Audi Group 2025 results: revenue rises as Trump tariffs squeeze margins

Within the Volkswagen Group, Audi is more than just another badge in the German giant’s line-up: it also operates as a group in its own right. Alongside Audi, it brings together Bentley, Lamborghini and Ducati.

Audi Group results for 2025

The Group presented its 2025 financial results yesterday, 17 March, and the picture was mixed. Revenue edged up to €65.5 billion (+1.5%), but profitability was squeezed by the direct impact of mounting global trade tensions.

Operating profit (revenue minus operating costs) fell by 13.6%, dropping from €3.9 billion (in 2024) to €3.4 billion in 2025. As a result, the operating margin slipped to 5.1% (down from 6% in 2024).

The financial result was stronger. After tax, income from financial activity (interest, investments and holdings) at the Audi Group effectively doubled (+100.82%), rising from €1.097 billion in 2024 to €2.203 billion in 2025. Of that amount, €504 million came from China.

Net profit - operating profit plus the financial result, after tax - reached €4.617 billion in 2025, representing an increase of 10.2% compared with €4.189 billion in 2024.

Those figures enabled Audi to share profits with employees at its German plants after what it described as a particularly demanding year. Each worker will receive €1740, plus a further €1100 paid into the manufacturer’s pension fund. In total, each employee receives €2840.

The Trump factor

Even with the more encouraging headline numbers, the decline in operating profit and operating margin in 2025 is a clear concern. The outcome was heavily shaped by external influences, most notably the US trade tariffs imposed by Donald Trump’s administration. On their own, these cut €1.2 billion from operating profit.

“Audi delivered a resilient performance under difficult conditions in 2025. American tariffs, in particular, had a significant impact on us”.

Jürgen Rittersberger, Audi Chief Financial Officer

On top of that hit, the Group booked costs linked to provisions for meeting emissions targets, as well as the rescheduling of a jointly developed electric platform for the Group’s D segment. This helps explain why the Audi A8 is expected to end production this year without a successor ready to step into its place.

Electric offensive and brand performance

A key shift in 2025 came from Audi’s electric push. The brand delivered more than 223,000 electric vehicles, up 36%, driven by the strong start for the new Q6 e-tron (approximately 84,000 units) and the A6 e-tron (approx. 37,000 units). Across the Group as a whole, deliveries totalled 1.623 million cars, a modest decline of 2.8% year on year.

Lamborghini remained the “crown jewel” in efficiency terms, holding an operating margin of 24% (27% in 2024). By contrast, Bentley and Ducati faced tougher conditions, with sharper drops in both margins and deliveries.

Expectations for 2026

For the current year, chief executive Gernot Döllner is forecasting growth. The company expects the operating margin to recover to a range between 6% and 8%, supported by higher revenue of €63–68 billion.

The 2026 outlook is built around three strategic pillars: new models, the China strategy and Formula 1.

• New models: highlights include the Q9, the brand’s new flagship SUV aimed more squarely at the North American and Chinese markets; and the A2 e-tron, positioned as the entry point to the brand’s electric line-up.
• China: the plan rests largely on strengthening the “AUDI” brand with the launch of the E7X electric SUV, following the introduction of the E5 Sportback.
• Formula 1: the official debut in the sport with the Audi Revolut F1 Team is expected to deliver visibility and recognition.

The comparatively solid 2025 performance at the Audi Group also reflects the restructuring programme under way to bring costs down.

That programme stems from an agreement reached last year between Audi’s Board of Management and its Works Council. Implementation is now progressing, the Group says, in line with the plan. It includes cutting 6,000 jobs by 2027, with 65% of the target already achieved, alongside a further reduction of 1,500 roles by 2029.