Audi Q1 Sales Slip Due to Euro Exchange Rate, Operating Profits Up 28%

Audi's sales dipped in the first quarter worldwide, a fact blamed on a strengthening Euro. With Europe's currency growing ever stronger, the car manufacturer said it expected it s momentum in places such as the U.S. and Western Europe to slow while stronger growth is expected in markets such as China, India and Russia will hopefully offset the slow-down.

Interestingly, first quarter operating profit was up. In the same period sales slipped, operating profit was up by 28 percent, perhaps a bit of the 'Porsche effect' since Audi parent Volkswagen AG is in the midst of major investment by Porsche - the most profitable car company in the world. Full Story