"Provided the economic framework does not deteriorate further, we expect operating profit to remain on a par with 2011 despite higher expenses for new products, technologies and expanding production [capacity]," Audi Chief Financial Officer Axel Strotbek said in a statement released to members of the media this morning.
Despite its early market dominance in China, Audi faces increasingly stiff competition from rivals, as well as softening economic growth in the world's largest new car market. The automaker announced earlier this year that its first-half sales increased about 38 percent to 140,000 cars in China and Hong Kong.
Meanwhile, Audi's U.S. market sales are up about 16 percent to 65,000, which makes the market its fourth largest behind China, Germany and the United Kingdom.
Audi is gunning for 1.4 million new cars sales this year, a figure that would break existing global records. So far, it has delivered 733,250 cars across the globe.
