According to a top corporate official, Kia Corporation, a worldwide vehicle manufacturer that joined the Indian market in July 2019, is now trying to strengthen its product line as it prepares to launch a new model in the country in the first quarter of next year.
On December 16, Kia Corporation plans to reveal its fourth model (codenamed KY) globally! The actual market launch will occur later in the January-March quarter.
“India is a very important market for Kia globally, not only sales volume-wise, but it also has the potential to be a production and global research and development hub,”
Kia India MD and CEO Tae-Jin Park told reporters in an event here.
Kia’s New Model
Kia made a grand debut in India by launching the first Kia car in India, i.e. Kia Seltos SUV. Seltos caters to a wide spectrum of customers and gradually it emerged as the bestselling SUV in the country.
The Sonet has also made a name for itself in India’s burgeoning compact SUV segment, while the Seltos, Kia’s first model was the country’s second best-selling SUV in 2020.
Also Kia India MD and CEO Tae-Jin said the business has already had a positive reaction in the nation for Seltos, Sonet, and Carnival.
“We are happy to announce that Kia India will introduce its new product ‘KY’ in Q1 of 2022. With KY, we will be kick-starting our next India growth phase to consolidate our business and operations,” Park noted.
Kia India MD and CEO Tae-Jin Park
The Big Family Vehicle
Kia India MD and CEO Tae-Jin Park noted that the new model would combine the spaciousness of a large family vehicle and the assertiveness of an SUV.
“We will focus to address the unmet need for an innovative, inspiring experience in family commuting with KY. Simply put, we don’t just intend to launch a 6-7 seater but we want to create a new segment that does not exist. KY is going to be a game-changer in the segment,”
Kia India MD and CEO Tae-Jin Park
Kia’s WholeSales Has Been Declined!
Few days back, Kia India reported that its wholesales fell 22.67 per cent to 14,441 units last month, compared to the same month the previous year.
In September 2020, the company had dispatched a total of 18,676 units. Last month, the company sold 4,454 Sonet units, 9,583 Seltos units, and 404 Carnival units to dealers.
The major reason is the supply chain disruption!
Covid-19 had left economies and businesses stranded. Not only the Automotive industry but almost all the sectors have seen a downfall.
Kia India Vice President and Head of Sales and Marketing Hardeep Singh Brar said in a statement that the disruption has put a brake on the improving industry sentiment last month.