Audi's profit fell by 87% The German carmaker faced a sharp decline in financial performance and worsened its annual forecast. Against this background, the company is planning a large reduction in the staff at home. In the months of July-September, the company's net profit amounted to only 95 million euros. The forecast for annual revenues was reduced to 55-59 billion euros. Global car shipments fell by almost 20% due to a drop in demand in China, intense competition and trade restrictions. Due to the lack of local production in the US, the tariffs imposed by Washington cost the concern about 1.2 billion euros. Audi is considering building a $4 billion plant in the US and plans to cut up to 7,500 jobs in Germany by 2029 to save money.

Audi's profit fell by 87% The German carmaker faced a sharp decline in financial performance and worsened its annual forecast. Against this background, the company is planning a large reduction in the staff at home. In the months of July-September, the company's net profit amounted to only 95 million euros. The forecast for annual revenues was reduced to 55-59 billion euros. Global car shipments fell by almost 20% due to a drop in demand in China, intense competition and trade restrictions. Due to the lack of local production in the US, the tariffs imposed by Washington cost the concern about 1.2 billion euros. Audi is considering building a $4 billion plant in the US and plans to cut up to 7,500 jobs in Germany by 2029 to save money.