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In the first half of this year, the auto market was depressed, whether it was self-owned brands, joint venture brands or luxury brands, and Audi Group's revenue and profit declined in the first half of the year after Daimler Group suffered quarterly losses.

According to Audi's official financial report, in the first half of this year, Audi's sales revenue was 28.76 billion yuan, down 7.8% year-on-year; operating profit was 2.3 billion yuan, down 16.7% year-on-year; net cash flow in the first half of this year was 2.25 billion euros, down 15.7% year-on-year, and operating sales reporting rate was 8.0%;

Audi director Song Yinzhe said sales revenue would rise from last year as Audi brand deliveries grew steadily. In addition, Audi forecasts profitability for the full year 2019, with an expected return on operating sales of 7.0% to 8.5%, net cash flow of € 2.5 - 3 billion for the full year and a higher proportion of R & D spending than the target range of 6.5%-7.0%.

Sales revenue and operating profit in the first half of the year were lower than in the same period last year, in large part because the import vehicle business of several brands was separated from Audi's finances. The implementation of global light vehicle testing procedures, numerous vehicle upgrades, and the downturn in the global passenger car market continued to have a negative impact on Audi's performance. Audi, meanwhile, is investing heavily in planning for future mobility.

In addition to market weakness, WLTP car market and other factors, Audi profit decline is also due to Audi in previous years to expand the production network, production network depreciation is higher, personnel costs have also increased. High investment in new technology in the early stage also had an impact on the decline in profits. In the first half of this year, Audi's R & D expenditure accounted for 7.7% of operating revenue, up 1.2% year-on-year.

In the first half of this year, Audi delivered a total of 906,000 Audi cars to customers, down from last year. However, O.

Combined with specific models, as FAW Audi's main model A6L, sales fell in June after replacement in January, and its sales volume in June was only 4979 vehicles, with sales volume nearly halved. In April just replaced Q3, its monthly sales of only more than 3,000 vehicles, May sales also nearly cut. However, Audi A4L, Q5L and Q2L models performed well in June, and the sales volume of Audi imported models nearly doubled in June. With Audi Group's sixth consecutive launch of pure electric Audi e-tron and Audi Q8 models in the second half of the year, Audi is still likely to seize market share.

In May, Audi's management board presented a strategic restructuring plan at its annual shareholders 'meeting, which will make reducing carbon emissions a central priority within the group, including a strong push to electrify the model lineup. By the end of 2023, Audi plans to invest about 40 billion euros in advance.

Song Yinzhe said that in the second half of this year, the strategic restructuring plan will be vigorously promoted, hoping to further stabilize Audi's performance in a severe environment. And with the challenges posed by the upcoming second phase of the global light vehicle market regulation, which has maintained substantial preparations in recent months, the next step will be to focus on reducing related inventories.

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