Even in this economy, it IS possible to make money in the automotive market. Turns out all you need is a great product, worldwide growth, and a solid business plan.
For most of the last year we’ve heard nothing but reports of declining sales and billions of dollars in losses. Just check out these final tallies for 2008:
Toyota’s 2008 loss: $4 billion
Chrysler’s 2008 loss: $8 billion
Ford’s 2008 loss: $14 billion
GM’s 2008 loss: $31 billion
Audi’s 2008 profit: $3 billion
Wait, what was that last one? Audi made a PROFIT? Let me check my sources to make sure that’s not an error… Yup, it’s true!
Not only did they make money in 2008, but Audi CEO Rupert Stadler said:
2008 was the most successful fiscal year in the history of our company.
That’s incredible. What’s even more remarkable is that they did it by selling luxury vehicles and offering less sales incentives than other premium carmakers; all while increasing their sales in China, Eastern Europe, Germany, and the U.S.
Pretty dang impressive!
Audi is staying optimistic about keeping their momentum going as the hot new 2009 A4 and 2009 Q5 hit showroom floors, followed in 2010 by the smaller A1. Those models should keep their streak of 13 straight years of sales increases going strong.
Audi is a company that has come a long way since the days of the Audi 80, and seems to be the car company to watch. Of course, being owned by Porsche and Volkswagen (who have world domination plans of their own) isn’t going to hold them back at all.
Have you ever owned an Audi? What do you think of the brand today?