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Audi reports 'very successful' first quarter

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The Audi Group has reported a "very successful" first quarter this year, with revenues nearly matching the record level set in the first three months of 2012.

Posting revenues of €11.734 billion and an operating profit of €1.307 billion, the carmaker said it was "pushing ahead with its growth strategy and investing heavily in the future".

Board member for finance Axel Strotbek said that "despite the difficult economic environment and our substantial advance payments, we achieved an operating return on sales of 11.1 per cent" - well above the manufacturer's strategic target corridor of eight to ten per cent.

Mr Strotbek added that Audi plans to invest substantially in new products and technologies.

In the first three months of 2013, Audi delivered a total of 369,494 vehicles worldwide - 6.8 per cent more than in the previous year. The carmaker claimed the new A3, A4 and A1 Sportback in particular had generated significant interest.ADNFCR-2576-ID-801581542-ADNFCR

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