Luxury carmaker Audi contributed the bulk of Volkswagen’s cash and earnings in 2009 and forecast better results this year, Reuters reported Tuesday.
Although BMW has yet to publish earnings, it is almost certain that Audi surpassed its Bavarian rival, Daimler’s Mercedes-Benz and even future sibling Porsche as the most profitable premium carmaker in the world — underlining its importance to parent VW.
“Times have changed. We are no longer the hunter, we are the hunted,” Audi Chief Executive Officer Rupert Stadler said. Audi’s profit last year $1.77 billion.
VW officials have said they are considering building Audi models at its Chattanooga plant.
Unum outlook upgraded
A.M. Best Co. has revised its outlook for Unum from stable to positive based on the insurer’s improved capital position, solid operating results and good investment performance in 2009, according to a news release.
The revised outlook reflects Chattanooga-based Unum’s top-ranked position as the leading disability income writer and the second-largest writer of voluntary business in the United States, according to A.M. Best.
“This news is another positive sign to our shareholders, customers and brokers about our strong financial position,” said Tom White, senior vice president for investor relations.