Volkswagen, the world’s largest automaker, will sell about 3.4 million vehicles, or about 3% of its total U.S. sales, in 2018, the company said on Thursday.
That’s a significant reduction from the company’s previous estimate of 2.9 million sales, the Wall Street Journal reported.
VW will also continue to focus on electrification and sustainability, according to a statement from its CEO, Martin Winterkorn.
VW plans to sell up to 2.3 million electric vehicles and to sell as many as 5 million of the new diesel-powered VW Golf, which will have a range of 155 miles.
In its statement, VW said that “the future is bright for our customers and for the world.”
The company said that it expects to generate $2.6 billion in cash for 2019, up from $1.9 billion in 2018.
Volkswagen is still expected to record a loss of about $1 billion this year, according the WSJ.
The company also said that sales of diesel vehicles in the U.K. and Germany will increase by more than 10% this year.
VW sold almost 1.4 billion vehicles in Europe last year, up 7.6% from 2015.
VW is also considering selling up to 1.9 percent of its global portfolio of brands and operations to China’s state-owned firm, according Reuters.