VW Keeps Outlook, Ups Sales Target After Earnings

Volkswagen stuck to its guidance for operating profit after posting record earnings last year on double-digit gains in sales of luxury Audi and Porsche models.

Europe's largest carmaker said on Friday the group operating margin could come in a range between 5.5 percent and 6.5 percent, same as last year's projection.

Operating profit rose 8.8 percent to 12.7 billion euros ($14.25 billion), up from 11.67 billion in 2013 and slightly above analyst projections of 12.6 billion euros.

The German group raised its forecast for revenue, saying it could exceed last year's record 202.5 billion euros by as much as 4 percent.

(Reporting by Andreas Cremer; Editing by Maria Sheahan)