BMW is looking to expand its vehicle lineup and shift company focus from volume sales to improved prices and margins, said the automaker's chief executive.

"We've been at the head of the premium segment for more than 10 years now. In terms of volume, we're actually in the middle of thinking this through," BMW CEO Norbert Reithofer told the magazine Automobilwoche, as reported by Reuters.

BMW Group has purposely shrunk its number of cars sold in Germany by several thousand in the past year.

In the recent interview, Reithofer predicted that BMW would keep its standing as the lead maker of luxury vehicles for at least the next two years, boosted by a planned expansion of the company's lineup.

"Given the large number of new models that we're taking to market, I'm more than confident," he told the magazine.

Analysts seem to approve of the shift, with experts at ISI Group saying that German luxury carmakers have emphasized volume growth to the detriment of their ability to persuade buyers to purchase pricier vehicles.

"We very much appreciate the fact that BMW is stepping ahead to stop chasing volumes at any price," wrote ISI head of automotive research Arndt Ellinghorst in a note to clients, as reported by Reuters.

According to Ellinghorst, BMW will likely improve its margins from 9.5 percent in the first quarter of the year to 9.6 percent for all of this year and then 10 percent in 2015, Reuters reported.

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