POAHY Porsche Automobile Holding SE (PK)

By William Boston

WOLFSBURG, Germany--Volkswagen AG, struggling to shoulder the costs of its emissions-cheating scandal, on Tuesday forecast higher sales and earnings in 2017 as it provided details on its return to profit last year following its worst-ever loss in the wake of the diesel crisis.

The German car maker faces a tough challenge to convince investors that it is putting the diesel crisis behind it and is on track to deliver strong earnings in the years ahead after racking up more than $25 billion in fines, penalties and compensation in the U.S. to settle criminal and civil litigation related to the diesel scandal.

The company previously reported net profit of 5.14 billion euros ($5.48 billion) in 2016, after a record loss of EUR1.6 billion the year before. Volkswagen generated revenue of EUR217.3 billion last year, an increase of nearly 2%. The company sold 10.4 million vehicles in 2016, overtaking Toyota Motor Corp. as the world's largest auto maker by sales.

Looking to the new year, Volkswagen forecast a 4% increase in sales revenue, moderately higher vehicle sales, and a pretax return on sales of between 6% and 7%.

Write to William Boston at William.Boston@wsj.com

(END) Dow Jones Newswires

March 14, 2017 05:50 ET (09:50 GMT)

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