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Audi Coronavirus Financial Relief and New Car Incentives

In March of this year, the world as we knew it underwent a dramatic shift that will not be forgotten for generations to come. Industries far and wide have suffered from the economic setbacks brought on by the Coronavirus pandemic. Every American has been impacted by this crisis, and the American auto industry is an unfortunate inclusion.

Audi Coronavirus Financial Relief and New Car Incentives

The year 2020 started off on a high note for Audi SUV sales, as the brand's staple vehicle line was up 37% for the year versus the first two months of 2019. Sales for the reinvigorated 2020 Audi Q7 were up 25%, but the real shining star was the stylishly redesigned Q3. The Q3 was a tremendous success, increasing by an eye-popping 1,326% in sales. No, that was not a typo. To put it simply, Audi was off to a fast start in 2020.

But as was the case with many companies, Audi fell victim to the fallout created by COVID-19 that put most of the U.S. into quarantine in mid-March. Audi’s overall sales for the month fell a staggering 52%, dropping the brand’s first-quarter sales into the red, down a total of 14%. The dramatic decline in sales is expected, given the circumstances. But nonetheless, Audi finds itself amongst a collection of businesses and corporations trying to find their way through this crisis from both a health and financial perspective.

Audi is one of many automakers that are taking initiative to assist its customers who have endured recent financial issues as a result of COVID-19. The following is a summary of Audi’s initiatives regarding Coronavirus car payment plans as well as new car incentives to prospective buyers.

Audi Customer Relief Programs - Find the best deals!

Audi is empathetic to the struggles that many of its customers may be enduring in the face of the Coronavirus pandemic, so the brand is offering relief in many facets, starting with its existing customers. Existing owners and lessees who find themselves in the midst of unexpected hardship that could force them to potentially miss one or more payments are being offered several options for financial relief. Some of these options include payment deferrals or extensions on expiring leases.

Audi is encouraging Audi Financial Services (AFS) customers to manage their accounts online via myAudi at audifs.com. The portal on the homepage is where Audi customers can directly manage and make changes to their accounts. Customers are encouraged to reach out on this website to address changes in their financial situation and to discuss potential relief eligibility. Audi Financial Services indicates that most of the necessary account modifications can be initiated online through the company’s website. Customers also have the ability to view account statements and make payments online through the online portal.

Consumers who wish to speak with an AFS representative directly can get their questions answered regarding their available payment and lease turn-in options. Customers can reach AFS by telephone at (888) AFS-AUDI. Keep in mind, AFS is experiencing long hold times at its contact centers at the moment. Audi appreciates its customer’s patience while its representatives assist the growing number of people in need of help during these difficult times.

Audi understands that many of its customers did not purchase or lease their vehicles through Audi Financial Services. The automaker is advising these customers to contact their lender directly to discuss their options for relief assistance.

Most lenders have programs in place to assist those who have been affected by the crisis surrounding COVID-19. This includes various payment deferral options, though eligibility is often determined on a case-by-case basis. Discuss the specific options available to you directly with your lender.

 
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Audi New Car Incentives - Find the best deals!

Audi's parent company, Volkswagen, recently announced the Community-Driven Promise that extends an option to qualified new buyers to delay their first payment for up to 180 days. In addition, Volkswagen added 0% financing for up to 72 months into the offer, which is set to run through April 30th.

Similar to a number of other luxury brands, Audi is charting a different path through the crisis at hand. The company has yet to announce a national program in response to the Coronavirus. Instead, it is focusing more heavily on providing relief to its existing customers while also relying on its regional and local offers and incentives in the interim.

Most current Audi owners are eligible for a $2,000 loyalty incentive on 2019 model-year vehicles and a $1,000 incentive on 2020 model-year vehicles. Audi also offers other incentive programs that include corporate sales, military sales, a college graduate program, and a first-time buyer program. In addition, Audi has a program for diplomats and a program for foreign business professionals. Each of the programs includes special financing and lease offers to qualified customers.

Audi Factory Closures - Find the best deals!

Audi does not currently have a U.S. manufacturing facility, however, the company does produce vehicles in Mexico. The majority of Audi’s vehicle production takes place in Ingolstadt and Neckarsulm, Germany, in addition to the company’s other plants in Belgium and Hungary. Currently, all Audi factories in Europe and several others around the globe have suspended operations in response to COVID-19. More than 75,000 workers have been idle as a result of the temporary shutdowns, which are scheduled to end at European factories when they plan to reopen next week.

There are many Audi dealers in the U.S. that remain open for sales, service and parts business, where not prohibited by national or regional ordinances. Automobile service is considered an essential business in many areas, and several Audi dealers are still continuing to sell vehicles at their dealerships, with most offering "touchless" at-home delivery for its customers. Audi continues to help flatten the curve and practice responsible social distancing.

Audi Economic Outlook & Sales Forecast - Find the best deals!

To date, representatives from Audi or its parent company Volkswagen have yet to comment on the brand’s sales outlook for the remainder of the year, nor have they commented on their overall outlook on sales for the rest of 2020.

J.D. Power released a statement regarding its 2020 outlook of 16.8 million U.S. light-vehicle sales, an outlook that was calculated before the globe was ground to a halt because of the Coronavirus pandemic. Due to the substantial strain the virus has put on the entire economy, it is no longer feasible to realistically attain these figures. J.D. Power expects sales to likely fall in the range of 14 to 16 million units due to the growing recovery efforts ahead due to the Coronavirus.