Reuters logo
Audi expects new model costs to hit fourth quarter after third quarter profit rise
October 30, 2017 / 8:29 AM / 22 days ago

Audi expects new model costs to hit fourth quarter after third quarter profit rise

BERLIN (Reuters) - Volkswagen’s luxury division Audi said growing costs for upcoming model launches will weigh on fourth-quarter earnings after third-quarter profit and revenue edged up thanks to growing auto sales.

An Audi AICON is pictured during the opening of the Frankfurt Motor Show (IAA) in Frankfurt, Germany September 11, 2017. REUTERS/Kai Pfaffenbach

“With this we are well prepared for a demanding fourth quarter in which advance payments for our forthcoming model offensive will become more strongly noticeable,” Audi said on Monday.

The carmaker said it continues to expect an operating return on sales of between 8 and 10 percent this year, forecasting model sales and revenue to slightly exceed year-earlier levels.

Reporting by Andreas Cremer; Editing by Maria Sheahan

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below