Forecast Of The Day: Volkswagen’s Audi Cars Sold
Volkswagen’s (OTCMKTS:VWAGY) Audi unit sold about 1.13 million vehicles in 2019, with the number declining to 0.97 million in 2020. Trefis expects the metric to rise to about 1.07 million in 2021 and to about 1.18 million in 2022.
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While sales fell in 2020 due to the Covid-19 pandemic, we expect to see a recovery going forward. Moreover, the luxury vehicle market is also expected to grow at a faster pace versus the overall vehicle industry in the long run.
Audi is VW’s most valuable business per our estimates and we don’t think the projected recovery in volumes is priced into VW stock yet. We value VW stock at about $47 per share, about 50% ahead of the current market price.
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