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Audi January sales down 29 percent
'This year won't be easy for anyone,' Peter Schwarzenbauer, an Audi board member responsible for marketing, said in a statement. 'At Audi our strategy remains expansive,' he added. 'Our young product range has been well-received in comparison with our competitors -- this is proven by our growing market share.' Audi said January sales in Europe were down 31 percent to 38,000 cars. They were 26 percent lower in the U.S. at 4,722. Asia-Pacific region sales fell 22 percent to 10,400. Audi said there were some bright spots -- such as Australia, where January sales were up 6 percent to 1,081 cars. The company said its share of the U.S. premium market rose slightly to 7.2 percent. In western Europe, its market share rose to around 5 percent from below 4 percent. Audi reports complete earnings on March 10. Parent company Volkswagen AG, Europe's largest carbuilder, reports earnings March 12. Shares of Audi were trading up 8 percent in Frankfurt at euro485 ($621), while Volkswagen shares were down 3 percent at euro253.30.