Audi says it will sell more than 1 million cars this year on the back of strong growth in China.

Audi’s finance chief, Axel Strotbek, forecast earnings would grow faster than revenue this year and said the medium-term target of achieving a pretax profit margin higher than a previously projected 8% should be exceeded.

He said: “Eight percent is the minimum target that we have given for the mid-term and 18% return on investment may be conservative compared to the competition but we not only fulfil what we promise but exceed it.”

He added: “It is a sport for us to surpass our externally communicated targets.”