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Posted by: Anthony Lim

Volkswagen raised its sales and operating profit forecast for 2010 on Wed, saying that its performance in the first five months exceeded expectations.

The company said 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.

VW sold 6.3mil vehicles and had an operating profit of euro 1.9bil last year.

Unit sales and operating profit across the group - which also includes brands such as Audi, Skoda and Seat - "have considerably outperformed expectations in the first five months" of 2010, Volkswagen said.

It said it has been helped by strong demand in key markets such as western Europe, China and North America. Exchange rate effects "had a positive impact on profit," it added.

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