FILE PHOTO: BMW CEO Harald Krueger speaks during the Frankfurt Motor Show (IAA) in Frankfurt, Germany September 12, 2017. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - BMW BMWG.DE aims to overtake rival Mercedes-Benz in terms of annual deliveries within two years, Chief Executive Harald Krueger told German monthly Manager Magazin.

“In 2020 we will be the No.1 in terms of unit sales again. I am holding my team to that target, even if it won’t be a walk in the park,” the magazine quoted Krueger as saying in an interview published on Thursday.

BMW slipped behind Mercedes in 2016, after holding onto the global luxury sales crown for about a decade.

It reported record sales in 2017 on strong demand for its sport-utility vehicles and the overhauled 1-Series compact but was still outsold by Mercedes, owned by Daimler DAIGn.DE.