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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:

VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.

The next-gen Bentley Continental GT takes a page from Porsche

The way things look to be shaping up, changes to the Bentley Continental GT's styling are going to be like changes to the Porsche 911: minor modifications to a firmly established formula. It seems Bentley customers like a certain style, and, as shown by the Bentayga SUV, Bentley is willing to twist that design into any shape. German influence from the parent company has apparently taken hold in Crewe. The new model takes a lot of influence from the EXP10 Speed 6 concept that debuted nearly two years ago. The profile looks the same, but the new car appears more muscular than the current model, with sharp lines that carry from the fender through the doors. All of the requisite curves are present, just tightened up a little. Despite the camouflage, we can tell that the Continental GT will retain its four round lights up front, similar to the EXP10 Speed 6. The LED ring can be seen through the covering on the coupe, while the convertible has even less camo. Out back, little has changed. The oval tail lights still match the exhaust tips, and the coupe's fastback roofline still ends at the rear bumper. The trunk lid now sits flush with the rest of the bodywork, but other than that, there will be no mistaking this for anything other than a Bentley Continental GT. Likewise, changes to the Continental GTC convertible have been minor. We don't yet know when the car will debut or what will rest under the hood, but expect turbocharged eight- and twelve-cylinder power once again. Don't rule out some form of electrification, given the new Bentley shares a platform with the Porsche Panamera 4 E-Hybrid. Related Video: Featured Gallery 2018 Bentley Continental GT and GTC spy shots View 27 Photos Image Credit: CarPix Design/Style Spy Photos Bentley Coupe Luxury Performance