The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Volkswagen AG’s Audi is setting itself ambitious profitability targets even as the luxury-car division expands its electric-vehicle sales efforts, Der Spiegel reported, citing people familiar with the matter.
Chief Executive Officer Markus Duesmann plans to make Audi the VW group’s biggest profit contributor, targeting a return on sales of more than 11 percent in 2025, up from 5.5 percent last year, the magazine said.
Audi expects to sell more than 2 million cars this year and may target 3 million sold vehicles by 2030, Der Spiegel said. Duesmann sees electric vehicles becoming as profitable as combustion-engine cars in two to three years, the magazine said.