Audi report surge in profits

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German car manufacturer Audi has reported a surge in profits for 2010 thanks to some extent to robust growth in sales of luxury vehicles in China and the US.

Net profit for 2010 came in at 2.59bn euros, up 50% on the 1.3bn euros the organization made in 2009 while Income increased 19% to 35.4bn euros.

The car manufacturer was also positive about its prospects for next year.

Audi is the world’s 3rd biggest luxury car manufacturer behind German rivals BMW and Mercedes.

The firm would like to boost sales by 10% in 2010 to 1.2 million units as it seeks to topple BMW as the world’s primary luxury car manufacturer.

“We want to grow in 2011 too,” said Audi CEO Rupert Stadler. “The prospects for 2011 are good.”

In addition to ongoing growth in China and the US, Audi stated it wanted to extend further into emerging markets such as India and Russia.

Audi is one of a number of brands owned by Volkswagen, which itself has said it wants to overtake Toyota as the world’s biggest carmaker.

Source: BBC