Continental says 2012 sales may grow over 5 percent

HANOVER: German auto parts and tyre maker Continental AG said sales may increase more than 5 percent this year to more than 32 billion euros ($42.81 billion) as global car markets may keep growing on demand from Asia and North America.

The Hanover-based company is "cautiously optimistic" on business prospects in 2012 after reporting record sales and operating profit in 2011.

First-quarter sales may "slightly" exceed the 7.912 billion euros achieved in last year's final quarter, Chief Executive Officer Elmar Degenhart said on Thursday in a statement.