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Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

Audi S3 Cabriolet spotted in the world for the first time

Spy photographers have finally managed to lay a lens on the upcoming Audi S3 Cabriolet. The new convertible stepped out into the light of day for a little winter testing, and from the looks of things, the model will borrow plenty of design cues from the larger A5. Not that we're complaining. Word has it the S3 will put around 300 horsepower to the pavement via a quattro all-wheel drive system. We've also heard the machine will boast a dual-clutch transmission once it bows.
We've long been fans of the S3 Sportback, and the S5 holds a special place in our hearts as well. A smaller, lighter version of the big cabriolet with all of the aggressive proportions of its larger brother should prove to be a welcome addition to the Audi stable. Stay tuned for more information as it becomes available, and be sure to check out the full gallery for a closer look.

US-bound Audi A3 Sedan spied testing

As the Audi A3 sedan gets closer to its debut, Audi has camouflaged prototypes to take it on the streets for final testing. Last time we saw the A3, it was testing almost in the buff, but it was on a closed track so our spy shooters were kept at quite a distance.
Now that the newest Audi sedan is testing on public roads, our latest batch of spy shots gives us a more detailed look at the entry-level luxury player despite the swirly camo. Except for the oversized wheels and the fancy exhaust outlets and door mirrors, the production version of the car should look almost identical to the A3 sedan concept we saw in Geneva a couple years ago. Some of the details we can see include a good-sized panoramic roof that stretches almost halfway into the rear passenger space and signature Audi LED-accented headlights and taillights.