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Audi achieves record sales and revenue figures for first half of 2004

Audi has recorded its best sales result in company history, with 389,970 cars sold worldwide, an increase of 0.6% on the same period last year.

Revenue was up by 7.7% to the record level of €12,328m. Profit before tax remained stable at the previous year's level at €502m and net profit rose by 16.3% to €336m.

Audi achieved historic sales records in eight of 20 markets in Western Europe. The biggest European export markets were Great Britain with sales of 41,805 vehicles (up 9.2%) and Spain with 23,742 vehicles (up 11.9%).

Sales in Western Europe (excluding Germany) were up by 5.8% to 170,991 vehicles. However, Audi experienced a contradiction to its general sales trend in its home market with sales in Germany down 5.7% with 114,169 vehicles sold. Audi boosted its sales in Eastern Europe, by 17% to 8,144 vehicles.

Outside of Europe Audi achieved mixed results. Sales in Japan were up and the Middle East proved to be a hot growth area for the company. However, sales were down in China and the US.

The fall in China will concern the company as it comes at a time when rival auto manufacturers are stepping up their Chinese programs. Similarly a sales drop of 7.6% in the largest auto market, the US, will also concern Audi's senior management.

Additionally, car sales by the company's subsidiary Lamborghini almost quadrupled to 922 vehicles.

"Despite very unstable markets and tough competition, we are sticking to our goal of a new sales record in the current year. With the new A6 and the A3 Sportback, which is to be launched in September, we are in an outstanding position going into the second half of the year," commented Prof. Dr Martin Winterkorn, chairman of the board of management of Audi AG.

Source: Datamonitor

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