According to the BBC, German carmaker Audi saw a sharp rise in their profits in 2010 – partly thanks to the growth in sales of luxury cars in China and the US.
Net profit for last year is reported to have come in at €2.59bn (£2.23bn; $3.61bn), up by 50% on the €1.3bn made in 2009. Revenue also rose by 19% to 35.4bn. Audi, the world’s third largest luxury carmaker behind BMW and Mercedes, plans to increase sales by 10% this year in a bid to overtake BMW (who currently hold the top position).
Audi Chief Executive Rupert Stadler says, “The prospects for 2011 are good.” Audi plan to expand into emerging markets such as India and Russia, as well as continuing growth in China and the US. Volkswagen, who own Audi, have said they want to overtake Toyota as the world’s biggest carmaker.
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