The Audi 2026 forecast cut came with the company’s nine-month results on October 30. Audi now expects 2026 revenue of 55 to 59 billion euros and an operating margin of just 3 to 5 percent, after a third quarter it described as markedly tougher.
Reports from AFP and others said this was the second time Audi had cut its outlook this year.
The numbers explain why. Audi’s deliveries fell sharply in China and North America, its operating margin dropped to 2.7 percent, and even Lamborghini and Ducati, which report through the Audi Group, saw profits slip. Here is what happened and what it means for Indian buyers.
Why did Audi cut its 2026 forecast?
Audi blamed a marked deterioration in market conditions in the third quarter, especially in China, plus strong competition and price pressure worldwide. It also cited US tariffs, higher energy costs linked to the Middle East situation, Chinese export pressure in Europe, and the gap left as the A1 and Q2 make way for the electric A2 e-tron.
| Audi Group, January to September | 2026 | 2025 |
|---|---|---|
| Revenue | €42.06 billion | €48.38 billion |
| Operating profit | €1.15 billion | €1.56 billion |
| Operating margin | 2.7% | 3.2% |
| Net cash flow | €2.44 billion | €2.11 billion |
| Profit after tax | €1.22 billion | €2.06 billion |
| Brand Group deliveries | 1,056,103 | 1,191,141 |
The new full-year forecast is revenue of €55 to 59 billion, an operating margin of 3 to 5 percent and net cash flow of €2.5 to 3.5 billion. It does not include any restructuring costs beyond those agreed in 2025.
Where did Audi lose the most sales?
China and North America. Audi brand deliveries fell 11.4 percent worldwide in the first nine months, to 1,042,150. China, Audi’s biggest market, dropped 24.5 percent and North America fell 17.3 percent. Germany and the rest of Europe grew slightly, and plug-in hybrid deliveries more than doubled.
| Region | Audi brand deliveries, Jan-Sept 2026 | Change |
|---|---|---|
| Worldwide | 1,042,150 | Down 11.4% |
| China (incl. Hong Kong) | 328,042 | Down 24.5% |
| Europe (excl. Germany) | 360,649 | Up 1.3% |
| Germany | 152,011 | Up 1.8% |
| North America (excl. Mexico) | 128,749 | Down 17.3% |
| Overseas and growth markets | 72,699 | Down 9.6% |
Electric cars told a mixed story. Global battery-electric deliveries fell 12 percent to 143,748, but BEV sales grew 84.7 percent in China and 39.1 percent in Germany. In North America, Audi’s BEV deliveries collapsed by 87.8 percent.
How did Lamborghini, Ducati and Bentley do?
Lamborghini stayed highly profitable but earned slightly less. Its operating profit fell to €564 million with a 22.3 percent margin, down from 24.6 percent. Ducati’s deliveries dropped to 39,093 motorcycles and its margin fell to 4.4 percent. Bentley had the toughest run, with deliveries down to 5,970 and a 3.5 percent margin.
| Brand (Jan-Sept 2026) | Deliveries | Revenue | Operating margin |
|---|---|---|---|
| Lamborghini | 7,983 (8,140) | €2.53 billion (€2.41 billion) | 22.3% (24.6%) |
| Ducati | 39,093 (41,943) | €659 million (€732 million) | 4.4% (6.0%) |
| Bentley | 5,970 (7,236) | €1.42 billion (€1.89 billion) | 3.5% (6.1%) |
Figures in brackets are for January to September 2025. Ducati matters to Indian riders, where it keeps adding models such as the Hypermotard V2. Its lower margin does not by itself signal any change to Indian plans.
Is Audi’s electric car plan in trouble?
Not in every market, but it is uneven. Battery-electric deliveries fell 12 percent worldwide, and in North America they almost disappeared, down 87.8 percent. Yet BEV sales rose strongly in China and Germany, and plug-in hybrids more than doubled. Audi is clearly leaning on hybrids while its electric range catches up.
The A2 e-tron is the important test. It replaces two entry models, the A1 and Q2, and Audi admits the changeover itself hurt this year’s numbers. If the A2 e-tron sells well in Europe from December, it will cover a big hole in Audi’s line-up.
For India, the electric picture matters less for now. Audi’s Indian sales are still mostly petrol models, and Audi India has not announced when the A2 e-tron or other new EVs might come here.
What is Audi doing to recover?
Cutting costs and renewing products. Audi says it is reducing complexity, raising efficiency at all sites and investing in software, artificial intelligence and driver assistance. On products, the large Q9 SUV goes on sale from November, and the electric A2 e-tron reaches European dealers in December.
CEO Gernot Döllner said the economic situation demands that Audi consistently renew itself, by reducing costs, increasing quality and productivity, and making targeted investments in new products and technologies.
There are bright spots. The new RS 5, Audi’s first RS plug-in hybrid, has sold out its planned 2026 production, and Audi says it received nearly twice as many orders in Europe as expected. The A2 e-tron took 21 months less to develop than comparable earlier models. Audi also plans local production in the US to strengthen its position there.
What does Audi’s forecast cut mean for India?
Probably not much in the short term. India is not listed separately in the results. Audi India had already said 2026 would be flat, blaming product gaps rather than weak demand, and it is counting on the new-generation Q3, then the A5 and Q9 in 2027, to return to double-digit growth.
In comments reported by Business Standard on October 15, Audi India brand director Balbir Singh Dhillon said, “For me, the limitation is not demand. The limitation is the availability.” He expects India’s luxury car market to reach about 58,000 units in 2026, up from 52,000 last year. Our guide to the 2026 Audi Q3 in India covers what that launch offers.
Dhillon also said the euro’s rise against the rupee has offset much of the price benefit from GST cuts, which is a bigger day-to-day issue for Indian buyers than Audi’s global margin.
Audi 2026 forecast cut: confirmed vs not confirmed
| Item | Status |
|---|---|
| New 2026 forecast: €55-59 billion revenue, 3-5% margin | Confirmed by Audi |
| Second forecast cut this year | Reported by AFP and others |
| Q9 on sale from November, A2 e-tron in Europe from December | Confirmed for Europe |
| India sales figure in the results | Not disclosed |
| Audi India 2026 sales flat | Audi India’s own expectation |
| A5 and Q9 for India in 2027 | Audi India plan, timing may change |
| Further restructuring | Not included in forecast; talks with works council |
CarBike Insight Analysis
Audi’s problem is that its two biggest profit pools are shrinking at once. China is moving fast to local brands and electric cars, and the US is costly because of tariffs. Europe is holding up, but it is crowded and price-sensitive. That leaves Audi with less room to absorb mistakes, and every new model now carries more pressure to succeed quickly.
For Indian buyers, the bigger risk is not Audi’s global margin but product timing and the exchange rate. A weaker rupee makes imported parts and cars dearer, and a cost-cutting parent may slow decisions on local assembly. The broader rise in Indian luxury car sales means Audi cannot afford long product gaps here.
Who should wait? Buyers who want an A4-sized Audi sedan should wait for the A5, which Audi India plans for the first half of 2027. Who should not? Buyers set on the new Q3. It is the model Audi India is prioritising now, and festive-season supply is likely to be tight.
FAQ
Why did Audi cut its 2026 forecast?
Audi cited a sharp third-quarter deterioration, especially in China, plus tougher competition, price pressure, US tariffs and higher energy costs. It now expects revenue of 55 to 59 billion euros and a 3 to 5 percent operating margin.
How much did Audi’s profit fall?
Audi Group’s operating profit for January to September 2026 fell to 1.15 billion euros from 1.56 billion a year earlier. The operating margin dropped to 2.7 percent from 3.2 percent, and profit after tax fell to 1.22 billion euros.
Which markets hurt Audi the most?
China and North America. Audi brand deliveries fell 24.5 percent in China and 17.3 percent in North America in the first nine months. Germany grew 1.8 percent and the rest of Europe grew 1.3 percent.
Does this affect Audi cars in India?
Not directly. India is not reported separately. Audi India already expects flat 2026 sales because of product gaps, and it plans to return to double-digit growth from 2027 with the new Q3, A5 and Q9.
How did Ducati and Lamborghini perform?
Lamborghini delivered 7,983 cars with a 22.3 percent margin, down from 24.6 percent. Ducati delivered 39,093 motorcycles with a 4.4 percent margin, down from 6.0 percent. Both reported lower operating profit than last year.
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