Audi global sales down 17% in Q1 2022, EVs up 66.2%

Audi has its electric vehicle lineup at least partially to thank for its strong Q1, 2022 results, reporting a 66.2 per cent jump in battery electric vehicles delivered for the quarter.

All up, Audi has reported an operating profit of 3.5 billion euros for Q1, 2022, in spite of deliveries for the quarter dropping by around 16.8 per cent or 77,744 units, from 462,828 in Q1, 2021 to 385,084 in the most recent quarter.

Revenue increased to a new first-quarter high of 14.2 billion euros, with Audi reporting a marginal increase in revenue over the 14.06 billion-euro revenue figure it reported in Q1, 2021.

The company says strong growth of battery electric vehicles within the Audi Group, which have jumped 66.2 per cent to a total of 24,236 vehicles, has played a key role this quarter. That’s a significant jump up from the 14,583 battery-electric vehicles (BEVs) it delivered in Q1 last year.

In spite of component shortages and economic uncertainty stemming from the Ukrainian conflict, Audi says its forecasts remain intact for 2022, expecting deliveries of between 1.8-1.9 million vehicles across the group. Jurgen Rittersberger, Audi’s finance and legal affairs board member, said:

“The Audi Group and its brands Audi, Lamborghini, Ducati and Bentley are decisively responding to current challenges; the key financial figures for ths first quarter confirm that we are on the right course.”