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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 CVT suit settlement given green light, 64,000 cars covered

Audi drivers, listen up. If you bought or leased a 2002-06 model-year A4 or A6 with a factory-installed Continuously Variable Transmission (CVT) that failed, you may be entitled to reimbursement under a recently settled class-action lawsuit with corporate parent Volkswagen.
According to Automotive News, the settlement covers about 64,000 vehicles and alleges that "manufacturing and design problems caused the transmissions to fail and left owners stuck with repair costs." While the suit also argues Audi was aware of these issues (going so far as to hide that knowledge from consumers), the settlement stops short of acknowledging any wrongdoing by the German automaker.
Audi drivers are eligible for a cash reimbursement if their CVT repairs occurred within 10 years or 100,000 miles of the date they bought or leased the vehicle before June 19, 2013. To be eligible for compensation, drivers must submit a claim form (found here) with supporting documents by November 18.

Autoblog Podcast #366

Episode #366 of the Autoblog podcast is here, and this week, Dan Roth, Jeff Ross and George Kennedy of Boldride.com talk about the 2015 Lincoln Navigator, Volkswagen's US market woes, and the drama at the Rolex 24 hours of Daytona. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along after the jump with our Q&A. Thanks for listening!
Autoblog Podcast #366:
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