Audi sticking to EV strategy despite headwinds, says CEO

INGOLSTADT (Reuters) - Audi Chief Executive Gernot Doellner said on Tuesday that the Volkswagen subsidiary was sticking to its electric vehicle strategy despite facing strong headwinds this year.

Audi remains committed to bringing the last vehicle with a combustion engine onto the market in 2026, he said, with the dates set even if the details of how it's done are flexible.

The company said that it expects a decline in sales and profits for the year as general conditions are very challenging.

Chief Financial Officer Juergen Rittersberger spoke of a "transitional year": 2024 will be even more demanding than 2023.

Rittersberger said Audi had launched an austerity program to achieve its long-term profit margin goal, including improvements in sales and lower product costs, but did not give any details.

(Reporting by Christina Amann; Writing by Miranda Murray; Editing by Rachel More)