Audi to invest €80m in increasing Irish presence

GERMAN car maker Audi is to invest €80 million in upping its presence and becoming one of the leading brands on Irish roads inside the next five years.

The investment will be used to enhance Audi’s retail network in Ireland over the next three years and the company is aiming to become the number one prestige car brand here by 2015.

Despite a slump in luxury car sales here last year, the German company still managed to increase its share of the Irish market from 3.35% to 4.2%.

Fintan Knight, director of Audi Ireland, said that despite some uncertainty remaining in the market, the company is confident of its growth plans.

“In 2010 we expect some recovery in the economy and a return to stability in the financial and regulatory environment. We believe, however, that the period of adjustment for the automotive sector is likely to be prolonged and several significant risks remain. Audi regained full ownership in Ireland in 2008 with a five-year plan to invest in the brand and we’ve been resolutely sticking with our plan,” he added.

Audi leads the prestige car market in Europe, with a 4.3% market share.