HAMBURG - Volkswagen Group has raised its global sales target for 1999 by 10 percent.
VW now expects to sell five million cars in 1999, according to company sources at the annual shareholders' meeting here.
The previous internal target was 4.5 million, the sources said.
The group sold about four million Volkswagen, Audi, Seat and Skoda models worldwide last year.
The new target is included in a revised five-year strategic plan prepared by VW top managers. Volkswagen's supervisory board is scheduled to formally approve the new five-year outlook - called 'Plan 46' - this autumn.
Volkswagen Chairman Ferdinand Piech told shareholders that group sales in the first five months of 1997 rose 9.2 percent to 1.8 million. He added that VW's four brands will launch 17 models or variations in the next 16 months, including special versions like convertibles and station wagons.