Audi to earn a profit in US this year

INGOLSTADT: Volkswagen's premium brand Audi AG expects to return to the black in the United States for the first time after years of losses burdened by adverse currency headwinds.

"Audi AG will earn money this year in the USA and we will see to it that this remains the case," Audi sales chief Peter Schwarzenbauer told Reuters on Friday, adding he expected to sell around 100,000 vehicles there for the first time ever.

Only the local US unit Audi of America Inc. has been profitable in recent years, since exchange rate losses are not booked on a national sales company level. Schwarzenbauer attributed part of Audi's success to its focus on profitable growth. Its cars only need incentives of some $3,000 per vehicle on average compared to around $5,000 for Mercedes-Benz and BMW brand vehicles, he explained.