Source AP ©

Audi aiming for 950,000 cars sold this year

Audi AG hopes to sell 950,000 cars this year, a new record, and also hopes to beat last year's net profit, it said Tuesday.

Speaking at the Frankfurt auto show, Audi Chief Executive Rupert Stadler said the company, was on target to reach its sales aim - up from a previous record of 905,188 vehicles sold last year.

"With a target of 950,000 vehicles, we assume that we will outperform the previous year in terms of earnings and yields," Stadler said.

He also said the Ingolstadt-based maker of the popular A4, among other models, plans to introduce a hybrid version of its Q7, but did not say when.

As for any plans to build a U.S. factory to take advantage of the weaker dollar and hedge its exposure to currency fluctuations, he said that the company has not "included a U.S. factory in the current planning scenario," but said that would be a logical step because it would be of long-term strategic significance.

From January to June, the company's sales rose 12.4 percent to EUR17.4 billion (US$24 billion). Net income rose to EUR679 million (US$936.7 million) in the period.

Shares of Audi gained nearly a quarter of a percent to EUR539.80 (US$744.65) in Frankfurt trading.