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Investing.com -- Audi (ETR:VOWG) reported a 12.4% increase in first-quarter revenue on Monday, supported by a surge in electric vehicle sales, and reaffirmed its full-year forecast—but noted that the outlook does not factor in potential effects from U.S. import tariffs.
Revenue for the January–March period rose to €15.43 billion, up from €13.73 billion a year earlier.
The German automaker reiterated its 2025 revenue target of €67.5 billion to €72.5 billion and maintained its expected operating margin between 7% and 9%.
However, Audi cautioned that the financial consequences of U.S. tariffs remain unclear and are not yet reflected in its guidance.
"Financial implications of import tariffs, particularly in the United States, cannot be conclusively assessed," Audi said, adding that implications of a March agreement with the company’s works council had not yet been incorporated into the forecast.
Despite the revenue gain, overall vehicle deliveries declined 3.4% in the first quarter, with sales in China dropping 7% amid fierce market competition. Deliveries in North America, excluding Mexico, were down 2.1% to 48,599 vehicles, which Audi attributed to pending model updates. Meanwhile, global sales of electric vehicles (EVs) rose sharply by 30.1%.
Like several other European automakers, Audi is facing challenges from U.S. import duties that are set to significantly raise the cost of exporting vehicles. The company is particularly exposed due to its lack of domestic production facilities in the United States.