Volkswagen Q2 oper profit seen slightly higher

FRANKFURT, July 23 (Reuters) - Volkswagen (VOWG.DE), the world's fourth-largest carmaker, is expected to report a slight rise in second-quarter earnings on Wednesday and reaffirm its guidance for an unspecified improvement in results this year.

The company is expected to post its quarterly figures before 1000 GMT.

A Reuters poll of 20 analysts forecast operating profit to rise 4.4 percent on average to 1.81 billion euros in the quarter from its strong performance a year ago, putting it on track for an estimated 6.61 billion for the full year.

Its operating margin is seen at 6.3 percent, according to the poll.

Despite high oil prices, falling U.S. consumer confidence, and a strong euro, Volkswagen should stick to its target of a rise in vehicle sales, revenue and operating profit in 2008.

Volkswagen is due to launch the sixth generation of its flagship Golf late this year, and plans to roll out more than 20 new models by the end of the decade as it targets 8 million vehicles delivered in 2011.

As VW sets its sights on overtaking Toyota (7203.T) as the world's biggest and most profitable carmaker, large shareholder Porsche (PSHG_p.DE) is poised to raise its 31 percent voting stake to a controlling majority once all regulatory approval has been granted.

Earlier on Wednesday, French rival PSA (PEUP.PA) reported a first-half operating margin of 3.6 percent helped by cost cuts and maintained a target for 3.5 percent over the full year.

Italy's Fiat (FIA.MI) is also due to report on Wednesday, and Renault (RENA.PA) on Thursday. (Reporting by Christiaan Hetzner; editing by Sue Thomas)