales were up 7.2 percent to 429,295 cars on demand for sport utility vehicles (SUV).
"Audi has fared much better than expected with its ageing line-up. Mercedes is at a more favorable spot in its model cycle," Frankfurt-based Bankhaus Metzler analyst said.
Volkswagen's flagship subsidiary's profit as a proportion of sales contracted to 9.2 percent in the third quarter, from 9.4 percent posted a year ago, the carmaker said in a statement.
Audi has seen its overall 2014 sales shrink to 103,494 cars after nine months, from 118,110 a year ago, while quarterly sales were up 7.2 percent to 429,295 cars on demand for sport utility vehicles (SUV).
"Audi has fared much better than expected with its ageing line-up. Mercedes is at a more favorable spot in its model cycle," Frankfurt-based Bankhaus Metzler analyst said.
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