UPDATE 1-Audi signals set to exceed mid-term margin target

Newswire

BERLIN, June 22 (Reuters) - Volkswagen's Audi unit signalled it will overtake its mid-term margin target and is set to sell more than 1 million cars this year as the premium automaker rides a wave of growth in China. Audi's finance chief, Axel Strotbek, forecast earnings would grow faster than revenue this year and said the medium-term target of achieving a pretax profit margin higher than 8 percent was the "minimum". "Naturally we are aiming for more. Eight percent is the minimum target ...

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