According to a Reuters report, Volkswagen said on Saturday that it expected to sell over 7,800 of its super luxury Phaeton model this year. However, the report also said that the company denied that it has slashed sales targets for the model.

Reuters said that a spokesman for VW denied that the company had originally planned to sell between 12,000 and 14,000 of the luxury saloons this year, as reported by Germany’s Spiegel magazine in an article to be published on Monday (Feb 10).

“I don’t know anything about this figure,” VW spokesman Dirk Grosse-Leege told Reuters, adding that the company expected to sell around 7,860 Phaetons this year.

“At the moment we are fully engaged in the introductory phase. We have always said we aimed to sell 20,000 Phaetons a year once it is introduced to all markets and all model variants are available.”

The Dresden facility where the car is made has an annual capacity of around 35,000 units.

The model has been controversial, taking the Volkswagen brand into the high-end of the luxury market where it will compete with its group sibling Audi. The Phaeton’s development also resulted in delays to the Audi A8 renewal programme.