Business
Kia vows to maintain share in local market
Published : Jan 8, 2012 - 15:49
Updated : Jan 8, 2012 - 15:49
Kia Motors Corp. said it will maintain its 33 percent share in the domestic car market this year in order to consolidate its position as the No. 2 player here.

The company set its 2012 target on the back of releases of new vehicles and steady sales of popular models.

Last year, Kia Motors sold 493,003 vehicles in the South Korean market for a 33.6 percent share, fueled by the popularity of new models such as the Morning and Pride, and growing demand for mid-size cars like the K5.

“Despite fierce competition, Kia Motors has achieved surprising results thanks to sales of steady-selling vehicles and outstanding new models,” CEO Lee Sam-ung said at a New Year’s meeting with company officials on Friday.

“I believe that we can make a new record again through communication, confidence and passion in the new year.”

In order to achieve the goal, Kia Motor said it will carry out aggressive marketing of popular cars such as the K series models, the Morning and Ray. A new large sedan, code named the KH, will also be unveiled in mid-2012, said the carmaker.

Last year, total sales of Kia Motors rose 19.2 percent on year to 2.53 million vehicles, with its exports soaring 24.3 percent to 2.04 million units.

Hyundai Motor Group, the parent company of Kia Motors, took up a whopping 80 percent of South Korea’s domestic car market last year by selling a combined 1.17 million vehicles. (Yonhap News)
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