June 23, 2011 / 11:00 AM / 8 years ago

VW's Audi aims to sell 2 mln cars/yr by 2020-source

HAMBURG, June 23 (Reuters) - Volkswagen’s (VOWG_p.DE) premium car brand Audi aims to nearly double its car sales by 2020, a person familiar with the company’s strategy told Reuters on Thursday.

According to the source, Audi aims to sell 2 million cars annually by 2020.

German publication manager magazin had reported the objective earlier, citing a strategy paper that Audi head Rupert Stadler aims to show to some employees next week. The report also said the company aimed for an average operating margin of 8-10 percent.

Audi declined to comment.

Last year Audi sold 1.1 million cars and the company targets annual vehicle sales of 1.5 million by 2015. Audi’s first-quarter operating margin reached 10.6 percent and the company expects its 2011 margin to be at last year’s level of 9.4 percent. (Reporting by Jan Schwartz; Editing by David Holmes)

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