The head of German auto parts manufacturer Continental AG (CON.XE) reaffirmed the company's optimistic profit forecasts in an interview published Sunday, stressing that fears of a car market downturn shouldn't be exaggerated.

"Continental remains on track to achieve record results," both in 2012 and 2013, the company's chief executive Elmar Degenhart tells German newspaper Frankfurter Allgemeine Sonntagszeitung.

In early August, the company raised its forecasts for revenue and profitability this year after a decline in raw-material costs and growth in sales helped lift its second-quarter profit.

"We are sensitive to signals from the market, but we see no reason for an emergency stop," Mr. Degenhart says, adding that it wouldn't be necessary to shorten working hours.

"One shouldn't exaggerate the unquestionably present risks," Mr. Degenhart added.

Newspaper web site: www.faz.net

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