Volkswagen's 2010 outlook brightens

[June 16, 2010]  BERLIN (AP) -- Automaker Volkswagen AG has raised its sales and operating profit forecast for 2010 after its performance in the first five months exceeded expectations.

The company said Wednesday that it now expects the 2009 figures "will be significantly exceeded" but didn't offer more specific guidance. It had previously forecast only that the 2010 figures would be above last year's.

Volkswagen said it has been helped by strong demand in key markets such as western Europe, China and North America.

It also said exchange rate effects "had a positive impact on profit." The euro has weakened this year.

Volkswagen cautioned that the outlook for the second half "still entails uncertainties" -- pointing to fierce competition and a difficult overall environment.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.