(Adds VW comment, clarifies remarks, adds shares)
FRANKFURT, June 26 (Reuters) - Europe's biggest carmaker, Volkswagen AG , expects to sell more cars in 2004 but record sales would require the support of a better auto market, a VW management board member was quoted as saying on Thursday.
"We will be able to improve in 2004. But we will only be able to achieve a record year with the support of a better market," VW Chief Financial Officer-designate Hans-Dieter Poetsch was quoted as saying by business newspaper Handelsblatt.
A Volkswagen spokesman said the comment referred only to unit sales, noting that the company had made no detailed profit forecast for 2004.
VW stock, which has underperformed peers on the DJ European auto stocks index by close to six percent since the start of the year, was down one percent at 33.89 euros by 0733 GMT, broadly in line with its sector.
VW unit sales peaked at 5.16 million cars in 2000. Since then its sales have been slipping as its most popular models age, dropping to just under five million last year.
It is hoping that an updated version due later this year of the Golf, the backbone of its success over the past three decades, its recently-launched Touran minivan and Touareg off-roader will push sales back above five million this year.
Some analysts have warned in recent months that investors seemed to be overestimating the likely earnings improvement in 2004 on the back of the new Golf V.
VW has said that 2003 operating earnings will not match 2002's profit of 4.761 billion euros but Chief Executive Bernd Pischetsrieder said in March he expected cost-cutting and the new models to "reverse the picture" in 2004.