Volkswagen AG’s Audi Group walked back its financial targets for the year because of “intense” competition and economic challenges including tariffs in the US.
The sub-division, comprising the Audi, Lamborghini, Bentley and Ducati brands, now expects an operating margin of 4% to 6% for the year, compared with a previous forecast of as much as 7%. Sister brand Porsche AG scaling back its EV ambitions added to the strains, Audi said Friday.
“The situation remains very demanding,” Chief Financial Officer Jürgen Rittersberger said on a call with reporters, noting that the brand is expecting a €1.3 billion ($1.5 billion) ...
