Buoyed by good sales growth last year, German luxury car maker Audi is expecting India to become one of its top ten global markets by 2014-15.
The company which sold 9,003 units in India in 2012 is aiming to sell around 10,500-10,800 units this year at a growth rate of about 20 per cent.
"India is currently among the top ten strategic markets globally for Audi, although in terms of volumes, it is not there. We expect the country to be among the top ten globally in terms of sales for Audi by 2014-15," Audi India Head Michael Perschke told PTI.
He said the country could move up to 6th or 7th position by 2020 from its current rank of 22.
Elaborating the company's plans for the year ahead, Perschke said Audi will bring about five new products in India, including a new R8 and S6.
Already, it has launched the new Q5, for which the company has received 250 bookings.
"Overall for 2013, we are targeting a total sales of around 10,500 to 10,800 units at a growth of about 20 per cent. Out of these, we expect our SUVs under the Q range to account for about 40 per cent of the sales," Perschke added.
When asked about the company's future investments in India, he said the company completed its five year plan last year, during which it invested 30 million euros.
"The Audi board is now considering the plans for the next five year. The board is very bullish on India and its long term potential. By the middle of this year we may finalise details for the next five years," Perschke said.
He, however, declined to comment on whether the investments in the next five years will be more than the 30 million euros that the company had so far put in India.
Audi had last year completed the expansion of a third assembly line at the plant of VW group firm Skoda's Aurangabad plant. The line will be used for assembly of the Q7 SUV and another model, he added.
"For the short to medium term of 2013 and 2014, we will have adequate assembly capacity but beyond that we will need more keeping in mind our growth target," Perschke said.
Audi currently assembles its sedans A4 and A6 along with SUVs Q5 and Q7 at the Aurangabad plant. It also plans to assemble Q3 in India by the second quarter of this year. Its overall capacity is slated at 12,000 cars a year.
In terms of dealership network expansion, he said the company will have a total of about 32 to 34 outlets by the end of the year, up from 25 in 2012.