UPDATE 1Audi sees tough U.S. market until fourth quarter
(Adds further quotes, detail)
DETROIT, March 11 (Reuters) - Audi AG (NSUG.DE: Quote, Profile, Research) expects a
tough market for U.S. auto sales until at least the fourth
quarter but sees no signs that the U.S. economy is slipping
into recession, a senior executive said on Tuesday.
“We certainly are seeing an economic contraction, but we
don’t speak of recession,” Audi Executive Vice President Johan
de Nysschen told reporters on a conference call.
He added: “We’re facing seven to nine tough months ahead of
us.”
Audi Chief Executive Rupert Stadler said the German premium
automaker would not respond to weakness in the U.S. market by
raising incentives. “As an organization we have decided not to
buy market,” Stadler said.
Audi expects the market for diesel-driven vehicles to grow
to represent some 10 to 15 percent of the U.S. auto market by
2015, a trend that it expects will boost its share as well.
Audi has set a target of topping 100,000 vehicle sales in
the United States in 2008, up from 93,500 in 2007 when sales
grew by 3 percent.
Beyond that, Audi intends to double its U.S. sales volume
to 200,000 by 2015 as it strengthens its U.S. dealer base and
rolls out up to 15 more models, executives said.
A new version of Audi’s flagship A4 model, which
represented almost 40 percent of U.S. sales in 2007, will be
launched in the U.S. market in the third quarter. Continued…
