Audi reports growth at the beginning of Q4

Audi reports growth at the beginning of Q4

Audi reports growth at the beginning of Q4 German luxury automaker Audi reported a 1.2% sales growth in the beginning of the fourth quarter with sustained sales increases in North America and China, according to a statement published in trade website Automotive World.

The firm said it sustained positive growth in the US for the 70th month, defying the “negative market trend” growing at a 2.9% clip in the said market last month, compared to the same period in 2015. Deliveries reached a total of almost 170,000 units for the first 10 months of the year.

Canada also proved to be a robust market, registering the highest growth rate for the period, pegged at 10%, with the 2016 total reaching 26,000 deliveries. This reflects a 15% increase over sales recorded in the same period last year.

The Chinese market grew at a marginal .06% in October year on year. Sales neared the 500,000 mark for 2016 to date, which means there were almost 6% more buyers this year compared to the same period last year.

Among others, its A4 model proved to be a strong performer with European deliveries growing at 8.4% in the first month of the quarter.  Growth in the continent averaged 3.6% in the pertinent period.

Further, Audi said in its statement that it expects its entry into the younger market segment with the new Q2 city sport utility vehicle (SUV) to sustain the company’s growth trajectory. The automaker started shipping the new model early November in its European showrooms.

The carmaker posted negative growth in Russia and South America.


Related Stories:
IBA Northeast: Insurify bags major industry award for artificial intelligence-enabled service
Insurers and automakers puzzle over risks of self-driving cars