Audi Chief Exec says Currency Volatility Won't Impact 1996 Results

09/03/96

Reuters reported that Audi AG management board chairman Herbert Demel said on Thursday that the German luxury carmaker, a unit of Volkswagen AG, did not expect any burden on its 1996 results from currency market volatility.

Demel told a shareholder meeting last April that Audi would have reported a 300 million marks increase in 1995 profits if exchange rates had stayed the same as in 1994. Demel said Audi had hedged about half of its currency risk for 1996.

Paul Dever -- The Auto Channel