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Audi sales up 4 pct in Q1

Xinhua, June 1, 2016 Adjust font size:

German car producer Audi AG reported a year-on-year sales increase on Wednesday of four percent in the first quarter.

The company said it had delivered 455,754 automobiles of its brand to customers worldwide over the period.

According to the report, a total revenue of 14.5 billion euros (16.18 billion dollars) was generated in the first three months of 2016, one percent lower than the same period last year.

Audi stated the decline of its revenue was primarily due to disadvantageous exchange rate effects and intense competition in some markets.

In addition, the operating profit amounted to 1.2 billion euros. The operating return on sales was 8.3 percent, the Ingolstadt-based company said.

"Besides exchange rate movements and special items, operating profit also reflects our high advance expenditure," said Axel Strotbek, a member of the board of management for finance and Internet technology.

"Nonetheless, our operating return on sales is within our strategic target corridor of eight to ten percent," he stressed. Endit