1
Quarterly Update
Audi Group
H1/2022

2
Contents
Highlights 
& milestones
Markets & 
products
Deliveries to customers
Income statement
Cash flow statement
Investments: R&D and capex
Financial highlights and
KPI overview
Selected model 
presentations H1/2022
Corporate highlights 
H1/2022
Production
Balance sheet
Guidance FY2022
Lamborghini
Ducati
Net cash flow bridge
Operating profit bridge
Economic environment
Audi Group
financial KPIs
Premium 
Brand Group
Further
publications
Audi Report 2021
Insight into strategy, sustainability 
topics and financial development in 
FY2021
Audi Fact Pack H1/2022
6M figures
ESG
Environment
Social & workforce
Governance
Facts
Product portfolio
Production sites
Financial calendar
Audi corporate strategy
EU taxonomy
ESG overview
Bentley
Overview

3
of the Audi Group 
rose by 2% to 
Financial 
Highlights 
and KPI
overview1
increased to
2.8%
(2.1%)
decreased to
€2.6bn
(€5.5bn)
amounted to
€4.9bn
(€3.1bn)
ROS
16.5%
(10.7%)
€29.9bn
(€29.2bn)
(numbers in brackets represent 
prior-year figures Jan-Jun)
Before special items, operating profit
amounted
to
€5.0bn
(€3.1bn),
ROS at 16.6% (10.7%)
H1/22
January - June
↑first-time consolidation of Bentley
↑strong pricing
↑positive effects of €0.4bn from raw
material hedges in H1/22
↑good residual values
↑strong contribution of brands
↓increasing working capital
↓transfer of national sales companies
within the Volkswagen Group
increased to
7.0%
(6.7%)
Quarterly Update H1/2022 Audi Group
R E V E N U E
O P E R A T I N G  P R O F I T / R O S
N E T  C A S H  F L O W
C A P E X  R A T I O
R & D  R A T I O
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts
Ducati deliveries 
fell by 4% and 
reached 
Lamborghini 
deliveries – an 
increase of 5%.
797,587
(986,567)
of cars of the Premium Brand Group 
amounted to
cars, a –20% year-on-year decrease due
to supply shortages and lockdowns in
China despite high market demand.
BEVs increased
by 53% to
50,033
(32,775)
5,090
(4,852)
33,265
(34,515)
D E L I V E R I E S  T O
C U S T O M E R S
Bentley deliveries 
amounted to  
7,398
785,099
(981,681)
The Audi brand delivered
1 Bentley was consolidated as of January 1, 2022. Therefore, all Audi Group figures for H1/2021 do not include Bentley, with the exception of 34 units sold by an Audi Group sales company.
(34)1
↑investment in new factory by Audi
FAW NEV Company in China
↑higher investment in future products

4
of the Audi Group 
rose by 3% to 
Financial 
Highlights 
and KPI
overview1
increased to
3.6%
(2.2%)
decreased to
€1.0bn
(€2.4bn)
amounted to
€1.5bn
(€1.7bn)
ROS
9.4%
(11.3%)
€15.6bn
(€15.1bn)
(numbers in brackets represent 
prior-year figures Apr-Jun)
Before special items, operating profit
amounted
to
€1.4bn
(€1.7bn),
ROS at 9.2% (11.3%)
Q2/22
April - June
↑first-time consolidation of Bentley
↑strong pricing
↓negative effects of –€0.9bn from raw
material hedges in Q2/22
↑good residual values
↓increasing working capital
↓higher capex spending
increased to
6.9%
(6.2%)
Quarterly Update H1/2022 Audi Group
R E V E N U E
O P E R A T I N G  P R O F I T / R O S
N E T  C A S H  F L O W
C A P E X  R A T I O
R & D  R A T I O
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts
Ducati deliveries 
fell by 9% and 
reached 
Lamborghini 
deliveries – an 
increase of 5%.
406,761
(521,302)
of cars of the Premium Brand Group 
amounted to
cars, a –23% year-on-year decrease due
to supply shortages and lockdowns in
China despite high market demand.
25,797
(18,192)
2,551
(2,430)
19,798
(21,716)
D E L I V E R I E S  T O
C U S T O M E R S
Bentley deliveries 
amounted to  
4,195
400,015
(518,853)
The Audi brand delivered
1 Bentley was consolidated as of January 1, 2022. Therefore, all Audi Group figures for Q2/2021 do not include Bentley, with the exception of 19 units sold by an Audi Group sales company.
(19)1
↑investment in new factory by Audi
FAW NEV Company in China
↑higher investment in future products
BEVs increased
by 42% to

5
Quarterly Update H1/2022 Audi Group
1 Lamborghini Countach
LPI 800-4: 
Fuel consumption and 
emission values of 
Countach LPI 800-4; 
Combined fuel 
consumption: 
19,5 l/100km (WLTP); 
combined CO2-
emissions: 440 g/km 
(WLTP). For the vehicle, 
only consumption and 
emission values 
according to WLTP and 
not according to NEDC 
are available.
2 Audi A1 allstreet: 
Fuel consumption and 
emission values of Audi 
A1 allstreet; 
Combined fuel 
consumption: 
5,2-4,9 l/100km 
(WLTP); combined CO2-
emissions: 
119-112 g/km (WLTP)
The Countach LPI 800-4 is the commemorative
version celebrating the 50th anniversary of the
iconic model. An even more visionary and
futuristic design characterizes this new totally
reinvented version produced in a limited series
of just 112 units, delivery of which started in
April 2022.
The 6.5-liter, 780 hp V12 engine of the new
Countach is paired with a 48V electric motor
mounted directly on the gearbox to supply
another 34 hp. The combined horsepower of
814
makes
it
possible
to
reach
the
extraordinary top speed of 355 km/h while
also only having a dry weight of 1,595 kg.
New Countach LPI 800-4
The Ducati Panigale V4 continues its evolution
for the 2023 model year with the introduction
of a series of electronic improvements.
The new Engine Brake Control EVO 2 software,
a brand-new strategy for Ducati Quick Shift
and refinements for Ducati Traction Control
and Ride by Wire make the Panigale V4 even
easier and more intuitive for riders of all
levels. A new cooling fan control strategy
offers
improved
operating
temperature
management and better thermal comfort.
Ducati Panigale V4 2023: electronic 
updates improve performance and 
comfort
The
most
individual
model
of
the
Audi
compact series is being renamed. The Audi A1
citycarver is now called the Audi A1 allstreet2.
With its sporty, streamlined lines based on the
Audi A1 Sportback, the compact car will stay
true to its popular, robust off-road look. All
equipment
and
customization
options
previously on offer as well as the previously
available
engine/transmission
combinations
will also remain.
Update for Audi A1 model series
Lamborghini delivers first new Countach, Ducati & Audi present model updates
Selected model presentations H1/2022
Lamborghini Countach LPI 800-41
Audi A1 allstreet2
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts
Ducati Panigale V4 2023

6
Quarterly Update H1/2022 Audi Group
As
of
May
2022,
Xavier
Ros
has
succeeded Sabine Maassen as Board
Member
for
Human
Resources
and
Organization
at
AUDI
AG.
Having
attained
a
degree
in
mechanical
engineering,
Ros
started
his
professional career at Audi in 1994
before switching to SEAT in 1999 and
later to Volkswagen. Since September
2015, he has overseen SEAT’s Human
Resources division in Martorell. With
this transfer to the Audi Board of
Management, the company’s executive
level is becoming more international
by bringing a Spanish native on board.
read more
Audi Board of Management 
change
Audi sets cornerstone for new NEV company in China, further roll out of charging hub
Corporate highlights H1/2022 
With the foundation of the Audi FAW
NEV Company, Audi has set the course
for local production of models based
on
the
PPE
(Premium
Platform
Electric) technology platform for the
Chinese market. Work began on the
new production site in the northern
Chinese metropolis of Changchun at
the end of June. With construction set
to finish by the end of 2024, this will
be the first automotive plant in China
where only all-electric Audi models roll
off the line. The factory is designed to
produce more than 150,000 vehicles a
year. read more
Audi FAW NEV Company 
builds smart factory for 
e-models in Changchun
The Audi 80 is both a pioneer of
innovative
technology
and
a
trendsetter,
and
became
the
first
million-seller for the brand with the
Four Rings. The significance of the
compact
sedan
for
Audi
and
the
Volkswagen Group is indisputable – not
least because the Audi 80 pioneered
modular design. In an impressive way,
the
Audi
80
demonstrated
that
“Vorsprung
durch
Technik”
is
a
tradition at Audi.
The Audi 80 established the B series.
More than 12.5 million B1 to B9 cars
(Audi 80 and Audi A4 models) have
been produced up to the present day.
read more
Feedback following the pilot phase of
the Audi charging hub in Nuremberg
turned
out
to
be
overwhelmingly
positive.
The
fact
that
repeat
customers
accounted
for
some
60
percent of charging sessions confirms
the Four Rings’ globally unique, urban
charging concept. The Audi charging
hub mostly serves urban drivers who
cannot charge at home. Starting in the
second half of the year, a second
compact Audi charging hub pilot site
will
open
in
downtown
Zurich.
Additional sites are slated to open in
attractive locations in the following
years. read more
Audi continues to roll out 
charging hub
Audi 80, “B1”
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts
Audi captures the zeitgeist
with this car: first Audi 80 
unveiled 50 years ago

7
2
4
0
6
14
16
18
20
22
Q2/2020
Q2/2021
Q2/2022
-15
-10
-5
0
5
10
15
20
Q2/2020
Q2/2021
Q2/2022
Quarterly Update H1/2022 Audi Group
After the slump in global economic output in 2020
and the onset of recovery due to base and catch-up
effects in 2021, economic growth in both advanced
economies
and
emerging
markets
continued
to
recover on average, albeit with declining momentum.
At a national level, developments during the reporting
period depended on the extent to which the COVID-19
pandemic
unfolded
its
negative
effects
and
the
intensity with which measures were taken to contain
the spread, and on the other hand how severely the
national
economies
were
affected
by
the
consequences of the Russia-Ukraine conflict.
Real GDP growth, quarterly 
in % change from a year earlier (Data: IHS Markit)
GDP and vehicle markets still affected by COVID-19 and supply-chain issues
Economic environment
Automotive markets
by region in million units
From January to June 2022, the global passenger car
market
volume
decreased
significantly
overall
compared with the same quarter of the previous year.
In particular, bottlenecks and disruptions in global
supply chains as a result of the COVID-19 pandemic
and the effects of the Russia-Ukraine conflict had a
negative impact.
In addition, the continued significant restrictions on
the supply situation for semiconductors weighed on all
major individual markets.
Similar effects also impacted the motorcycle market,
although the decrease was less intense compared with
the automotive market.
USA
Europe
China
World
Germany
USA
Europe
China
World
Germany
Real GDP growth
in % change from a year earlier
Automotive markets
in units
Q2/2022
Q2/2021
1-6/2022
1-6/2021
Δ %
Europe
3.2
15.6
6,023,230
7,451,897
–19.2
of which Germany
2.1
10.4
1,238,174
1,390,889
–11.0
USA
1.4
12.2
6,845,729
8,355,351
–18.1
China
0.4
7.9
9,506,117
10,241,068
–7.2
Worldwide
2.7
11.7
33,504,637
37,274,427
–10.1
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Highlights & 
Milestones
Overview
Facts

8
Quarterly Update H1/2022 Audi Group
1 Bentley production in 
1-6/2021: 7,157 units; 
figure not included in 
2021 Premium Brand 
Group numbers.
From
January
to
June
2022,
829,809
(913,359) automobiles of the Premium Brand
Group were produced in total, a decrease of
–9.1% compared with the prior-year period.
The Audi brand recorded a production of
815,975 (909,073) cars, which was a decline
by –10.2%.
The production volume in the reporting period
was
heavily
impacted
by
ongoing
semiconductor shortages and by the COVID-19
lockdowns in China.
The local production of Audi cars by associated
companies in China amounted to 285,039
(334,029) units, a decline of –14.7%.
Lamborghini
manufactured
5,254
(4,286)
vehicles in the first half year of 2022, a year-
on-year increase of 22.6%.
The
production
volume
of
Bentley
–
consolidated since January 2022 as a new
member of the Premium Brand Group – was
8,5801 in the first two quarters of 2022.
Despite the challenging supply situation, Audi
was able to increase the production of fully
electric vehicles substantially in order to meet
the ongoing strong demand. The New Energy
Vehicle (NEV) share – fully electric and plug-in
hybrid vehicles as a proportion of total car
production – increased to 10.3% (9.3%) within
the Premium Brand Group.
In
the
first
six
months
of
2022,
Ducati
produced 35,835 (36,984) motorcycles – a
decrease of –3.1% compared with the previous
year,
also
affected
by
semiconductor
shortages.
Ongoing supply shortages and COVID-19 lockdowns in China affected production 
Production
Production Premium Brand Group
in units
1-6/2022
1-6/2021
Δ in %
Ingolstadt (GER)
163,784
180,329
–9.2
Neckarsulm (GER)
73,102
92,043
–20.6
Zwickau (GER)
19,884
4,888
X
Győr (HUN)
87,687
95,794
–8.5
Brussels (BEL)
25,416
21,445
18.5
San José Chiapa (MEX)
86,891
76,964
12.9
China (all sites)
285,039
334,029
–14.7
Other sites
74,172
103,581
–28.4
Audi brand
815,975
909,073
–10,2
Sant’Agata Bolognese (ITA)
5,254
4,286
22.6
Lamborghini brand
5,254
4,286
22.6
Crewe (UK)
8,580
–
X
Bentley brand1
8,580
–
X
Total automobiles
829,809
913,359
–9.1
Motorcycles
Ducati brand
35,835
36,984
–3.1
422
398
533
456
270
Q4
Q3
451
Q1
462
407
Q2
in units
1-6/2022
1-6/2021
Δ in %
BEV production
53,600
32,404
65.4
PHEV production
31,979
52,426
–39.0
NEV total
85,579
84,830
0.9
Quarterly production1
in k units
Production by segment1
1-6/2022 (1-6/2021), in % of automobile production
A0/A segment 38% (38%)
B segment 36% (34%)
C segment  23% (27%)
D/E segment  3% (2%)
Q3/2021 – Q2/2022
Q3/2020 – Q2/2021
10.3
9.3
1-6/2021
1-6/2022
+1.0ppt.
Premium Brand Group automobiles1
NEV production
in % of automobile production
NEV share
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Highlights & 
Milestones
Overview
Facts

9
Quarterly Update H1/2022 Audi Group
1 Bentley was 
consolidated as of 
January 1, 2022. 
Therefore, the 
H1/2021 figure only 
includes deliveries to 
customers of 34 units, 
sold by an Audi Group 
sales company. For 
information: Bentley 
deliveries in H1/2021: 
7,199 units.
Deliveries to customers 
Premium Brand Group
Strong demand only partly satisfied due to supply shortages
Deliveries to customers
in units
1-6/2022
1-6/2021
Δ in %
Automobiles
Audi brand
785,099
981,681
–20.0
Lamborghini brand
5,090
4,852
4.9
Bentley brand
7,398
341
X
Total automobiles 
797,587
986,567
–19.2
Motorcycles
Ducati brand
33,265
34,515
–3.6
A0/A segment 39% (37%)
B segment 37% (35%) 
C segment  22% (27%)
D/E segment 2% (2%)
Deliveries of Premium Brand Group 
automobiles1
in units
1-6/2022
1-6/2021
Δ in %
Europe
310,701
353,128
–12.0
Germany
106,058
104,422
1.6
China 
incl. Hong Kong
321,755
419,351
–23.3
USA
87,033
123,337
–29.4
Other markets
78,098
90,751
–13.9
Total
797,587
986,567
–19.2
in units/in % of automobile deliveries
BEV
50,033
32,775
52.7
BEV share
6.3%
3.3%
3.0 ppt.
SUV
398,972
466,381
–14.5
SUV share
50.0%
47.3%
2.7 ppt.
China locally prod.
296,223
373,388
–20.7
locally produced 
in China share
37.1%
37.8%
–0.7 ppt.
By segment
1-6/2022 (1-6/2021), in % of automobile deliveries
In the first six months of 2022, the Premium
Brand Group delivered 797,587 (986,567)
automobiles
to
customers,
a
decrease
of
–19.2% compared with the record H1/2021.
The decline is driven by the Audi brand with a
year-on-year
change
of
–20.0%,
whereas
Lamborghini recorded an increase of 4.9%.
The British brand Bentley started the first half-
year with 7,398 deliveries.
The Ducati brand delivered 33,265 (34,515)
motorcycles to customers, a decline of –3.6%
compared with the strong prior-year, also
affected by semiconductor shortages.
The ongoing bottlenecks in semiconductor
supply, COVID-19 lockdowns in China and
logistic
challenges
likewise
affected
the
availability of Audi cars in H1/2022.
482
334
368
Q3
507
465
Q4
391
Q1
521
407
Q2
Quarterly deliveries
in k units
Q3/2021 – Q2/2022
Q3/2020 – Q2/2021
Therefore, it was not possible to fully serve
the
persistently
high
customer
demand,
resulting in a decrease of deliveries in all
major regions in the first half-year.
On the Chinese market, the drop of –23.3%
for the Premium Brand Group compared with
the very strong previous year was mostly
driven by COVID-19 lockdowns. Those affected
the local sales situation especially at the
beginning of the second quarter.
In addition to the semiconductor shortages,
deliveries on the US market were impacted by
logistic issues. This led to a decrease of
–29.4% compared with the strong H1/2021.
Despite the challenging supply situation, the
Audi brand increased the number of fully
electric vehicles (BEV) by 52.7% year-on-year.
In total 50,033 (32,775) BEVs were delivered.
The Audi Q4 e-tron models recorded the
highest growth. As a result, the BEV share of
the Premium Brand Group rose to 6.3%.
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Highlights & 
Milestones
Overview
Facts

10
Quarterly Update H1/2022 Audi Group
1 Includes the result from 
investments accounted 
for using the equity 
method: FAW-
Volkswagen 
Automotive Co., Ltd., 
Volkswagen Automatic 
Transmission (Tianjin) 
Co., Ltd., SAIC 
Volkswagen 
Automotive Co., Ltd. 
and brand settlement/ 
performance-related 
income for China 
business.
2 The vehicle shown here 
is a concept vehicle that 
is not available as a 
series production 
vehicle.
In the first six months of 2022, the
Audi
Group
generated
revenue
of
€29,869m (€29,212m). The year-on-
year
increase
of
2%
despite
a
decrease
in
deliveries
was
mainly
attributable
to
the
first-time
consolidation of Bentley in 2022. In
addition, it was possible to further
improve the strong price position.
Cost of goods sold decreased mainly
due to the lower sales volume as a
consequence of supply shortages.
Distribution
expenses
decreased
compared with the prior year period
due
to
lower
advertising
costs,
among other things.
The
increase
in
administrative
expenses
is
driven
by
the
consolidation of Bentley.
Market performance and strong brands lead to record profit
Income statement
The other operating result included
positive effects from raw material
hedges of €0.4bn in H1/22 (positive
effect
in
Q1/22:
€1.2bn)
and
significantly
increased
residual
values.
The operating profit before special
items
amounted
to
€4,965m
(€3,113m).
The
operating
margin
was 16.6% (10.7%). Special items of
–€32m (–) were in connection with
the diesel issue.
The financial result of the Audi Group
was
almost
stable
at
€754m
(€762m)
including
a
lower
profit
from the China business of €431m
(€565m) mainly as a result of the
COVID-19 lockdowns in the second
quarter. In contrast, higher interest
rates for discounting of provisions
had a positive effect.
Income statement
Audi Group, in €m / in % of revenue
in €m
1–6/2022
1–6/2021
in %
Revenue
29,869
29,212
2.2
Costs of goods sold
–24,253
–25,068
–3.3
Gross profit
5,616
4,144
35.5
Distribution expenses
–1,429
–1,454
–1.7
Administrative expenses
–376
–317
18.6
Other operating result
1,121
739
51.7
Operating profit
4,933
3,113
58.5
Return on sales (ROS)
16.5%
10.7%
5.8 ppt.
Financial result
754
762
–1.0
of which China business1
431
565
–23.7
Profit before tax
5,687
3,875
46.8
Income tax expense
–1,297
–488
X
Profit after tax
4,390
3,386
29.6
Operating profit before special 
items
4,965
3,113
59.5
ROS before special items
16.6%
10.7%
5.9 ppt.
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
1,652
(13.0%)
1,709
(11.3%)
3,535
(24.8%)
Q1
Q2
Q3
Q4
1,404
(10.0%)
H1
1,430
(9.2%)
781
(7.0%)
3,113
(10.7%)
4,965
(16.6%)
Operating profit before special items
in €m/ in % of revenue
Facts
2022
2021
Audi  grandsphere concept2

11
Quarterly Update H1/2022 Audi Group
Volume/market: While lower volumes due to supply
shortages
had
a
disadvantageous
impact
on
the
operating profit, the positive effects of the previous
periods could be sustained: a substantially better
pricing as well as reduced incentives, higher residual
values and a higher contribution from genuine parts
business led to strong growth in the first six months
of
2022.
This
was
supplemented
by
a
strong
performance by Lamborghini and Ducati as well as the
first-time consolidation of Bentley.
Operating profit bridge
in €m, in % of revenue
Strong market performance despite supply challenges, but headwind from raw materials
Operating profit bridge
FX/raw materials: Effects from raw material hedges
(mostly aluminum & copper) impacted the operating
profit negatively on a year-on-year comparison. The
positive
valuation
effects
of
the
first
quarter
dramatically reversed in Q2/22. Currency effects were
positive compared with the prior year.
Product costs developed negatively compared with the
prior year, mainly as a result of increased raw material
prices and supply chain risks.
Fixed costs/other had a positive effect in a year-on-
year
comparison.
Adjusted
for
the
Bentley
consolidation fixed costs without R&D were positive.
R&D costs increased mainly due to the consolidation
of Bentley, whereas capitalized development costs
were higher.
Special items related to diesel had a negative impact
of –€32m (–) on operating profit.
188
Special items
1–6/2022
1–6/2021
Volume/
market
-32
FX/raw materials
hedges
1–6/2022 
before special items
Product costs
Fixed costs/other
4,933
(16.5%)
3,113
(10.7%)
-139
-313
4,965
(16.6%)
2,116
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
Facts

12
Quarterly Update H1/2022 Audi Group
1 Audi RS e-tron GT: 
combined electric 
power consumption in 
kWh/100 km: 20.2–
19.3 (NEDC), 22.6–
20.6 (WLTP); combined 
CO₂ emissions in g/km: 
0. Information on 
electric power 
consumption and CO₂ 
emissions in ranges 
depends on the 
vehicle’s selected 
equipment.
As of June 30, 2022, total assets
increased to €67,822m (€66,124m),
mainly impacted by the first-time
consolidation of Bentley.
Non-current
assets
were
up
compared with December 31, 2021,
mostly as a result of higher intangible
assets, higher property, plant and
equipment
and
increased
other
financial assets.
Current assets increased moderately.
Inventories
and
trade
receivables
were higher, whereas cash and cash
equivalents decreased as a conse-
quence of the 2021 profit transfer to
Volkswagen AG.
Assets
classified
as
held
for
distribution to owners are mainly in
connection with the agreed transfer
of a company within the Volkswagen
Group.
Bentley consolidation, higher profit & working capital affect balance sheet
Balance sheet
The transfer of several national sales
companies
(NSCs)
stated
in
the
previous year is concluded.
Equity of the Audi Group increased
significantly,
affected
by
higher
retained earnings and lower actuarial
losses for pensions as a result of
increased interest rates; the equity
ratio amounted to 44.3% (39.3%).
Non-current liabilities fell mainly due
to lower provisions for pensions.
The increase of current liabilities was
primarily
caused
by
higher
trade
payables. The payment of the profit
transfer
from
2021
to
Volks-
wagen AG had contrary effects.
Balance sheet
Audi Group, in €m
Jun 30, 2022
Dec 31, 2021
in %
Non-current assets
32,803
31,754
3.3
Current assets
34,930
33,445
4.4
of which inventories
8,321
7,090
17.4
of which trade receivables
6,043
4,416
36.8
Assets held for distribution to 
owners
88
926
–90.4
Total assets
67,822
66,124
2.6
Equity
30,019
26,012
15.4
Non-current liabilities
14,915
17,149
–13.0
Current liabilities
22,888
22,399
2.2
of which trade payables
7,445
6,667
11.7
Liabilities held for distribution 
to owners
0
564
–99.9
Total liabilities and equity
67,822
66,124
2.6
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
Facts
Audi RS e-tron GT1

13
Quarterly Update H1/2022 Audi Group
1 Including €213m from 
the first-time 
consolidation of 
Bentley
The Audi Group generated a cash flow from operating activities
of €4,858m (€7,039m) in the first half of 2022.
The significant decrease compared with the extraordinary strong
previous year was mainly attributable to negative working
capital effects despite a higher gross cash flow as a result of the
improved profit.
Inventories increased due to logistic challenges and supply
shortages compared with the extraordinary low level in the
previous year. Trade receivables recorded a growth. Trade
payables increased mainly due to higher production at the end of
the quarter. Provisions decreased driven by higher interest rates
for discounting.
The Audi Group generated a cash flow
from operating activities of €4,858m
(€7,039m) in the first half of 2022.
The significant decrease compared
with
the
extraordinary
strong
previous year was mainly attributable
to negative working capital effects
despite a higher gross cash flow as a
result of the improved profit.
Inventories increased due to logistic
challenges
and
supply
shortages
compared with the extraordinary low
level
in
the
previous
year.
Trade
receivables recorded growth. Trade
payables
increased
mainly
due
to
higher production at the end of the
quarter. Provisions decreased driven
by
higher
interest
rates
for
discounting.
NCF affected by negative working capital effects & higher investments despite strong profit
Cash flow statement
The
cash
flow
from
investing
activities was –€3,691m (–€1,637m).
While capital expenditures increased
mainly due to investments by the new
AUDI FAW NEV company, capitalized
development costs rose as a result of
the current product development life
cycle of the product portfolio.
Changes in participations reflect a
cash outflow in connection with the
transfer of national sales companies
within the Volkswagen Group.
The net cash flow of the Audi Group
reached €2,593m (€5,512m).
The
cash
flow
from
financing
activities
came
in
at
–€4,117m
(–€7,713m) and mainly includes the
profit transfer to Volkswagen AG for
2021.
Cash flow statement
Audi Group, in €m 
1–6/2022
1–6/2021
in %
Cash and cash equivalents at the 
beginning of period
12,2351
11,152
9.7
Gross cash flow
6,148
4,895
25.6
Working capital
–1,290
2,144
X
Cash flow from operating activities
4,858
7,039
–31.0
Investing activities attributable
to operating activities
–2,265
–1,527
48.3
of which capital expenditures
–847
–608
39.4
of which capitalized development
costs
–1,031
–920
12.1
of which changes in participations
–494
–10
X
Net cash flow
2,593
5,512
–53.0
Change in deposits and loans extended
–1,427
–110
X
Capital contribution
143
191
–25.2
Profit transfer / dividend payment
–4,025
–7,830
–48.6
Lease payments, change in other 
financial liabilities
–235
–74
X
Change in cash & cash equivalents due 
to changes in
exchange rates
263
114
X
Changes in cash and cash equivalents
–2,688
–2,197
22.3
Cash and cash equivalents 
(June 30, 2022, compared with Dec 31, 
2021)
9,547
12,022
–20.6
Net liquidity 
(June 30, 2022, compared with Dec 31, 
2021)
20,702
22,674
–8.7
Cash flow from investing activities
–3,691
–1,637
X
Cash flow from financing activities
–4,117
–7,713
–46.6
Net cash flow
Audi Group, in €m
-160
955
Q3
H1
Q1
Q4
Q2
2,427
3,085
1,638
2,405
5,512
2,593
2022
2021
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
Facts

14
Quarterly Update H1/2022 Audi Group
High gross cash flow due to the strong operating
performance and the inclusion of Bentley. Non-cash
effects
in
connection
with
raw
material
hedging
valuation had a negative impact.
The change in working capital reflects the increase in
finished, unfinished goods as well as raw materials
and
supplies.
The
main
reasons
were
logistic
challenges and supply shortages. Moreover, trade
receivables and provisions had a negative effect, while
trade payables had a positive impact.
Net cash flow bridge
in €m, 1-6/2022
Net cash flow affected by negative working capital effects
Net cash flow bridge
Capital expenditure of the Audi Group went up mainly
due to the consolidation of Bentley and investments
by the AUDI FAW NEV company in China for the new
factory.
Capitalized development costs had a higher impact in
the
reporting
period,
reflecting
the
increased
capitalization ratio as an outcome of the current
product development life cycle.
Disinvestments in participations include mainly the
cash outflow in
connection
with
the transfer
of
national
sales
companies
within
the
Volkswagen
Group.
107
6,148
Capitalized 
development costs
Gross cash flow
Change in 
working capital
(Dis-) Investments 
in participations
Operating 
net cash flow
Capital expenditure
Other
Net cash flow
-1,290
-847
-1,031
2,593
-494
3,087
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
Facts

15
Quarterly Update H1/2022 Audi Group
1 Sum of capital 
expenditure and R&D 
activities according to 
Planning Round 70, for 
the periods 2022-
2026. 
2 Including other future 
topics, not including 
CARIAD budget.
3 Capex includes 
investments in 
property, plant and 
equipment, investment 
property and other 
intangible assets 
according to the cash 
flow statement.
Audi Group, 2022-2026
In the first half-year of 2022, R&D activities
went up to €2,103m (€1,945m). The increase
is mainly based on the first-time consolidation
of Bentley.
The R&D ratio remained almost stable at 7.0%
(6.7%), which is within the strategic target
corridor of 6 to 7%.
The capitalization ratio increased to 49.0%
(47.3%), reflecting the current stage of the
product development life cycle of the Audi
Group product portfolio.
As
a
result,
R&D
expenses
amounted
to
€1,878m (€1,705m).
Capex went up to €847m (€608m), mainly
because of investments by the new AUDI FAW
NEV company in China for the new factory. The
capex
ratio
therefore
increased
to
2.8%
(2.1%).
Research and development
Audi Group, in €m / in %
R&D activities reflect product life cycle, capex discipline remains strong
Investments: R&D and capex
Total
investments
€40bn
€22bn
future
topics
of which
€14bn
Electrification
€5bn
Hybridization
€3bn
Digitalization2
1–6/2022
1–6/2021
in %
R&D activities
2,103
1,945
8.2
R&D ratio
7.0%
6.7%
0.3 ppt.
Capitalized R&D
1,031
920
12.1
Capitalization ratio
49.0%
47.3%
1.7 ppt.
Amortization of 
capitalized R&D 
806
680
18.5
R&D expenses
1,878
1,705
10.2
1–6/2021
1–6/2022
608
(2.1%)
847
(2.8%)
+39.4%
Capital expenditure3
Audi Group, in €m, in % of revenue
Future investments1
Future investments
For the years 2022 through 2026, the Audi
Group (including Bentley) will invest €40bn.
€19bn will be invested in the electrification
roadmap: €14bn will go towards fully electric
cars, a further €5bn towards plug-in hybrids.
The five-year digitalization budget amounts to
€3bn, and mostly includes the Audi-specific
adaption of CARIAD solutions.
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
Facts

16
Quarterly Update H1/2022 Audi Group
1 The consolidation of 
the new brand Bentley 
from January 1, 2022, 
is considered within the 
guidance.
2 Audi Q4 50 e-tron
quattro: combined 
electric power 
consumption in 
kWh/100 km: 17.8–
16.5 (NEDC); 20.0–7.9 
(WLTP); combined CO2
emissions in g/km: 0. 
Information on power 
consumption and CO2
emissions in ranges 
depends on the 
vehicle’s selected 
equipment.
The current guidance of the Premium Brand
Group
is
mostly
unchanged
and
already
includes
the
foreseeable
near-term
consequences of the semiconductor supply
shortages, the Russia-Ukraine conflict and of
the COVID-19 lockdowns in China in H1/2022.
The effects of the further course of the Russia-
Ukraine conflict including the unclear gas
situation in Europe and the potential impacts
on
the
global
economy
still
cannot
be
predicted with sufficient certainty. Further
risks could result from bottlenecks in the
supply
chain.
The
development
of
the
commodity
markets
also
remains
unpredictable,
which
in
turn
may
have
significant effects on the valuation of raw
material hedges. In addition, negative effects
may continue to result from a worsening
COVID-19
pandemic
and
from
the
supply
situation – especially for semiconductors.
The guidance for the R&D ratio was adjusted
due
to
higher
investments
in
future
technologies. The R&D ratio is now planned to
be slightly above the strategic target corridor
of 6 to 7%.
Guidance FY2022 Audi Group
Guidance mostly unchanged despite ongoing uncertainties 
Guidance FY2022
2021
2022 guidance1
strategic target
Deliveries to customers
Audi Group, in automobiles
1,688,978
between 1.8m and 1.9m
–
Revenue
in €m
53,068
between €62bn and €65bn
–
Operating return on sales
in %
10.4%
between 9 and 11%
2030: >11% 
until then: between 9 and 11%
Capex ratio
in %
3.8%
within the strategic 
target corridor
between 4 and 5%
R&D ratio
in %
7.4%
Update: slightly above the 
strategic target corridor
between 6 and 7%
Net cash flow
in €m
7,757
between €4.5bn and €5.5bn
–
Return on investment
in %
16.7%
between 17 and 20%
above 21%
Audi Q4 50 e-tron quattro2
Audi Group 
Financial KPIs
Premium 
Brand Group
Highlights & 
Milestones
Overview
Markets &  
Products
ESG
Facts

17
Quarterly Update H1/2022 Audi Group
Transparency, clear commitments & ambitious strategic targets defined for each brand
Overview
PREMIUM 
BRAND GROUP
9–11%
22–25%
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
8–10%
>11%
>25%
>20%
>11%
>10%
Premium 
Brand Group
ESG
R O S  H 1 / 2 2
R O S  T A R G E T  
2 0 2 2 – 2 0 3 0
R O S  T A R G E T  
f r o m  2 0 3 0
I N V E S T M E N T
2 0 2 2 – 2 0 2 6
12–16%
(2022-2026)
€35bn
15.5%
9–11%
€1.8bn
€2.6bn
€0.6bn
€40bn
31.9%
23.3%
12.6%
16.5%
R E V E N U E  H 1 / 2 2 2
€26.4bn
€1.3bn
€1.7bn
€0.5bn
€29.9bn
D E L I V E R I E S  T O
C U S T O M E R S  H 1 / 2 2
785,099
5,090
7,398
33,265
797,5871
1 Automobiles 
2 The sum of the 
individual brands does 
not equal the figure of 
the Premium Brand 
Group due to 
consolidation effects.
Facts
16–20%
(2027-2030)

18
1–6/2022
1–6/2021
in %
Revenue
1,332
1,020
30.6
Operating profit
425
251
69.6
ROS
31.9%
24.6%
7.3 ppt.
Quarterly Update H1/2022 Audi Group
1 Lamborghini Urus: 
combined fuel 
consumption in 
l/100 km: 12.6 (NEDC); 
combined CO2
emissions in g/km: 292
Lamborghini
continued
the
strong
performance of the first three months of
2022: deliveries to customers came in at a new
record level of 5,090 units after six months, an
increase of 4.9% compared with 2021.
Lamborghini achieved a revenue of €1,332m
in H1/2022. This represents an increase of
30.6% compared with the prior year period.
The operating profit increased by 69.6% to
€425m. The corresponding return on sales
(ROS) reached 31.9%. Main drivers for the
increase were a growth in volume, favorable
mix, personalization and positive exchange
rate effects.
Lamborghini delivers strong numbers in H1/2022
Lamborghini
Direzione Cor Tauri Strategy
2024
second half
of the decade
2024
2024
2024
2024
2024
2023
2022
2021
Celebrating 
the combustion engine
1
two new cars in 
the V12 model 
line-up announced 
in 2021
launch of the 
first hybrid 
series-production 
car
Hybrid transition
2
entire range
electrified
First fully 
electric 
Lamborghini
3
Financial highlights
Lamborghini Group, in €m / in % of revenue
ROS target
2022-2030 22-25%
>25% from 2030
€1.8bn
Investment
amount
2022-2026
1-6/2022
1–6/2021
in %
Aventador
509
362
40.6
Huracán
1,689
1,220
38.4
Urus1
3,056
2,704
13.0
Total
5,254
4,286
22.6
Production
Lamborghini Group, in units
China: 11% (12%)
Europe 35% (32%)
USA 30% (31%)
Other markets: 24% (25%)
1–6/2022
1–6/2021
in %
Aventador
391
524
-25.4
Huracán
1,588
1,532
3.7
Urus1
3,111
2,796
11.3
Total
5,090
4,852
4.9
Deliveries to customers
Lamborghini Group, in units
Deliveries to customers by region
Lamborghini Group
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts

19
1–6/2022
1–6/2021
in %
Revenue
1,707
1,324
29.0
Operating profit
398
178
123.8
ROS
23.3%
13.4%
9.9 ppt.
1–6/2022
1–6/2021
in %
Bentayga
3,851
2,730
41.1
Continental
2,380
2,349
1.3
Flying Spur
2,349
2,078
13.0
Total
8,580
7,157
19.9
Quarterly Update H1/2022 Audi Group
1 Bentley was 
consolidated as of 
January 1, 2022. 
Therefore, all Audi 
Group figures for 
H1/2021 do not 
include Bentley. For the 
purpose of comparison, 
the prior-year figures 
are stated on this page.
2 Bentley Bentayga
Hybrid: combined 
fuel/electric power 
consumption in 
l/100km / kWh/100 
km: 3.4/21.0 (NEDC),  
3.4/25.8 (WLTP); 
combined CO2
emissions in g/km: 77 
(NEDC), 82 (WLTP)
Production1
Bentley Group, in units
In the first six months of 2022, Bentley
delivered 7,398 (7,199)1 cars to customers
worldwide, an increase of 2.8%.
Bentley achieved a revenue of €1,707m in
H1/2022.
The
operating
profit
reached
a
record of €398m mainly driven by strong
wholesales, better pricing, personalization and
FX effects.
The return on sales (ROS) came in at 23.3%.
Bentley also set itself ambitious ROS targets:
The company aims to achieve an ROS of over
20% from 2030 on. Until 2026, ROS is life
cycle-driven and targeted between 12 and
16%, from 2027 to 2030 an ROS between 16
and 20%.
Bentley with a strong development in the first six months
Bentley
Financial highlights1
Bentley Group, in €m / in % of revenue
1–6/2022
1–6/2021
in %
Bentayga
2,903
2,767
4.9
Continental
2,460
2,318
6.1
Flying Spur
2,030
2,063
–1.6
Mulsanne
5
51
–90.2
Total
7,398
7,199
2.8
Deliveries to customers1
Bentley Group, in units
ROS target
2022-2026
12–16%
>20%
from 2030
2027-2030
16–20%
China: 22% (30%)
Europe 31% (24%)
USA 27% (27%)
Other markets: 21% (20%)
Deliveries to customers by region1
Bentley Group
€2.6bn
Investment
amount
2022-2026
Bentley Bentayga Hybrid2
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts

20
Quarterly Update H1/2022 Audi Group
Ducati achieves strong financial numbers, despite volume decrease in H1/22
Ducati
The Ducati brand delivered a total of 33,265 (34,515)
motorcycles worldwide in the first half-year of 2022.
This decrease of –3.6% compared with the prior-year
period
is
mainly
based
on
the
challenging
environment, for example with discontinuity in supply
especially for semiconductors.
The Multistrada V4 remains the most popular model
among Ducatisti with 8,301 motorcycles delivered.
Despite
the
negative
development
in
deliveries,
revenue increased by 5.4% to €542m, mainly due to a
strong price position. The operating profit reached
€68m, with an operating return on sales (ROS) of
12.6%.
1–6/2022
1–6/2021
in %
Revenue
542
514
5.4
Operating profit
68
59
14.9
ROS
12.6%
11.5%
1.1 ppt.
Financial highlights
Ducati Group, in €m / in % of revenue
ROS target
2022-20308–10%
>10% from 2030
€0.6bn
Investment
amount
2022-2026
1 Purchase price allocation (PPA)
1–6/2022
1–6/2021
in %
Scrambler
6,017
6,835
–12.0
Naked/Sport Cruiser (Diavel, 
Monster, Streetfighter)
12,014
11,486
4.6
Dual/Hyper (Hypermotard, 
Multistrada, Desert X)
11,601
11,344
2.3
Sport (Supersport, Panigale)
6,203
7,319
–15.2
Total
35,835
36,984
–3.1
Production
Ducati Group, in units
China: 7% (6%)
Europe: 57% (55%)
USA: 12% (14%)
Other markets: 24% (24%)
1–6/2022
1–6/2021
in %
Scrambler
4,989
6,968
–28.4
Naked/Sport Cruiser (Diavel, 
Monster, Streetfighter)
11,115
10,608
4.8
Dual/Hyper (Hypermotard, 
Multistrada, Desert X)
10,709
10,197
5.0
Sport (Supersport, Panigale)
6,452
6,742
–4.3
Total
33,265
34,515
–3.6
Deliveries to customers
Ducati Group, in units
Deliveries to customers by region
Ducati Group
Ducati Desert X
Highlights & 
Milestones
Overview
Markets &  
Products
Audi Group 
Financial KPIs
Premium 
Brand Group
ESG
Facts

21
Quarterly Update H1/2022 Audi Group
1 Audi regards net carbon 
neutrality as a state in 
which, following the 
exhaustion of other 
possible measures 
aimed at reducing the 
still remaining CO₂ 
emissions caused by 
the products or activi-
ties of Audi and/or 
currently unavoidable 
CO₂ emissions within 
the scope of the supply 
chain, manufacturing 
and recycling of Audi 
vehicles, at least 
quantitative compen-
sation is provided 
through voluntary and 
globally conducted 
compensation projects. 
Throughout the uti-
lization phase of a 
vehicle, meaning from 
when a vehicle is 
delivered to a custo-
mer, CO₂ emissions 
produced are not taken 
into account.
2 The decarbonization 
index (DCI) measures 
the average emissions 
of CO₂ and CO₂ equiva-
lents over the entire life 
cycle of the Audi 
passenger car portfolio 
and is stated in metric 
tons of CO₂ per vehicle. 
It includes both direct 
and indirect CO₂ 
emissions at the 
individual vehicles 
(Scope 1 and 2) as well 
as all further direct and 
indirect CO2 emissions 
over the vehicles’ life 
cycle (Scope 3).
Since 2021, the DCI has also been anchored in
the management remuneration as an integral
part of target achievement. In 2022, further
sustainability indicators will be included in the
remuneration systems, such as “taxonomy-
aligned” revenue shares according to the EU
taxonomy.
For
Audi,
however,
ESG
goes
beyond
pure
measures
to
reduce
CO2
emissions; it is considered holistically within
the company.
For more transparency and comparability with
competitors,
Audi
not
only
publishes
its
Combined Annual and Sustainability Report
and discloses voluntarily within the framework
of the EU taxonomy but will also face the ESG
rating of an independent rating agency in the
near future.
Anchoring Environment, Social and Governance at Audi
ESG overview
Audi is convinced that economic success is
inextricably linked to the exercise of social and
ecological responsibility. It is the aim to match
these objectives even more closely. In doing
so,
the
Four
Rings
want
to
take
over
responsibility for ESG and to differentiate
from competitors.
Starting in 2026, Audi will only launch new all-
electric models on the global market. From
2027, the company will offer electric models
in all core segments.
However, Audi activities go far beyond the
electrification
of
vehicles:
Production
at
several
Audi
sites
is
already
net
carbon-
neutral.1
By 2025, this will apply to all Audi plants.
Through the Decarbonization Index2 (DCI for
short), Audi focuses on CO2 emissions along
the entire automotive value chain – from raw
material extraction and production to driving
and recycling.
By 2030, the DCI is to be reduced by 40
percent compared with the reference year
2018.
Sustainability in the value chain is crucial for
Audi:
A
positive
Sustainability
Rating
(S-Rating), which was introduced at Audi in
2019, is a prerequisite for awarding a contract
to suppliers.
ESG
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22
Quarterly Update H1/2022 Audi Group
1 For further informa-
tion and definitions, 
please refer to the Audi 
Report 2021 p. 50.
2 Checks for steps 3 and 
4 are only conducted 
once a year in 
preparation for the FY 
figures
3 For further information 
on the BEV share please 
refer to the deliveries 
page
Revenue1
in €bn, in % of total
Audi voluntarily reports KPIs in accordance with the EU taxonomy regulation
EU taxonomy
Of the Audi Group’s total
capex (excl. Bentley),
€4.0bn, or 100%, was 
taxonomy-eligible capex 
€1.6bn, or 41.3%, was 
taxonomy-aligned capex
Capital expenditure1
in €bn, in % of total
Of the Audi Group’s total
opex (excl. Bentley),
€2.5bn, or 100%, was 
taxonomy-eligible opex
€0.8bn, or 33.4%, was 
taxonomy-aligned opex
Operating expenditure1
in €bn, in % of total
From eligible to aligned activities1
STEP 1
Eligibility
STEP 2
Screening criteria
STEP 32
“DNSH” criteria
STEP 42
Compliance with minimum 
safeguards
STEPS 1 – 4 Alignment
Screening criteria for the defined economic
activity have to be met, e.g. CO2 emissions of
0 g/km (BEV) or <50 g/km (PHEV).
Do-No-Significant-Harm (DNSH)
criteria for
the defined economic activity have to be met,
e.g. by the production process or the product
itself. The criteria include the prevention of
any substantial harm to the environmental
objectives like climate change adaption,
or
pollution prevention, among others.
Activity has to be carried out in compliance
with the minimum safeguards, e.g. human
rights, social and labor standards.
An activity is only considered environmentally
sustainable, i.e. taxonomy-aligned, if it meets
all requirements mentioned above from step 1
to step 4.
Of the Audi Group’s total 
revenue (incl. Bentley), 
€24.6bn, or 82.4%, was 
taxonomy-eligible 
revenue 
€3.7bn, or 12.3%, was 
taxonomy-aligned 
revenue
The taxonomy-aligned 
revenue contains 
€2.6bn, or 8.8%, revenue 
which was attributable to 
the BEV models3
taxonomy-eligible
not taxonomy-eligible
taxonomy-aligned
PHEV-related
BEV-related
An economic activity is considered taxonomy-
eligible if it is listed in the EU taxonomy and
can potentially contribute to at least one of
the 6 environmental objectives, e.g. climate
change mitigation.
FY 21
H1/22
33.4%
taxonomy-
aligned
€2.5bn
(100%)
15.8%
17.6%
100%
41.3%
taxonomy-
aligned
€4.0bn
(100%)
7.8%
33.5%
100%
12.3%
taxonomy-
aligned
€29.9bn
(100%)
3.5%
82.4%
8.8%
ESG
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23
Quarterly Update H1/2022 Audi Group
Faulty car windows often go in the trash bin when the
cracked part cannot be fixed. A closed material circuit
does not yet exist for damaged car glass.
This is where Audi and its partner companies Reiling
Glas Recycling, Saint-Gobain Glass, and Saint-Gobain
Sekurit are now doing pioneering work as part of a
joint pilot project.
The partner companies want to turn the damaged
auto
glass
into
recyclable
material
for
model
production and have drawn up a multi-stage process
for that purpose:
Pilot project started: Faulty car glass to be 
turned into new windowpanes for the 
Audi Q4 e-tron
Measurable progress – how Audi reduces the ecological footprint 
ESG – Environment (E)
Using an innovative recycling process, the car windows
are first broken into small pieces. Then all the non-
glass impurities like glue residue are eliminated. The
resulting glass granulate is melted down and turned
into new plate glass. That plate glass is then turned
into a new car window.
In the past, post-consumer glass from cars has not
been used in plate glass production, but rather for
different purposes with less rigorous requirements.
That is where the joint project begins: The partner
companies want to recycle the damaged glass back to
original quality.
If this pilot is successful, the windows that are
produced this way will be used in models in the Audi
Q4 e-tron series in the future. read more
The Science Based Target initiative (SBTi) assessed the
climate targets of the Volkswagen Group and all its
brands for the first time in September 2020. The
result was that these are in line with the requirements
of
the
Paris
Climate
Agreement
and
make
a
contribution to to limit global warming to well below
2 degrees Celsius.
Now another study has been conducted. It measured
and confirmed that the Volkswagen Group, with its
revised targets and plans in production and energy
supply, can also achieve the conditions for a global
warming limit of 1.5 degrees.
Among other things, the new plans envisage reducing
CO2 emissions in production by 50 percent by 2030
compared with 2018. By next year, Volkswagen Group
intends to obtain its energy entirely from renewable
energies at locations in the EU. In 2030, this is to
apply
to
locations
worldwide
outside
of
China.
read more
Independent initiative confirms tougher 
climate targets
ESG
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1.5 degree
target

24
1-6/2022
1–6/2021
in %
Domestic companies1
56, 265
57,064
–1.4
Foreign companies2
29,709
26,389
12.6
Employees
85,974
83,453
3.0
Apprentices
2,208
2,167
1.9
Employees of Audi Group 
companies
88,182
85,620
3.0
Staff employed from other 
Volkswagen Group companies not 
belonging to the Audi Group
453
453
0.0
Workforce Audi Group
88,635
86,073
3.0
Quarterly Update H1/2022 Audi Group
1 Of these employees, 
2,106 (2,176) were in 
the passive stage of 
their partial 
retirement.
2 The figure for the 
current year includes 
3,949 Bentley 
employees (not 
included in Audi Group 
figures H1/2021).
3 Live online or face-to-
face training, excluding 
web-based training.
Workforce Audi Group
Employees benefit from attractive offers and investment in know-how
ESG – Social & workforce (S)
Age structure
FY 2021, AUDI AG, excluding apprentices
2019
2020
2021
41.5
years
41.8
years
42.3
years
0.7
18.7
9.1
Turnover rate
(in percent, excl. apprentices,
average figure for the year)
Average length of service
(in years, excl. apprentices)
Average training time
per employee 
(in hours, indirect employees)
Proportion of women
(in percent, Audi Group)
15.4
> 50 years 31.5%
< 30 years 12.1%
30-50 years 56.4%
Average age
FY 2021 AUDI AG, excluding apprentices 
and fixed-term employees
Audi is designing a hybrid 
working world
Audi is expanding its hybrid work
model.
After
the
pandemic,
the
working world will be a mix of remote
and on-site work. Together with the
Works Council, the in-house Better
Normal
project
is
developing
solutions for every division of the
company,
also
for
areas
where
remote work is not possible. That is
how Audi is continuously promoting
the
company’s
digital
trans-
formation. read more
As part of this year’s GREENTECH FESTIVAL in Berlin, Audi
hosted an on-site stakeholder dialogue event. The dialogue
allowed Audi to receive feedback from external stakeholders
and experts on Audi’s new “Vorsprung 2030” strategy in
relation to (e-)mobility and circular economy.
The participants discussed the necessity to address mobility and
infrastructure issues in urban areas and adapt business models
to
include
Mobility-as-a-Service
concepts.
Furthermore,
impulses on circular economy stressed the importance of a
holistic approach, starting with the concept development stage.
Feedback on Audi’s stakeholder engagement process confirmed
the importance of regular exchanges to gain new perspectives
and make informed decisions.
Average for the year
“Vorsprung 2030” in dialogue with stakeholders
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25
Quarterly Update H1/2022 Audi Group
Thinking consistently from start to
finish: The life cycle assessment of a
vehicle shows where its environmental
footprint arises. This analysis helps
Audi
develop
measures
to
move
forward
quickly
towards
carbon-
neutral mobility.
While
the
general
public
tends
to
assess the sustainability of cars on the
basis of their fuel consumption, Audi
considers much more than just the CO₂
emissions created during driving. In
order to be a role model with regard to
the environment, the company aims to
offer
everyone
mobility
that
has
as
low
impact
on
nature
as
possible. This is why Audi is working
towards
making
its
products
and
services
environmentally
friendly
throughout all areas of the value chain
and across the entire life cycle of a
vehicle.
Life Cycle Assessment (LCA): The entire life of a car in view 
ESG – Governance (G)
But how is a life cycle assessment
prepared? Modern vehicles comprise
3,000 to 5,000 components – and LCA
experts analyze each of these based on
the bill of material and the material
data.
Additionally,
all
work
steps
required in production are recorded, as
are their environmental impacts.
This information is used to create a
huge database that is the basis for the
life
cycle
assessment,
which
is
conducted according to the standard
ISO 14040 ff.
The results of the LCA are one part of
the basis for Audi’s decarbonization
strategy and efforts. Therefore, the
LCAs are an important transparency
creating instrument.
The
life
cycle
assessments
are
published
on
a
regular
basis.
The
already existing life cycle assessments
at Audi can be found here.
New life cycle assessment publications
are in the making and will be published
soon.
Publication of life cycle assessment for
Audi BEV models
» Audi e-tron 55 quattro
» Audi Q4 40 e-tron
» Audi e-tron GT quattro
and further ICE and PHEV models.
Coming later this year
The life of a car
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26
Quarterly Update H1/2022 Audi Group
New strategy “Vorsprung 2030” sets the course for the coming years
Audi corporate strategy
last
ICE
2026
started
ROS
>11%
by 2030
ROI
>21%
AMBITION/
STRATEGIC TARGETS
Purpose
Ambition
Strategic Targets
Strategic Fields of Action
Operational 
Excellence
Financial 
Performance
People & 
Culture
At the top of the “Vorsprung 2030” strategy stands the purpose of Audi: “Meaningful
technology to keep the world in motion.”
It is based on the ambition to sell more than three million vehicles per year from 2030
onwards.
This
is
backed
by
clear
strategic
targets,
such
as
an
ROS
of
more
than
11 percent from 2030 on, and a clear plan for phasing out combustion engines.
Strategic fields of action (SFA) define the way there. Audi defined six SFAs including, for
example,
“the
last
internal
combustion
engine,”
“differentiated
BEVs”
or
“ESG performance.”
In the future, ESG (Environment – Social – Governance) aspects are to play an even more
important role in all decisions made by Audi, as well as in its products and services. The
Four Rings want to take over responsibility for ESG and to differentiate from competitors.
The main ESG criteria are climate protection, the use of finite resources, employee health
and safety and the perception of social responsibility. Another consideration is the
robustness of Audi’s corporate governance, for example in terms of compliance and risk
management.
The new corporate strategy is based on a foundation made up of Operational Excellence,
Financial Performance and People & Culture, which focuses on employees as a central
element.
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27
Quarterly Update H1/2022 Audi Group
Volkswagen Group synergies enable global manufacturing footprint for the Audi Group
Production sites
1 Ingolstadt, Germany
AUDI AG
Q2, SQ2, A3 Sedan,
A3 Sportback, S3 Sedan, 
S3 Sportback, RS 3 Sportback,
RS 3 Sedan, A4 Avant, 
A4 Sedan, S4 Sedan, 
S4 Avant, RS 4 Avant,
A5 Coupé, A5 Sportback, 
S5 Coupé, S5 Sportback, 
RS 5 Coupé, RS 5 Sportback
2 Neckarsulm, Germany 
AUDI AG, Audi Sport GmbH
A4 Sedan,
A5 Cabriolet, S5 Cabriolet, 
A6 Avant, A6 Sedan,
S6 Avant, S6 Sedan,
RS 6 Avant, A7 Sportback, 
S7 Sportback, RS7 Sportback, 
A8, A8 L, S8, S8 L,
R8 Coupé, R8 Spyder,
e-tron GT quattro, RS e-tron GT
3 Brussels, Belgium
Audi Brussels S.A./N.V. 
e-tron, e-tron Sportback,
e-tron S, e-tron S Sportback
4 Győr, Hungary 
Audi Hungaria Zrt.
TT Coupé, TT Roadster, TTS Coupé, 
TTS Roadster, TT RS Coupé, 
TT RS Roadster, Q3,
Q3 Sportback, RS Q3,
RS Q3 Sportback
5 Zwickau, Germany 
Volkswagen AG
Q4 e-tron, Q4 e-tron Sportback
6 Bratislava, Slovakia 
Volkswagen  Slovakia, a.s.
Q7, SQ7, Q8, SQ8, RS Q8
7 Martorell, Spain
SEAT, S.A.
A1 allstreet, A1 Sportback, 
RS 3 Sedan
8 Sant’Agata Bolognese, Italy  
Automobili Lamborghini S.p.A.
Aventador Coupé, 
Aventador Roadster, 
Huracán Coupé, 
Huracán Spyder, Urus
9 Bologna, Italy  
Ducati Motor Holding S.p.A.
DesertX, Diavel, Hypermotard, 
Monster, Multistrada, Panigale, 
Scrambler, Streetfighter, SuperSport 
11 Kaluga, Russia
Volkswagen Group RUS
no production
12 Changchun, China
FAW-Volkswagen 
Automotive Co., Ltd.
A4 L Sedan, A6 L Sedan, Q5 L, 
Q5 L Sportback, e-tron
13 Tianjin, China
FAW-Volkswagen 
Automotive Co., Ltd.
Q3, Q3 Sportback
14 Quingdao, China
FAW-Volkswagen 
Automotive Co., Ltd.
A3 Sedan, A3 Sportback
15 Anting, China
SAIC Volkswagen 
Automotive Co., Ltd. 
Q5 e-tron, A7 L Sedan
16 Foshan, China
FAW-Volkswagen 
Automotive Co., Ltd.
Q2 L, Q2 L e-tron
17 Amphur Pluakdaeng,  Thailand 
Ducati Motor (Thailand) Co., Ltd. 
Diavel, Hypermotard, Monster, 
Multistrada, Panigale, Scrambler, 
Streetfighter, SuperSport
18 Aurangabad, India
ŠKODA AUTO Volkswagen
India Private Limited
A4 Sedan, A6 Sedan, Q5, Q7
19 San José Chiapa, Mexico 
Audi México S.A. de C.V.
Q5, SQ5, Q5 Sportback, SQ5 Sportback
20 Manaus, Brasil
DUCATI DAFRA da Amazônia  
Indústria e Comércio de  
Motocicletas Ltda. 
Diavel, Multistrada, Scrambler, 
Streetfighter
21 São José dos Pinhais, Brazil
Audi do Brasil Indústria e 
Comércio de Veículos Ltda
Q3, Q3 Sportback
Audi brand
Lamborghini
Ducati
5
9
19
20
21
3
8
1
11
17
13
14
7
6
4
18
15
16 
12
2
Sant’Agata Bolognese, Italy
Bologna, Italy
Kaluga, Russia
Győr, Hungary
Ingolstadt, Germany
Neckarsulm, Germany
Martorell, Spain
Bratislava, Slovakia
Zwickau, Germany
Aurangabad, India
Amphur Pluakdaeng, Thailand
Foshan, China
Anting, China
Quingdao, China
Tianjin, China
Changchun, China
San José Chiapa, Mexico
Manaus, Brazil
São José dos Pinhais, Brazil
Brussels, Belgium
27
P A C I F I C
O C E A N
A T L A N T I C
O C E A N
I N D I A N
O C E A N
10 Crewe, United Kingdom
Bentley Motors Ltd.
Continental, Bentayga, Flying Spur
Bentley
10
Crewe, United Kingdom
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28
Quarterly Update H1/2022 Audi Group
1 Audi model range in 
the German market, 
consumption and 
emission figures and 
current detailed 
portfolio overview 
available online.
2 Consumption and 
emission figures and 
current detailed 
portfolio overview 
available online.
3 Bentley was 
consolidated as of
January 1, 2022; 
consumption and 
emissions figures and 
current detailed 
portfolio overview 
available online.
4 Current detailed 
portfolio overview 
available online.
Audi, Lamborghini, Bentley and Ducati cover a broad portfolio.
Product portfolio
Audi1
excluding models offered only on the Chinese market
Lamborghini2
excluding limited series 
Bentley3
excluding limited series 
e-tron GT
e-tron
A1
A3
A4
A5
A6
A7
A8
Q2
Q3
Q4 e-tron
Q5
Q7
Q8
TT
R8
Bentayga
Continental
Flying Spur
Urus
Huracán
Aventador
Diavel
Hypermotard
Monster
Streetfighter
Scrambler
Multistrada
Panigale
SuperSport
e-bikes
Ducati4
BEV
ICE
PHEV
2
2
2
1
1
1
2
2
1
2
2
1
1
DesertX
XDiavel
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29
Quarterly Update H1/2022 Audi Group
October 28, 2022
Third Quarter 2022
Dates of financial publications in 2022
Financial calendar
29
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30
Quarterly Update H1/2022 Audi Group
The current presentations as well as remarks/comments and explanations in this
context contain forward-looking statements on the business development of the Audi
Group. These statements are based on assumptions relating to the development of
the economic, political and legal environment in individual countries, economic
regions and markets, and in particular for the automotive industry, which we have
made on the basis of the information available to us and which we consider to be
realistic at the time of going to press. The estimates given entail a degree of risk, and
actual developments may differ from those forecast.
At the time of preparing these presentations, it is not yet possible to conclusively
assess the specific effects of the latest developments of the Russia-Ukraine conflict
on the Audi Group’s business, nor is it possible to predict with sufficient certainty to
what extent further escalation of the Russia-Ukraine conflict will impact on the global
economy and growth in the industry in fiscal year 2022.
Any changes in significant parameters relating to our key sales markets, or any
significant shifts in exchange rates or commodities relevant to the Audi Group or the
supply with parts (especially semiconductors), or deviations in the actual effects of
the Covid-19 pandemic from the scenario presented will have a corresponding effect
on the development of our business. In addition, there may be departures from our
expected business development if the assessments of the factors influencing
sustainable value enhancement and of risks and opportunities presented develop in a
way other than we are currently expecting, or if additional risks and opportunities or
other factors emerge that affect the development of our business.
We do not update forward-looking statements retrospectively. Such statements are
valid on the date of publication and can be superseded.
This information does not constitute an offer to exchange or sell or an offer to
exchange or buy any securities.
Disclaimer
Disclaimer
30
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31
Quarterly Update H1/2022 Audi Group
The stated consumption and emission values were determined according to the
legally prescribed measurement methods. On January 1, 2022, the WLTP test cycle
completely replaced the NEDC test cycle, which means that no NEDC values are
available for newly type-approved vehicles after that date.
The information does not refer to a single vehicle and is not part of the offer, but is
solely for comparison purposes between the different vehicle types. Additional
equipment and accessories (add-on parts, tire format, etc.) can change relevant
vehicle parameters such as weight, rolling resistance and aerodynamics and, in
addition to weather and traffic conditions as well as individual driving behavior,
influence the fuel consumption, power consumption, CO2 emissions and driving
performance values of a vehicle.
Due to the more realistic test conditions, the fuel consumption and CO2 emission
values measured according to the WLTP are in many cases higher than those
measured according to the NEDC. As a result, there may be corresponding changes in
vehicle taxation since September 1, 2018. For more information about the
differences between WLTP and NEDC, see www.audi.de/wltp.
Further information on official fuel consumption figures and the official specific CO₂
emissions of new passenger cars can be found in the “Guide on the fuel economy, CO₂
emissions and power consumption of all new passenger car models,” which is
available free of charge at all sales dealerships and from DAT Deutsche Automobil
Treuhand GmbH, Hellmuth-Hirth-Str. 1, 73760 Ostfildern-Scharnhausen, Germany
(www.dat.de).
DAT disclaimer
Disclaimer
31
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