India becomes 4th largest global market for Kia Motors
What's the story
India has emerged as the fourth largest market for Kia Motors, accounting for 10% of the automaker's worldwide sales.
Tae-Jin Park, the managing director of Kia India, disclosed that the country is now among the top five markets for the brand, following South Korea, the United States (US), and Europe, per ET Auto.
The carmaker's portfolio on our shores consists of the refreshed Sonet and Seltos, along with Carens and EV6.
Growth
Kia targets 10% growth, bringing premium brands to India
Kia Motors has set a goal of at least 10% growth for next year, with a focus on introducing premium brands to the Indian market.
The company also plans to "completely refresh" its existing lineup.
As for sales of Kia vehicles, Park shared that South Korea leads with about 750,000 units, followed by the US at around 650,000 units, and Europe at 550,000 units.
India is in fourth place with approximately 300,000 unit sales.
Details
On manual transmission reintroduction, alternate powertrains
Moreover, in 2023, Kia Motors plans to bring back manual transmission options.
Park acknowledged that while intelligent manual transmission (iMT) technology is innovative, it hasn't quite been embraced by consumers.
Regarding alternative powertrains, he mentioned that electric vehicles and hybrids could be the carmaker's secondary focus.
Depending on market demand, the company might even explore CNG options.
However, Park noted it would take up to two years to introduce hybrid models. He was speaking during the 2024 Sonet's unveiling event.