This year will be very productive for Audi, and perhaps as much profitable. The car maker plans to introduce 17 new or revamped models along with the production of an electric version of the R8 sports car.
Audi has been subsidiary of the Volkswagen Group since 1966, and as of today, is its biggest earnings contributor.
The company is planning to invest $30.4 billion in the next five years, with 70% of that sum going for the development of new products and technology. The other 30% will be spent on manufacturing expansion globally, including new factories in Brazil and Mexico.
“We will increase deliveries in all regions of the world, including Europe,” CEO Rupert Stadler said in a speech. He expects 2014 revenue to rise slightly while China, Audi’s biggest market, will exceed 500,000 vehicles for the first time.
Audi, along with Mercedes-Benz, tried to dethrone BMW as the global lead in luxury-car sales. However, the Bavarian giant held the lead for the ninth consecutive year in 2013.
BMW, Audi and Mercedes-Benz are the world biggest luxury-car manufacturers. They all expect bigger revenue in 2014 as their market in China and North America is expected to grow.
Read the full story at Automotive News.