Progress through technology

Automotive manufacturing in the UK may be undergoing a severe downturn but German car maker Audi has bucked the trend by reporting record profits, revenue and vehicle sales for the 2008 financial year.

Delivery of Audi vehicles was up to 1,003,469, representing a 4.1 per cent growth.

Total revenue for the year climbed by 1.7 per cent to €34,196 (£31,676) and operating profit was up 2.5 per cent to €2,772m.

The number of Audi employees also rose to 57,533 in 2008 with 2,181 apprentices being trained in the same year. Net liquidity was up by 18.2 per cent to €9.3bn and profit before tax increased by nine per cent to €3,177m.

However, while sales in Europe were up, the number of vehicles delivered to customers in the US fell by 6.1 per cent. The company said that it would remain cautious of market conditions and assess all investments and costs that are not product related.