Budgets

Audi, 2025 ends with growing sales and small losses

Despite a slight drop in deliveries, the Ingolstadt Group's internal restructuring is paying off with the after-tax result at EUR 4,617 million compared to EUR 4,189 million twelve months earlier.

by Simonluca Pini

17 March 2026

4' min read

Translated by AI

Versione italiana

4' min read

Translated by AI

Versione italiana

The year 2025 closes for the Audi Group with a rosier financial situation than assumed in the middle of last year. The group led by Gernot Döllner is containing the damage caused by American tariffs, the crisis in China and the global geopolitical situation with a turnover that has risen to 65.5 billion euros compared to 64,532 in 2024 against a slight case of sales that have risen from 1,692,548 deliveries to 1,644,429 at group level. There was also a plus sign for net cash flow, which rose to €3,422 million compared to €3,072 million in '24, and profit after tax to €4,617 million compared to €4,189 million in the previous twelve months. The minus sign, on the other hand, for the operating result which dropped from Euro 3,903 million in '2024 to Euro 3,371 million in '25 and the operating margin on sales from 6% to 5.1%. "Geopolitical uncertainties and global competitive pressure kept the automotive industry on its toes again last year," says Audi CEO Gernot Döllner. "In this context, Audi provides the right answers and takes bold steps. In 2025, we launched the first model of the sister brand exclusively for China, which offered a preview of a consistently clean design. In 2026 we will continue our renewal: we will bring important new models to market, focus on strong partnerships and debut in Formula 1. In this way we continue to gain speed in the context of global competition.

1.2 billion spent due to US tariffs

In 2025, the Audi Group's sales revenue rose to 65,503 (2024: 64,532) million euros. Key drivers include a higher share of fully electric models. Last year, operating profit stood at EUR 3,371 (2024: 3,903) million. In particular, US tariffs weighed on the result to the tune of EUR 1.2 billion, as did charges for provisions in connection with CO2 legislation as well as the settlement for Audi's future. There were also charges from the reprogramming of an electric platform for the D-segment to be jointly developed at group level. In 2025, the operating margin on sales decreased correspondingly by 5.1% (2024: 6.0%). At EUR 3,422 (2024: 3,072) million, net cash flow exceeded the previous year's value. The increase of 11.4% is also the result of good cost work and good discipline in terms of investments. All key financial indicators were thus within the expected range of the adjusted annual forecast during the year.

Financial result, result after tax

The Audi Group's financial result in the financial year 2025 amounted to EUR 2,203 (2024: 1,097) million. The financial result included 504 (2024: 651) million euros from operations in China. In 2025, earnings after tax rose to EUR 4,617 (2024: 4,189) million.

Audi Group, Outlook 2026

For the current year the Audi Group expects sales revenues of between 63 and 68 billion Euro. The operating margin on sales is expected to be in the range of 6 to 8 per cent. The four-ring group expects a net cash flow in the range of EUR 3 to 4 billion.

Delivery volumes

On the delivery front, the group of brands in the Progressive cluster consisting of Audi, Bentley, Lamborghini and Ducati recorded stable results in terms of deliveries: in 2025, the group delivered 1,644,429 cars (2024: 1,692,548) and 50,895 motorbikes (2024: 54,495). The Audi brand delivered 1,623,551 cars (2024: 1,671,218). From September to the end of the year, worldwide deliveries exceeded the previous year's value in every single month. The growth was most notable in relation to fully electric vehicles: 223,032 electric cars delivered under the Audi brand (2024: 164,480) represent a growth of 36 per cent over the previous year. Thus, for example, the new Audi Q6 e-tron (approx. 84,000 units) and Audi A6 e-tron (approx. 37,000 units).

Audi A2 e-tron and Q9 coming soon

After more than 20 new models in 2024 and 2025, Audi continues to launch new models in 2026. The first novelty will be the Audi Q9, a maxi hybrid SUV expected by the end of the year and destined mainly for the North American market. The second novelty will come in the form of the Audi A2 e-tron, ready to be unveiled in the summer and due on the road by January 2027. It is an all-electric compact car, styled after the A2 of the past. Also coming, the third generation Audi Q7, Q4 e-tron restyling and RS 5.

Over 65% of exits already carried out or agreed

In 2025, Audi's Board of Management and Works Council concluded the agreement for the future to ensure the future sustainability and competitiveness of the German plants. Of the planned reduction of up to 6,000 jobs by 2027, 65 per cent have already been implemented or bindingly agreed upon. By 2029, the company expects a reduction of up to 1,500 additional jobs through age-related exit schemes. The employment guarantee until the end of 2033 agreed upon at the same time, as well as the investments in the German plants until 2029, represent a strong commitment to Germany as an economic location.

Bonus to employees

Not only cuts also bonuses. The employees at Audi's German plants received a profit share of EUR 1,740. This is based on the calculation formula laid down in the collective agreement, which is based, among other things, on the operating result. In addition, EUR 1,110 per employee is allocated to the company pension fund. Consequently, the total amount for a skilled worker is EUR 2,840.

Results 2025 Bentley, Ducati and Lamborghini

In 2025 Bentley delivered 10,131 (2024: 10,643) cars to customers under challenging market conditions. Sales revenue stood at EUR 2,615 (2024: 2,648) million. Operating profit stood at €216 (2024: 373) million, while the operating margin on sales reached 8.3% (2024: 14.1%). Ducati delivered 50,895 motorbikes last year (2024: 54,495). Sales revenue stood at €925 (2024: 1,003) million. Operating profit fell to €52 (2024: 91) million, while the operating margin on sales stood at 5.6% (2024: 9.1%).

Lamborghini hdelivered 10,747 vehicles (2024: 10,687) and thus slightly exceeded the previous year's figure. Sales revenue rose to EUR 3,197 (2024: 3,095) million. Operating profit stood at EUR 768 (2024: 835) million. The operating margin on sales was 24.0% (2024: 27.0%).