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VW raises 2020 sales outlook on emerging-market growth, SUVs

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VW raises 2020 sales outlook on emerging-market growth, SUVs

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BERLIN (Reuters) – Volkswagen <VOWG_p.DE> has increased its group sales guidance for 2020 on growing demand for its new sport-utility vehicles in emerging markets such as Brazil and Russia. The world’s largest automaker now expects group revenue to exceed last year’s record of 217 billion euros (£193 billion) by more than a quarter by 2020, compared with a rise by more than a fifth published in March, the carmaker said on Monday. VW also said 2020 group operating profit could rise by more than a quarter from the 7.1 billion euros reached in 2016 after guiding in March for that measure to exceed year-ago levels by 25 percent. Group pretax profit is now seen growing by 30 percent or more by the end of the decade from 2016 levels, compared with a guidance for growth of 25 percent or more published in March, VW said.

(Reporting by Andreas Cremer; Editing by Arno Schuetze)
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