Audi Drives Forward Despite Market Headwinds

Audi reported a 14% year-on-year decline in retail sales for the first half of the year, mainly due to economic challenges and market uncertainties. Despite this, Audi remains optimistic about India's luxury car sector, bolstered by customer aspirations, new model releases, and strong pre-owned car sales.

Luxury carmaker Audi announced on Tuesday that its retail sales dipped 14% year-on-year to 2,128 units in the first half of the year.

In the previous year, the company sold 2,477 units in the same period. Audi attributes the decline to reduced demand caused by price hikes linked to a weakening currency and uncertainties in the geopolitical landscape.

Despite these challenges, Audi remains optimistic about the upcoming festive season in India, driven by aspirational consumers and a strengthened business foundation, according to Audi India Head Balbir Singh Dhillon.

(With inputs from agencies.)