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Kia India on Tuesday said its sales in the second half of the calendar year would be higher compared to the first half, and it is looking for a 10 per cent market share by next year from around 7 per cent now, as part of Kia 2.0 strategy.
The South Korean subsidiary company said it will launch three new models by 2025 – all in sports utility vehicle (SUV) form – one small SUV with internal combustion engine (ICE) and two electric vehicles (EVs).
The company recorded sales of 1,36,108 units in India between January and June, after the US (4,15,708 units) and Europe (318,753 units). Kia India recorded a growth of over 44 per cent in FY23 with sales of 2,69,229 units.
Globally, Kia posted total sales of 15,75,920 units, recording its highest-ever first half sales results, which an 11 per cent increase compared to the same period last year. Kia’s previous best first half sales performance was in 2014, when a total of 15,46,850 units were sold worldwide (before entering into the Indian market).
High potential
“The Indian market is a very high potential market and as the number third (largest automotive market in the world)...the current model lineup is not enough to maintain our market share. That is why we are thinking about new products for this market that could be happen in 2025 with some ICE and some EV models which are locally produced,” Tae-Jin Park, Managing Director and Chief Executive Officer, Kia India, said.
Speaking on the sidelines of unveiling of the upgraded version of Seltos, he said the company would also have a better growth this year, by around eight per cent, compared to an expected growth of around six per cent for the whole passenger vehicle market in the country. Kia India will open the bookings for the new Seltos, which would be available in 18 trims, on July 14 and commence sales from July 25.
In order to cater to the growing demand, the company is also enhancing its production capacity to 3.5 lakh units per annum this year, which could go up to 4.3 lakh units a year in the future, he said.
On asked about demand for diesel vehicles, which is shrinking in India, Park said Kia would continue to sell diesel vehicles as there is still a demand. He also added that if the emission norms get stricter then the company may consider hybrid and other technologies.
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