Volkswagen reportedly now expects group revenue to exceed 2016's record EUR217bn by more than 25% by 2020, up from a March forecast of more than 20%.
"We have a slightly more positive outlook now than in the spring," group sales chief Fred Kappler told analysts on a call, Reuters reported.
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Finance chief Frank Witter cautioned increased spending on electric cars and ongoing investment in combustion engines required by stricter emissions rules had kept operating profit guidance broadly unchanged.
The automaker said group operating profit (EBIT) could rise by at least 25% by 2020 from EUR7.1bn in 2016. In March, VW had expected group EBIT to exceed 2016 levels by 25%.
"Cost discipline, productivity improvements and execution of one time product launches are certainly vital to reach our goals, Witter said, according to the news agency.
VW last Friday outlined plans to spend over EUR34bn to the end of 2022 on electric cars, autonomous driving and new mobility services.
Group pretax profit is now seen growing by at least 30% due to an expected contribution of EUR3-EUR3.5bn from Chinese joint ventures. The company had forecast a rise of at least 25% in March, Reuters noted.
