Audi: A study on its history and its reach in the global markets
"The Audi brand of cars is produced by Audi AG Company, a German automobile production firm of cars. The company is based in Ingolstadt, Germany. During its early days in 1964, Audi was entirely owned as a subsidiary of the Volkswagen Group. In 1965, the brand name of Audi was started by Volkswagen with the launch of Audi 60. The launch was followed by the purchase of Auto Union assets by Volkswagen from Daimler-Benz, its past owner.
The name Audi is derived from the family name of the company's founder, August Horch. The name Horch refers to ?hark' and in Latin, the same word means, ?Audi'. The company manufactures electrified automobiles so as to avoid corrosion. August Horch founded the company Horch and Co in 1899 and invented his first car in 1901. During the war years, Audi had to produce vehicles to support the war efforts. Soon after the war, the recession had a drastic impact on the company. When the founder August Horch left the management in 1920, the company had to survive through hard times. The management soon changed and the Auto Union was founded. The new union faced tremendous success in the years to come. The present look of Audi has a history that spans more than 100 years of automobile construction. The company has witnessed an exciting adventure from the late 19th century.
At Present, Audi is 99% owned by Volkswagen and ranks as the third largest premium car manufacturer in the world. The frontrunners are Mercedes-Benz and BMW. During the end of 2010, Audi had sold 829,307automobiles as against Mercedes-Benz's 928,872 and BMW's 892,737. In 2010, Audi's sales increased by 17.6%, though it faced a dip in sales due to the fall in sales in the global car market in the recent years of global recession.
Audi's success and growth pattern provided an optimistic outlook for the company in the long run. Currently, Audi's collection covers markets all over the world. There is significant growth in Eastern European markets and Asian-Pacific markets. Also, the market share for the company expanded in North America, Western Europe and Latin America.
However, the brand needs to establish the reliability factor as it needs to produce automobiles that are innovative, and highly reliable to customers, to survive in the markets. The company's main strengths comprise its ability to build a better brand and improve its image. The company believes in the motto: ?Progress through Technology?