Audi wary of Ukraine war impact in plans for 2022, counts India as a “very important market”, Auto News, ET Auto

Audi delivered 1.68 million vehicles throughout 2021, a drop of .7% from the earlier yr, and reported a turnover of EUR 53.1 billion for the yr.
New Delhi: The affect of the continued struggle in Ukraine has Boardrooms the world over involved, for the horror that’s unfolding within the East European nation, in addition to for the affect it might have on business. The annual outcomes convention of Audi AG was a mirrored image of that. CFO Jürgen Rittersberger expressed critical considerations in regards to the struggle, and understanbly was subdued despite the fact that he reported report web money movement of EUR7.8 billion, and 6% development in turnover throughout a “turbulent” 2021 regardless of a marginal drop in gross sales. Audi delivered 1.68 million vehicles throughout 2021, a drop of .7% from the earlier yr, and reported a turnover of EUR 53.1 billion for the yr. Working revenue for the Audi Group stood at EUR5.5 billion, 10% development over the earlier yr. The presentation slide stating Audi’s projections for 2022 additionally had a reference to the Ukraine struggle. The 2022 steerage column got here with a rider, ‘with out affect of Ukraine struggle’. With no affect of the continued struggle, which sadly is unlikely, Audi plans to promote between 1.8 million and 1.9 million automobiles throughout this yr. The income goal is about between EUR 62 billion and EUR 65 billion for the yr.As a response to Russia’s assault on Ukraine, Audi has stopped delivery its automobiles to Russia “until additional discover”. The struggle’s affect on the corporate’s provide chain has additionally affected its manufacturing plans. Audi has 16,000 suppliers worldwide, and 18 of them are based mostly in Ukraine. Dirk Grosse-Loheide, Audi AG’s Board member chargeable for procurement and IT, mentioned the corporate has labored figuring out different sourcing methods to deal with the continued problem however hasn’t withdrawn contracts with its Ukrainian suppliers. He anticipated the problem to proceed for a while. “It can proceed to be a headache for a lot of weeks to return,” the Board member mentioned. EV offensive and India outlookAudi, which has up to now launched 5 fashions within the rising EV area in India, plans to have over 20 new choices beneath its electric-only E-Tron model by 2026. By then it may additionally begin assembling EVs in India. The German luxurious model, working in India since 2007, bought 3,293 automobiles right here in 2021. That determine is near double the determine clocked in 2020, however its greatest efficiency within the Indian luxurious automobile market was in 2015 when it bought near 12,000 models. Responding to a question from ETAuto throughout the annual outcomes convention, Hildegard Wortmann, Audi AG’s Board member chargeable for gross sales and advertising and marketing, mentioned, “We’ll proceed to develop this (gross sales) within the medium time period. It (India) is probably not the highest precedence market, however a vital market (for Audi).” She additionally added that the EV portfolio in India will proceed to be expanded until 2030, and through this era Audi can even “overview our India technique intimately”. Additionally Learn:
The worth hike is a results of rising enter prices and can come into impact from April 01, 2022,” mentioned the corporate in a press release. The Russian invasion of Ukraine had “made the scenario tougher for our Ukraine-based suppliers, resulting in shortages,” a VW group spokesman mentioned in a press release.

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