Left Menu
Development News Edition

Kia plans to launch 6 models within 3 years to boost business in Indian market


South Korean auto major Kia Motors will launch one model every six months once it starts selling vehicles in India from mid-2019 but is not considering the high-volume compact cars segment, a top company official said Tuesday.

The company, which has set a target to be among top five players in three years in India, is looking to position itself as a premium brand in the mass segment.

"Yes, we are considering six models in three years, which is one model every six months," Kia Motors India CEO and Managing Director Kookhyun Shim told PTI here.

The company, however, is not considering the compact cars segment which accounts for about 70 per cent of the total Indian passenger vehicles (PV) segment that stood at around 3.3 million units in 2017-18.

Currently, the Indian PV market is dominated by Maruti Suzuki India followed by Hyundai, Mahindra & Mahindra, Tata Motors and Honda.

"We want to position ourselves as a premium brand. At the moment there is no plan for compact cars in India," he said.

When asked how confident is the company of becoming a top-five player in India while being absent from the compact segment, he said,"Kia has lot of experience in the global market with presence in 180 countries. Our target is based on our experience and not just a dream target."

Shim further said,"We think it is very feasible. So, at the moment the compact car is not on our line-up. However, whenever we think we need some volume support we can put the compact car in our line up."

From the middle of 2019, Kia will start selling its will start with SUV, SP Concept that was showcased at the Auto Expo this year.

"We are developing out first product, SP Concept, based on Indian customers' aspirational needs, as well as engineering and design. We are bullish about the success of this car," he said.

Asked if Kia would continue to develop such India specific products in future too, Shim said, "We will. We find that the Indian market is very diverse and each segment there will be different needs. We are looking at the market segment wise and serve all the customer needs. We are monitoring the market."

Kia is investing USD 1.1 billion to set up its plant in Andhra Pradesh which will have an annual capacity of three lakh units. It will employ around 3,000 persons when fully operational.

(With inputs from agencies.)


TRENDING

OPINION/BLOG/INTERVIEW

Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

How to avoid fake universities and fishing bait like Farmington

As education sharks are roaming around to prey, we present a guide on how to mitigate hunters and reach to a genuine universityinstitute. In this era of commercialization of education, the fake universities and economic frauds in educationa...

Videos

Latest News

REUTERS NEWS SCHEDULE AT 6 a.m. ET/11 a.m. GMT

The U.S. military believes that an unarmed American drone reported lost near Libyas capital last month was in fact shot down by Russian air defenses and it is demanding the return of the aircrafts wreckage, U.S. Africa Command says.SOUTHKOR...

UPDATE 1-Soccer-Qatar's Education City Stadium not to host Club World Cup games - FIFA

Qatars Education City Stadium will not host matches during the FIFA Club World Cup this month after the official opening of the venue was postponed until early 2020, soccers world governing body said on Saturday.FIFA said the construction o...

Nirbhaya gang-rape convict Vinay Sharma seeks withdrawal of mercy petition, claims he never signed it

Vinay Sharma, one of the convicts in the Nirbhaya gang-rape case, has moved a plea to President of India Ram Nath Kovind, seeking immediate withdrawal of his mercy petition, claiming that he did not sign the document. According to the lette...

No let-up in French strikes as fresh turmoil hits weekend

The most serious nationwide strike to hit France in years caused new weekend travel turmoil on Saturday, with unions warning the walkouts would last well into next week. The challenge thrown to President Emmanuel Macron over his plans for r...

Give Feedback