Audi launched its Q1 2023 earnings Friday, exhibiting a 43% rise in EV deliveries. The rise comes regardless of a weaker market in China, with total deliveries falling practically 16% YOY within the area.

Audi EV deliveries in Q1 2023

Audi delivered a complete of 34,584 EVs within the first three months of the 12 months, up 43% in comparison with the 24,236 delivered in Q1 2022. The next EV fashions led the expansion:

Consequently, Audi’s whole EV share reached 8.2%, up from 6.2% right now final 12 months. Particularly, Audi noticed rising demand within the US and Europe.

From January to March 2023, Audi doubled the variety of battery electrical autos (BEVs) produced, with 47,660 models in comparison with 22,614 throughout the identical interval final 12 months. The luxurious German automaker says the rise is because of an enhancing provide chain.

Audi says manufacturing in China continues to be down, leading to a sluggish begin to the 12 months. Nevertheless, the corporate did say manufacturing volumes elevated all through the quarter, reaching pre-Covid lockdown ranges (Q1 2022).

With total deliveries rising practically 8%, Audi’s income climbed 18.2% to 16.9 billion euros ($18.6 billion). But, regardless of the top-line development, Audi’s working revenue fell by practically 60% as a consequence of uncooked materials hedges in Q1 2022.

CEO Markus Duesmann defined:

We elevated deliveries of all-electric fashions within the model group by 43 %. This exhibits how engaging our electrical portfolio already is. And with the largest mannequin offensive in Audi’s historical past, beginning with the Q6 e-tron within the second half of the 12 months, we’re offering the proper response to the accelerated development towards electrical mobility.

In March, Audi showcased a “near manufacturing” Q6 e-tron mannequin, which is able to experience on the brand new PPE platform co-developed with Porsche providing an 800V electrical system and highly effective, environment friendly e-motors.

Audi will launch the Q6 e-tron later this 12 months, sparking a brand new BEV period for the model with 4 rings, together with ten totally electrical fashions by late 2025.

Of the automaker’s 43 billion euro (about $47.3 billion) deliberate funding finances over the following 5 years, 28 billion euros ($30.8 billion) might be devoted to new BEV growth and digitalization because it intends to launch electric-only fashions from 2026.