Audi to take No.1 premium car spot by 2020, CEO says

FRANKFURT, July 7 Sat Jul 7, 2012 7:48pm IST

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FRANKFURT, July 7 (Reuters) - Volkswagen AG unit Audi AG aims to become the world's largest maker of premium cars no later than 2020, Audi Chief Executive Rupert Stadler was quoted telling Sueddeutsche Zeitung in an interview published on Saturday.

Asked when Audi expected to become the number one and overtake BMW as the world's largest luxury carmaker, Stadler was quoted saying: "By 2020 at the latest. It is not about overtaking BMW tomorrow or the day after, but to seize and secure the top position."

Stadler had previously set a goal of making Audi the world's top premium car maker by 2015.

He also said the company would present "very good numbers" for the first half of the year, which the company is scheduled to release on July 31. "But we, too, feel that the road is getting bumpier," he cautioned.

Stadler said reduced working hours were not being considered at the company's plants for the time being.

Earlier this week, Daimler AG said sales of Mercedes-Benz luxury cars grew in June at the slowest monthly rate so far this year, as sales in the key market of China continued to increase at a tepid rate. (Reporting by Christoph Steitz; Editing by David Holmes)

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