November 20, 2017 / 11:23 AM / a year ago

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

BERLIN, Nov 20 (Reuters) - Volkswagen 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 ($255.69 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. ($1 = 0.8487 euros) (Reporting by Andreas Cremer; Editing by Arno Schuetze)

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