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Volkswagen offers cautious outlook for 2018

Volkswagen AG said it expects sales revenue to rise by 5% and projects operating profit could climb by as much as 7.5%, but warned that all automakers must deal with a difficult environment, Bloomberg News reported.

"We, like the entire industry, are facing major challenges and radical change," Volkswagen CEO Matthias Mueller said in a statement.

Volkswagen cited a number of risks carmakers must confront, including the move to electric models, exchange rate fluctuations and stricter emissions regulations.

In addition, the company said it "expects the pace of global economic growth to slow slightly in 2018 and trends in the passenger car markets in the individual regions to be mixed in 2018."