Audi AG

Interim Report of AUDI AG

    Ingolstadt (ots) -
    
    Dear Colleagues,
    
    Audi has started the second half of 2000 with a flourish. Audi
will produce a total of around 650,000 vehicles this year, its sales
revenues are expected to increase to more than DM 30 billion.
    
    All key figures for the first six month are at a high level. For
your information please find enclosed the interim Report.
    
    Yours
    Audi Business Press
    
    Interim Report of AUDI AG
    
    Audi markets
    The Audi Group sold 345,140 cars in the first half of 2000; this
represents an increase of 7.6 percent on the corresponding period of
1999. This total was made up of 345,003 Audi and 137 Lamborghini
cars.
    
    Whereas vehicle sales in Germany fell by 7.9 percent in the first
six months to 125,122 Audi vehicles, elsewhere Audi was able to
report sales of 219,881 cars; this is 19.1 percent up on the figure
for January to June 1999.
    
    Demand for cars with the four-ring badge in the USA was
particularly high: the market for imported vehicles grew by just over
14 percent - sales of Audi vehicles in the first half of 2000 soared
by 42.9 percent.
    
    This pattern was mirrored by the Japanese car market: although
sales of foreign imports remained virtually constant, Audi sold 3,576
cars in the land of the rising sun, 17.0 percent more than in the
first half of 1999.
    
    Audi sales in China up to the end of June more than doubled
compared with the prior-year period, with 8,374 cars delivered to
customers. The Changchun-built version of the Audi A6, which was
launched on the Chinese market in January 2000, has been instrumental
to this success.
    
    Audi cars were also in considerable demand in Great Britain and
France: sales in these two countries rose by 17.1 and 23.3 percent
respectively. The British market as a whole expanded slightly in the
year-on-year comparison, and the French market grew by over 17
percent.
    
    Major markets - Audi vehicles
    
                          Vehicle sales 1-6/2000         % change on
    Germany                  125.122                            -7,9
    USA                          40.372                            42,9
    Great Britain          23.216                            17,1
    Spain                        22.480                              8,8
    Italy                        22.099                            -7,9
    France                      19.155                            23,3
    Belgium                    10.936                              2,7
    Switzerland                9.139                            11,1
    Austria                      8.482                              0,1
    China                         8.374                          126,6
    Netherlands                7.094                              9,6
    Sweden                        6.809                            18,0
    
    Increased vehicle production
    In the first six months of 2000, the Audi Group manufactured
327,301 cars. Production was thus stepped up by a further 3.9 percent
on the prior-year period. This total was made up of 327,167 Audi
models and 134 Lamborghini Diablos.
    
    In Ingolstadt, Audi built 191,093 A3 and A4 models. 104,892 cars
left the assembly lines in Neckarsulm where, in addition to the A6
and A8, the A2 and allroad quattro are now being built. The Rheine
plant of Wilhelm Karmann GmbH produced 2,001 Audi Cabriolets. AUDI
HUNGARIA MOTOR Kft. in Györ built 29,181 of the Audi TT Coupé and
Audi TT Roadster jointly with the Ingolstadt plant.
    
    In the anniversary year - 20 years on from the market launch of
the quattro - almost every third Audi was supplied with this drive
principle. Almost 40 percent of Audi models have a TDI engine.
    
    Production output of engines in the first half of 2000 totalled
631,197 units, just short of the prior-year figure. AUDI HUNGARIA
MOTOR Kft. manufactured 543,060 engines, and AUDI AG 86,204. COSWORTH
TECHNOLOGY LIMITED built 1,799 engines for passenger cars, and
Automobili Lamborghini S.p.A. 134 engines for sports cars.
    
    Higher sales revenues
    The Audi Group's sales revenues for the first six months showed an
improvement of 10.7 percent on the corresponding period of 1999,
rising to DM 15,905 million. This development was attributable to
higher unit sales and more exclusive equipment specifications. The
advantageous exchange rate for exports to countries which are not
part of the European Monetary Union also had a beneficial effect on
sales revenues.
    
    Earnings before taxes at the end of June 2000 were DM 750 million,
a shortfall of 6.9 percent on the previous year. This is principally
due to the fact that COSWORTH TECHNOLOGY LIMITED and the Lamborghini
Group had not yet been included in the consolidated first-half
accounts for 1999. Both companies are still undergoing restructuring
and therefore have a negative effect on earnings at present.
    
    Audi stepped up its already high level of capital investments by
17.3 percent, to DM 1,220 million, in the period under review.
Through a comprehensive product portfolio, the strengthened position
in export markets, the systematic updating and extending of
production facilities and a modern, innovative human resources
policy, Audi has established the basis for further sound growth.
    
    Audi creates more jobs
    In particular as a result of the launching of new products, the
Audi Group workforce expanded by 4.0 percent in the first half of
this year. At the end of June, the Audi Group had 48,402 employees.
Of this total, 42,892 were employed by AUDI AG, 4,331 by AUDI
HUNGARIA MOTOR Kft., 738 by COSWORTH TECHNOLOGY LIMITED and 427 by
the Lamborghini Group.
    
    Key Figures
    AUDI Group
    
                                                  1-6/2000    1-6/1999    Change in %
    Production*
                  Cars                          327.301      314.898         3,9
                  Engines                      631.197      632.641        -0,2
    Vehicle sales*    
                  Cars                          345.140      320.662         7,6
                  Western Europe          269.512      269.216         0,1
                  of which Germany        125.157      135.906        -7,9
                  Rest of world              75.628        51.446        47,0
    Sales revenues
                  DM million                  15.905        14.371        10,7
                  EUR million                  8.132         7.348              
    Earnings before taxes
                  DM million                        750            806        -6,9
                  EUR million                      384            412    
    Capital investments
                  DM million                    1.220         1.040        17,3
                  EUR million                      624            532    
    Depreciation
                  DM million                    1.206            921         30,9
                  EUR million                      617            471    
    Cash-Flow    
                  DM million                    1.558         1.337         16,5
                  EUR million                      797            683    
    Employees*        
                  Average                        47.892        45.007          6,4
    
    * Figures for the first half of 1999 have been adjusted to reflect
the current reporting entity.
    
    Key Figures
    AUDI AG
    
    
                                                 1-6/2000    1-6/1999 Change in %
    Sales revenues
                      DM million              15.565        14.167            9,9
                      EUR million              7.958         7.243    
    Earnings before taxes
                      DM million                  595            647          -8,1
                      EUR million                 304            331    
    Employees
                      Average                  42.415        40.195            5,5
    
    Note to editorial staff: The full Interim Report is available by
telephone ++49 841 89 36189, post or e-mail (PDF-Data). In addition
you can find the Interim Report in the Internet at www.audi.com.
    
    
ots Originaltext: Audi AG

Contact:
Communication: Corporate and Finance
Joachim Cordshagen, Tel: +49 (0) 841 89 36340, Fax: +49 (0) 841 89
36370
e-mail: joachim.cordshagen@audi.de
Juergen De Graeve, Tel: +49 (0) 841 89 34084, Fax: +49 (0) 841 89
36370
e-mail: juergen.degraeve@audi.de

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