February 15, 2008

VW's Audi Sticks with Growth Forecasts Amid Economic Concerns

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AUBURN HILLS, MI – Audi AG, Volkswagen AG's luxury brand, said it's sticking with sales-growth forecasts made earlier this month before global stock markets plunged amid concern that the world economy may slow, according to Bloomberg.

“The situation that we are experiencing at the moment is naturally a bit shocking,” Rupert Stadler, CEO of Audi, said in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland. “But we are confident that we will increase our sales this year.”

Stadler is targeting sales of 1 million vehicles for the first time this year, a 3.7-percent gain over 2007's record. The CEO said Jan. 13 that Audi will post record revenue and profit for 2007. It reports results in March.

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