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Audi Group released its latest financial results on July 29th. According to its data, in the first half of this year, the company's sales revenue was 28.761 billion euros, down 7.76% from the same period last year; operating profit was 2.3 billion yuan, down 16.7% from the same period last year. On July 24th both Daimler and Nissan announced their latest results, with net profits plummeting.

Audi's sales fell in the first half of this year, with terminal sales of 906000 vehicles, down 5 per cent from a year earlier.

It is worth noting that Audi's sales in China grew by 1.9% in the first half of this year, the only market in the world where Audi has seen growth. Audi sold a total of 311900 vehicles in the first half of this year, up 2.1 per cent from a year earlier, according to data released by FAW-Volkswagen Audi. Among them, domestic models Audi A4L and Q5L sold 14256 and 14194 vehicles respectively in June, up 11.7 per cent and 64.7 per cent respectively from a year earlier.

In terms of imported cars, Audi A5 and Audi Q7 sold 2057 and 2413 vehicles respectively, up 76.9% and 85.4% respectively from the same period last year. Audi Sport sold 1957 high-performance models, up 116% from the previous month.

In the face of a decline in all aspects of data, Audi said that with the launch of new cars and the growth of deliveries, revenue in the second half of the year will be higher than that of the same period last year and will remain profitable for the whole year.

With regard to the decline in various data, Audi said that the decline in operating profit in the first half of the year was due to the expansion of the production base, the increase in depreciation and amortization and the increase in labor costs in the past few years. The advance layout of science and technology in the future has also had a negative impact on operating profits. While global sales fell, Audi also explained that it was related to global car demand, excluding light trucks, the number of passenger cars in the US market fell by as much as 9% year-on-year in the first half of the year.

Audi also estimates that the car replacement plan will increase significantly in the second half of this year, with Audi launching upgraded versions of the A4, Q7 and the new model Q3Sportback. In addition, Audi is expanding the layout of plug-in electric cars, including A7 and A8, as well as special models. In the Chinese market, pure electric e-tron and Q8 models will be launched for the first time, while in the US market, a new generation of Q3 will also be launched.

With the launch of new A4, Q7, Q3Sportback, Q8 and other fuel vehicles and new energy models led by Audi e-tron, sales should be boosted.

It is understood that Audi will launch strategic restructuring to accelerate the development of the second half of the year, its strategic restructuring into "consistent", plans to save 15 billion euros between 2018 and 2022. By the end of 2023, Audi plans to spend 40 billion euros on plant, equipment and technology research and development, of which 14 billion euros will be spent on electric travel and self-driving. By 2025, carbon dioxide emissions from vehicles will be 30% lower than in 2015.

Audi's sales have declined in all markets except China in the past six months. The industry believes that the second half of this year is also concentrated, Audi should put the Chinese market in the first place, with the continuous introduction of new cars and new energy vehicles, Audi will further consolidate its position in the Chinese market.

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