Audi posts record profits

Audi made record profits last year, bucking the downward trend within the car industry by posting a 30 per cent increase over 2007.

The company made €2.21bn (£2bn) in 2008 and total turnover increased by 1.7 per cent to €34.2bn. Audi attributed the strong performance to improving sales in Europe, China and India, selling a total of 1,003,469 vehicles. Audi’s sales in the US decreased by 6.1 per cent.

Despite the record sales, Audi has been quick to warn that it is likely to be seriously affected by the economic crisis crippling the car industry. Its sales figures for January and February this year are down 20.3 per cent year on year.

James McKiernan