Audi cuts forecast and plans further savings after profit plunge
Friday 30th October 2026 on 10:45 in
Bavaria
Audi has lowered its full-year revenue forecast and pledged further cost-cutting after its third-quarter profit fell 87 percent, BR reported. The carmaker, part of the Volkswagen Group, earned 95 million euros in the quarter, compared with 718 million euros a year earlier.
For the first nine months of the year, Audi reported profit of 1.15 billion euros, down from 1.56 billion euros in the same period last year. Revenue fell by 6 billion euros to 42 billion euros.
The company now expects full-year revenue of 55 billion to 59 billion euros, revising down a forecast of 58 billion to 63 billion euros it gave in July.
Audi said its business was being affected by a sharp downturn in China, particularly for cars with combustion engines, intensifying competition and growing pressure from Chinese manufacturers exporting to Europe. It also cited uncertainty linked to the Middle East situation, higher energy costs and US tariffs. Audi has no factory in the United States, which finance chief Jürgen Rittersberger described as the world’s second-largest premium car market. The company expects new Q7 and Q9 SUV models to support sales there.
Rittersberger said Audi expected a significantly stronger fourth quarter, but added that the company needed to reinforce its cost-cutting efforts. Audi plans to focus on cost discipline, reduce complexity and make its structures more efficient.
The company has not specified what the further measures will mean for its German locations. It said steps to protect competitiveness and jobs would be developed with the works council. A 2025 agreement already includes plans to cut thousands of jobs in Germany. Further savings are being discussed, including the possible closure of Audi’s Neckarsulm factory. Earlier this month, Audi said it would invoke a clause requiring management and the works council to negotiate savings if business conditions deteriorate significantly.
Chief executive Gernot Döllner also remains under criticism after appearing with US President Donald Trump during talks about a planned Audi factory in Georgia. Trump announced the plans at a campaign event and invited Döllner onto the stage.