Audi said it had the best quarterly results in its history with record earnings and new car sales in the first three months.
First-quarter revenue rose 27.3 percent to 10.5 billion euros as the company delivered 312,600 vehicles worldwide, up 18.4 percent from 264,017 in the year-ago quarter, the carmaker said Monday.
Audi plans to increase deliveries of the core brand to around 1.2 million vehicles in 2011.
The company said it expects the global economic rebound to boost demand for new cars in 2011. "Demand for new vehicles will rise in all significant sales regions with the exception of Western Europe," Audi said in its financial report for the first quarter.
Audi more than doubled its operating profit to 1.1 million euros from 478 million euros in the first quarter of 2010.
"These earnings show that our qualitative growth strategy is working," said Axel Strotbek, Audi's finance chief, in a statement.
Audi said the company 's 10.6 percent operating return on sales, compared with 5.8 percent the year before, follows on from the good results in the third and fourth quarters of 2010. "This strong growth underscores the high profitability of the Audi Group," the company said.
New models launched in 2010, such as the A8 flagship, the A7 Sportback and the Audi A1, helped to contribute to the strong performance of the brand. "Demand for these models remained high in the first quarter, " Audi said.
New launches this year will continue the growth. The new A6 launched on April 1 and a station wagon version, the A6 Avant, will go on sale during the second half. The Q3 SUV will launch in June.
Bloomberg, Reuters contributed to this story