Audi AG posted a resilient financial performance in the first quarter of 2025, navigating ongoing global economic headwinds, increased competition, and political uncertainty. Despite these challenges, the company achieved significant progress in its electrification strategy, with electric vehicle (EV) deliveries from the Audi brand rising by 30.1% year-over-year to 46,371 units.
Financial Performance Overview
Revenue for the quarter reached €15.4 billion, marking a 12.4% increase from the same period in 2024. Operating profit climbed to €537 million, with an operating margin of 3.5% (Q1 2024: 3.4%). Net cash flow stood at €-61 million, reflecting continued investments in product development, platform expansion, and the acquisition of Sauber Holding AG shares.
Profit after tax totaled €630 million (Q1 2024: €736 million), with a financial result of €265 million, including €170 million from the China business. “Our key figures for the first quarter clearly show that we must continue to improve our efficiency and competitiveness and are therefore pushing ahead with the transformation of Audi with our full strength,” said Audi CFO Jürgen Rittersberger.” The agreement for the future has set the right course. Together, we will tackle the challenges and the necessary changes and bring Audi back to the forefront.”
Brand Group Progressive Sales Performance
In Q1 2025, the Brand Group Progressive—comprising Audi, Bentley, Lamborghini, and Ducati—delivered 388,756 vehicles (-3.3%) and 11,947 motorcycles (-3.5%). Audi brand alone handed over 383,401 vehicles worldwide, representing a 3.4% decline. However, the surge in EV sales, particularly in Western Europe, drove a sharp rise in incoming orders for fully electric models (+86%), underscoring the success of the ongoing model initiative launched in 2024.
Regional Highlights
- Europe (ex-Germany): Audi delivered 112,707 vehicles (-3%), with electric models surging 50.4% to over 25,129 units.
- Germany: Deliveries increased by 4.8% to 48,447, including 8,640 EVs (+59%).
- North America (ex-Mexico): Deliveries dipped 2.1% to 48,599 units due to model changeovers.
- China: Deliveries declined 7.0% to 144,471 units amid intense local competition. Audi continues to localize production and expand its EV lineup to address the market.
Product Highlights and Model Initiative
Audi is ramping up its product offensive, including plans to launch 10 new plug-in hybrid models by the end of 2025. The Audi A3 and A5 PHEVs have already debuted, with the Audi A6 Avant e-tron* and A6 Sedan e-tron* scheduled for release in May. These models boast electric ranges of over 100 km and increased charging capacity.
At Auto Shanghai 2025, Audi unveiled five world premieres, including the A6L e-tron and the AUDI E5 Sportback—the first production model under the new, China-focused electric sub-brand aimed at tech-savvy customers.
Performance of Bentley, Lamborghini, and Ducati
- Bentley: Delivered 2,388 vehicles (Q1 2024: 2,506); revenue was €661 million with an operating profit of €71 million and a margin of 10.7%.
- Lamborghini: Posted 12.8% growth with 2,967 deliveries; revenue surged to €895 million, operating profit to €248 million, and margin to 27.7%.
- Ducati: Delivered 11,947 motorcycles (-3.5%), with revenue down to €246 million and operating profit at €15 million (margin: 6.3%).
Outlook for Full-Year 2025
Audi Group maintains its forecast for full-year revenue between €67.5 billion and €72.5 billion, an operating margin of 7–9%, and net cash flow of €3–4 billion. However, financial impacts from potential U.S. import tariffs and aspects of a pending agreement are not yet factored into this forecast due to ongoing evaluations.
