FRANKFURT -- The luxury Audi unit of Volkswagen said on Wednesday it planned to increase annual production to around one million vehicles in the medium to long term.
A spokesman for the company declined to comment on specific figures to appear in a report Germany's Capital magazine. According to the magazine, Audi plans to lift production to close to 1.1 million vehicles by 2008, a roughly 42 percent rise from current levels, boosted by 12 new models.
"We do have plans for growth which run to about one million units, but there is no set time frame," said an Audi spokesman.
Audi, which accounted for about one-third of VW profits in 2002, sold 767,000 vehicles last year and has forecast record sales for 2004, helped by the new A3 hatchback and an updated A6.
Audi has already said it plans to more than double sales in the United States by about 2007 or 2008. Audi's mother company VW is under pressure amid signs that its new Golf car, on which investors were pinning hopes for recovery after a profit slump in 2003, is succumbing to pricing pressure and slow sales.