Audi Said to Revise China Target as Stock Rout Saps Demand - Bloomberg
Audi AG has abandoned a target to sell 600,000 cars this year in China, its biggest sales region, as the country’s stock market rout sapped demand for luxury vehicles, two people familiar with the company’s plans said. Audi’s Chinese sales rose 1. 9 percent to 273,853 cars in the first half. Audi’s Chinese deliveries dropped 5. 8 percent in June, while BMW sales slipped 0. 1 percent. Audi said at the Shanghai auto show in April that its annual sales in China including Hong Kong, which hit 578,932 cars last year, were poised to reach 600,000 for the first time in 2015. Since then, the Chinese auto market has joined a long list... Apple, Caterpillar Audi is China’s best-selling luxury-car maker and the world’s No. 2 after BMW AG. It’s also the biggest profit generator at parent company Volkswagen. The slowing Chinese economy and equity market losses, including the largest three-week selloff since 1992, have also led to concerns about the sales prospects of products as diverse as Apple Inc. BMW Adjusting BMW has “moderately” adjusted the. Source: www.bloomberg.com
