Audi 2011 Annual Report Download - page 187

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The Company expects to see registrations of new cars in Western Europe decline yet again in 2012.
The Audi Group believes that almost all Western European car markets will remain flat or contract.
Growing uncertainty among consumers as a result of the sovereign debt crisis in the eurozone is
likely to be a major negative factor. The resulting consumer reticence will probably spill over into
the German car market in 2012 and cause a slight dip in registrations of new cars. Assuming the
economic environment in Western Europe regains its stability, the Audi Group believes demand
for cars there will rise in 2013.
Central and Eastern European countries are likely to see a weakening of the previous year’s high
rate of growth. The Audi Group expects that sales in the Russian car market in particular will show
only slight year-on-year growth. A major factor behind this development is the withdrawal of
state aid, which played a key role in the high market growth of 2011. The region’s markets are
then likely to regain momentum in 2013.
On the back of moderate economic growth in the United States, the upward trend in demand for
cars will probably continue in 2012 and 2013. However, the market’s development will continue
to be held back by lenders’ restrictive practices for vehicle financing and by high fuel prices.
The Audi Group believes that demand for cars in the Asia-Pacific region will continue to rise in
2012, growing at a slightly slower rate in 2013. The previous upward trend in the Chinese car
market is expected to continue in 2012 and 2013. However, high fuel prices, more stringent
emission standards and restricted access to urban areas may slow down market development.
On the other hand, the Company anticipates faster growth for India’s car market in 2012 com-
pared with the previous year. The upward trend will then intensify once again in 2013. In Japan,
the Audi Group expects new car registrations in 2012 to recover from the previous year’s slump,
because the natural disaster created a backlog of replacement demand that could not be met in
2011. This growth in demand should continue in 2013.
Anticipated development of the Audi Group
The global economy as a whole continued to grow in the past fiscal year. Weaker activity since the
second half, the general uncertainty about the economy’s direction – especially bearing in mind
the debt crisis in many countries – and the highly varied development of individual car markets
represent challenges for the Audi Group. In addition, there is the industry’s transformation
brought on by new drive technologies and mobility concepts, along with a steady increase in the
intensity of competition.
However, the Audi Group believes it is well equipped to handle the challenges of the future and
maintain a course of growth over the next few years.
Anticipated development of deliveries
For 2012 and 2013, the Audi Group expects to be able to increase deliveries of the Audi brand.
The Company intends to increase its market shares in numerous sales markets and thus improve
the strong overall competitive position in the premium segment worldwide. The Audi brand has
set itself the goal of increasing deliveries to 1.5 million vehicles by 2015. Unless the economic
framework deteriorates markedly, it may be possible to achieve that goal sooner.