Luxury Cars – Audi Expects Car Sales Rebound After 2009 Profits Drop

Category Business, Sci/Tech | Tuesday, March 9th, 2010

INGOLSTADT, Germany (Dow Jones)–Audi AG (NSU.XE) Tuesday said net profit slumped 40% in 2009 as demand for luxury cars waned amid the economic downturn, but the premium brand and key earnings contributor of Volkswagen AG (VOW.XE) is gearing up for a speedy recovery as it aims this year to return to selling more than a million cars.

“We … plan to deliver over one million Audi vehicles to customers as early as this year, with significantly higher revenue and operating profit than in 2009,” Audi Chief Financial Officer Axel Strotbek said in a statement.

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