Audi vs SAIC Motor: Revenue, Profit and Business Model
Audi had ~$74B of annual revenue in FY2025 and ~$5.2B of net income. SAIC Motor had ~$91.2B of annual revenue in FY2025 and ~$1.4B of net income.
Latest financial snapshot
Audi
- Latest annual revenue
- ~$74B (FY2025)
- Net income
- ~$5.2B
- Net margin
- 7.0%
- Revenue growth
- +1.4% a year, FY2018–FY2025
SAIC Motor
- Latest annual revenue
- ~$91.2B (FY2025)
- Net income
- ~$1.4B
- Net margin
- 1.5%
- Revenue growth
- -4.2% a year, FY2021–FY2025
Financial summary
Audi
Audi Group revenue was ~$74 billion (65,503 million euros) in 2025, up from 64,532 million in 2024, helped by a higher share of fully electric models and intragroup sales of Cupra vehicles built at the Audi plant in Gyor. Profitability moved the other way: operating profit fell to ~$3.81 billion (3,371 million euros) and the operating margin to 5.1 percent from 6.0 percent, against a 14 percent long-term target for the Brand Group Progressive. United States tariffs cost ~$1.36 billion (1.2 billion euros), with further charges for CO2 compliance provisions, the German agreement for the future, and the rescheduling of a shared group electric platform. Below the operating line the picture is stronger: the financial result rose to ~$2.49 billion (2,203 million euros), including 504 million from the China business, and profit after tax increased to ~$5.22 billion (4,617 million euros) from 4,189 million. Net cash flow rose 11.4 percent to ~$3.87 billion (3,422 million euros). Lamborghini remains the most profitable brand in the group, with ~$3.61 billion (3,197 million euros) of revenue and a 24.0 percent operating margin. As a premium subsidiary of the Volkswagen Group, Audi's standalone valuation is not traded publicly, but it serves as a primary profit driver for its parent company.
SAIC Motor
Revenue peaked at ~$108 billion (CN¥779.8 billion) in 2021, then fell to ~$87.2 billion (CN¥627.6 billion) in 2024 as joint-venture volumes shrank, and net profit dropped to ~$232 million (CN¥1.67 billion) that year. 2025 brought a rebound: revenue rose 4.6% to ~$91.2 billion (CN¥656.24 billion) and attributable net profit rose to ~$1.41 billion (CN¥10.11 billion). In the first half of 2026 revenue was flat at ~$41.5 billion (CN¥298.65 billion), net profit fell 14.4% to ~$716 million (CN¥5.15 billion), and operating cash flow rose 158% to ~$7.55 billion (CN¥54.3 billion). The board proposed a 2025 cash dividend of CN¥2.66 per 10 shares, about $423 million (CN¥3.04 billion) in total. SAIC Motor Corporation Limited is a colossal Chinese state-owned automotive design and manufacturing company, sustaining a market valuation typically exceeding $20 billion.
Revenue and profit by year
Audi
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$74B | ~$5.2B | 7.0% | +1.5% | Source |
| FY2024 | ~$72.9B | ~$4.7B | 6.5% | -7.6% | Source |
| FY2023 | ~$78.9B | ~$7.1B | 9.0% | +13.1% | Source |
| FY2022 | ~$69.8B | ~$8B | 11.5% | +16.4% | Source |
| FY2021 | ~$60B | — | — | +6.2% | Source |
| FY2020 | ~$56.5B | — | — | -10.2% | Source |
| FY2019 | ~$62.9B | — | — | -6.0% | Source |
| FY2018 | ~$67B | — | — | — | Source |
SAIC Motor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$91.2B | ~$1.4B | 1.5% | +4.6% | Source |
| FY2024 | ~$87.2B | ~$231.6M | 0.3% | -15.7% | Source |
| FY2023 | ~$103.5B | ~$2B | 1.9% | +0.1% | Source |
| FY2022 | ~$103.4B | ~$2.2B | 2.2% | -4.6% | Source |
| FY2021 | ~$108.4B | ~$3.4B | 3.1% | — | Source |
Where the revenue comes from
Audi
- Audi brand vehicles and aftersales~90%
Audi-badged cars and the parts, service and accessories that follow them account for about $66.4 billion (58.8 billion euros) of the group's ~$74 billion (65,503 million euros) of 2025 revenue, once the separately reported Lamborghini, Bentley and Ducati figures are deducted. Volume fell 2.9 percent to 1,623,551 cars, but mix improved: fully electric models reached a record 223,032 units, up 36 percent, and the group also books intragroup sales of Cupra vehicles built under contract at the Audi plant in Gyor. Audi does not publish a model-level revenue split; the disclosed volume drivers for 2025 were the Q6 e-tron at roughly 84,000 units and the A6 e-tron at roughly 37,000.
- Automobili Lamborghini~5%
Lamborghini contributed ~$3.61 billion (3,197 million euros) of revenue in 2025, up from 3,095 million in 2024, on 10,747 deliveries. It is the most profitable brand in the group, with ~$868 million (768 million euros) of operating profit and a 24.0 percent operating margin, down from 27.0 percent the year before. Its earnings flow directly into Audi Group results and offset the thinner margin on volume cars.
- Bentley Motors~4%
Bentley added ~$2.95 billion (2,615 million euros) of revenue in 2025 on 10,131 deliveries, slightly below 2024 on both counts. Operating profit fell to ~$244 million (216 million euros), an 8.3 percent margin against 14.1 percent in 2024, which Audi attributed to challenging market conditions in the luxury segment.
- Ducati~1%
Ducati contributed ~$1.05 billion (925 million euros) of revenue in 2025 on 50,895 motorcycles, down from ~$1.13 billion (1,003 million euros) and 54,495 units in 2024. Operating profit fell to ~$58.8 million (52 million euros), a 5.6 percent margin against 9.1 percent a year earlier.
SAIC Motor
- Vehicle sales (own brands and consolidated JVs)
Not formally reported
Sales of MG, Roewe, IM Motors, Maxus and Wuling vehicles in China and overseas.
- Auto parts (HASCO / Huayu Automotive)
Not formally reported
Interiors, lighting, chassis, thermal and e-drive parts sold to SAIC and other carmakers.
- Joint-venture investment income
Not formally reported
SAIC's share of profits from 50:50 joint ventures with Volkswagen and General Motors.
- Finance, logistics and mobility services
Not formally reported
Auto loans and dealer financing, Anji Logistics vehicle transport, and mobility services.
Business model and strategy
Audi
How it makes money
Audi designs, builds and sells premium cars, and heads the Volkswagen Group's Brand Group Progressive, which also contains Bentley, Lamborghini and Ducati. Its economics rest on shared group architectures: MLB Evo for longitudinal-engine models, MEB for entry electric cars, and the 800-volt Premium Platform Electric co-developed with Porsche.
Growth strategy
Audi's growth plan has three legs. First, a compressed model offensive: more than 20 new models arrived across 2024 and 2025, and the 2026 additions are led by the Q9, the A2 e-tron, the third-generation Q7, the reworked Q4 e-tron and the RS 5. Second, electrification on the 800-volt Premium Platform Electric built with Porsche, which underpins the Q6 e-tron and A6 e-tron;
Competitive advantage
Audi's main structural advantage is that it does not carry premium-car development costs alone. It shares platforms, electronics and powertrains with Porsche and Volkswagen, which is how a brand selling about 1.6 million cars a year can fund an 800-volt electric architecture.
SAIC Motor
How it makes money
SAIC makes money mainly by building and selling vehicles. Revenue is consolidated from its own brands (MG, Roewe, IM Motors, Maxus/LDV), from consolidated joint ventures, and from parts maker HASCO (Huayu Automotive Systems).
Growth strategy
SAIC's growth plan centres on its own brands and overseas markets. MG is the export spearhead, with local assembly in Thailand, Indonesia and India and plans for more local production to work around tariffs. At home, SAIC is moving Roewe, MG and IM Motors onto new EV and plug-in hybrid platforms, and working with partners such as Huawei, Audi and Alibaba on software and premium models.
Competitive advantage
SAIC's advantages are scale, a long head start in exports and a well-known Western brand. MG gives it an established dealer network in the UK, Europe, Australia, India and the Middle East. It also has backing from the Shanghai government, its own parts supplier in HASCO, its own car logistics arm in Anji Logistics, and four decades of manufacturing know-how from working with Volkswagen and GM.
Questions about Audi vs SAIC Motor
Which company has higher revenue — Audi AG or SAIC Motor?
Audi AG had ~$74B (FY2025), while SAIC Motor had ~$91.2B (FY2025). By latest annual revenue, SAIC Motor is the larger business, with Audi AG showing a smaller revenue base.
What is the market cap of Audi AG vs SAIC Motor?
SAIC Motor has a market capitalisation of $17.0B. A public market cap figure for Audi AG was not available (it may be privately held).
How does revenue per employee compare for Audi AG and SAIC Motor?
Audi AG has $841k / employee in revenue per employee, while SAIC Motor has $507k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Audi AG and SAIC Motor make money?
Audi AG and SAIC Motor generate revenue in fundamentally different ways. Audi AG: Audi designs, builds and sells premium cars, and heads the Volkswagen Group's Brand Group Progressive, which also contains Bentley, Lamborghini and Ducati. SAIC Motor: SAIC makes money mainly by building and selling vehicles.
Is Audi AG bigger than SAIC Motor?
By last reported revenue, SAIC Motor (~$91.2B (FY2025)) is the larger company compared to Audi AG (~$74B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Audi vs SAIC Motor overview