* Says cut internal forecast due to weak western Europe
* Paper reported VW cut forecast 300,000 to 9.4 mln
* VW says figures in report have no basis
* Shares up 0.9 percent
FRANKFURT, Sept 7 German carmaker Volkswagen
has cut its internal 2012 sales target slightly and
by less than the 300,000 vehicles cited in a German newspaper,
because of tough markets in Europe.
"Due to the continued tense market situation in western
Europe, we have made slight adjustments but not nearly to the
extent that is being speculated about at the moment," a
spokesman for Europe's largest carmaker said on Friday.
German daily Handelsblatt reported that VW, which has not
published a full-year sales target, had cut its expectations for
full-year sales by 300,000 vehicles to 9.4 million globally.
The paper cited company sources as saying VW cut its
expectation for sales in Europe by 250,000 vehicles.
"The figures reported by Handelsblatt have no basis," the VW
Volkswagen, on course to overtake U.S. rival General Motors
this year as the world No.2, aims to sell a world-leading
10 million vehicles by 2018, up from the 8.36 million recorded
last year, and push past Japanese group Toyota.
Silvia Quandt analyst Albrecht Denninghoff said if the 9.4
million target reported by Handelsblatt were true, it would
imply 12 percent growth and leave VW well on its way to the 10
million target. "We do not think that investors should be scared
by such a small growth deceleration," he said.
VW said last month group deliveries rose 9.1 percent in the
first eight months to 5.19 million, adding that the economic
situation in Western Europe was still tense.
On Sunday, VW had denied a German magazine report it was
bracing for a slump in the economy and had told suppliers it may
cut production by 10 percent in the European autumn.
VW suffered a second-quarter slowdown in underlying profit
growth, partly because Europe's deepening debt crisis weighed on
VW shares were up 0.9 percent at 1055 GMT, with a European
auto index up 1.2 percent.