On March 17, the Audi Group announced its 2022 sales results, showing sales revenue of 61.8 billion euros, up 16.4 percent from the previous year. And it’s operating profit was 7.6 billion euros, up nearly 40% from the previous year. The operating sales margin was 12.2%, up from 10.4% in FY2021.
Behind the strong financial performance in 2022, the four brands of the Audi Group delivered approximately 1.638,600 cars and 61,600 motorcycles. Due to logistics and supply chain’s challenges in the first half of 2022, the Audi delivered approximately 1,614,200 cars for the full year, a lower sales volume than the approximately 1,680,500 units delivered in FY2021.
Audi Group sold approximately 118,200 pure electric vehicles in total, a 44 percent increase year on year. Furthermore, Audi’s global EV’s sales share increased to 7.2% in 2021 from 4.8%.
Starting in 2023, Audi Group will launch the largest-scale product campaign in the company’s history, according to information revealed at the FY2022 press conference. Audi Q6 e-tron, the first luxury pure electric PPE platform model, will be released in the second half of this year.
“In 2024 and 2025, we will start a new campaign in China’s electric vehicle market with new products.” Audi CEO—-Markus Duesmann said, “We are currently accelerating the construction of the PPE plant in Changchun, which is expected to be completed by the end of next year.
In fact, the PPE plant in Changchun bears a heavy burden of electric transformation, which is considered as the key to both Audi’s success in the Chinese market as well as the expansion of its lineup of electric vehicles globally. The Audi brand sold roughly 642,500 units in China in 2022. It trails BMW’s sales of 791,900 units and Mercedes-Benz’s sales of 751,700 units by 100,000 units.
Audi FAW New Energy Automobile Co., Ltd.’s total investment for this exceeds 18 billion yuan, and this investment is reflected in the Audi Group’s FY2022’S performance. Audi Group net cash flow was 4.808 billion euros in FY22, down from 7.757 billion euros in FY2021. Audi Group’s financial figures are influenced by a large investment in Audi FAW, as well as an increase in inventory and higher taxes to ensure delivery.
Audi Group’s financial income in China was 1.153 billion euros in FY22, nearly unchanged from 1.14 billion euros in FY2021. In 2022, after-tax revenue was 7.116 billion euros, up from 5.649 billion euros in FY2021.
With current supply conditions and global economic trends, the Audi Group expects to remain positive in FY2023, with deliveries of 1.8 to 1.9 million cars and sales of 69 to 72 billion euros. Given the continued high level of cars’ prices, operating sales margins are expected to range between 9% and 11%, with net cash flow ranging between 4.5 and 5.5 billion euros.
According to the plan, two-thirds of Audi Group’s expenditure from 2023 to 2027 will be invested in future’s electrification and digitization fields, amounting to approximately 28 billion euros. “Our focus on the SDGS will determine Audi’s short, medium, and long-term actions,” Duesmann said. The pursuit of a sustainable path motivates this pair of future investment plans.”