Audi AG
Automotive Manufacturing / Premium VehiclesFounded 1909- Updated June 2026
Reviewed by Swet Parvadiya
Last reviewed: June 2026
CorpDigest
Audi AG
Financial Performance
Last reviewed: June 2026 · By Swet Parvadiya
Revenue
$73.0B
Market Cap
$65.0B
Net Income
$5.4B
Employees
88,500
Audi AG generated $73 billion in revenue in FY2024, down from $75 billion in 2023 as Chinese market demand for premium German vehicles softened materially. The $34 billion investment in electrification and software development between 2024 and 2028 is both a necessity and a risk. Audi's revenue declined from $75 billion in 2023 to $73 billion in 2024, driven primarily by Chinese market softness. Net income of $5.4 billion in FY2024 on $73 billion in revenue is a 7.4% net margin. The Financial Services segment — Audi's captive leasing and financing operation — contributed approximately $8.7 billion in revenue at higher return on equity than the manufacturing business, because interest income on lease portfolios compounds in ways that vehicle gross profit does not.
Revenue Trend Analysis
YoY Change
-2.7%
2-Year CAGR
+8.5%
Peak Year
2023
Trend
Mostly Growing
Audi AG has reported revenue across 3 fiscal years, compounding at +8.5% annually over 2 years. The most recent year saw a 2.7% decline versus the prior year. Revenue peaked in 2023 at $75.0B. Out of 2 reported periods, 1 showed growth and 1 showed a decline.
| Fiscal Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2024 | $73.0B | $5.4B | -2.7% |
| FY2023 | $75.0B | — | +21.0% |
| FY2022 | $62.0B | — | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.
Click any row to see year details.
Audi's $5.4 billion net income derives from premium vehicle sales commanding higher margins than mass-market cars, with profitable SUVs like the Q5 and Q7 and performance models contributing strong profitability, supported by VW Group's shared-platform cost efficiencies. The premium positioning allows Audi to earn solid operating margins, though these trail Porsche's and face pressure from EV transition costs and Chinese competition. Net income benefits from Audi's scale within VW Group, financial services profits, and pricing power in key markets, though the expensive shift to electrification and softening China demand create headwinds that management must navigate to sustain profitability.
Audi committed roughly $34 billion (around 30 billion euros) toward electrification and digitalization to transition its lineup to electric vehicles, responding to tightening emissions regulations, the industry's EV shift, and competition from Tesla and Chinese makers. This massive investment funds new electric models on dedicated platforms like PPE, battery technology, software development, and manufacturing conversion, with Audi targeting to phase out combustion engines and sell only EVs in major markets within roughly a decade. The spending reflects the capital intensity of the EV transition, pressuring near-term margins but deemed essential to remain competitive as premium buyers and regulations move toward electric.
Audi's margins face pressure from the enormous costs of transitioning to electric vehicles—the $34 billion electrification investment, EV development, battery sourcing, and lower initial margins on electric models compared to established combustion vehicles. Building new EV platforms, retooling factories, and developing software while battery costs remain high compresses profitability during the transition, even as Audi must maintain combustion-vehicle profits to fund the shift. This margin squeeze, common across legacy automakers electrifying their fleets, is compounded by Chinese EV competition undercutting prices, forcing Audi to balance heavy investment against profitability while scale and battery cost declines have yet to fully materialize.
Within Volkswagen Group, Audi has historically been a major profit contributor as a premium brand earning higher margins than mass-market VW vehicles, though it trails Porsche's superior profitability and luxury positioning. Audi's earnings help fund VW Group's broader investments, and its premium pricing delivers margins above the namesake Volkswagen brand. However, Audi's profitability has come under pressure from China weakness, EV transition costs, and intense premium competition, narrowing its contribution and prompting cost-cutting. The brand remains strategically vital to VW Group's profits, sitting in the premium tier that subsidizes group operations, but must improve performance to maintain its financial importance amid industry disruption.
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CorpDigest. "Audi AG Revenue & Financials." CorpDigest, https://corpdigest.com/company/audi/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Audi AG reported $73B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/audi/financials" target="_blank" rel="noopener">CorpDigest — Audi AG financials</a></div>