Kia Motors unveiled Wednesday its first luxury sedan, the K9, signaling fiercer competition in the nation’s soaring premium car market.
Kia held a launching event on the day at the Grand Hyatt Hotel in central Seoul, with some 1,200 VIP guests including Knowledge Economy Minister Hong Suk-woo and Hyundai-Kia Group chairman Chung Mong-koo in attendance.
Chairman Chung Mong-koo (second from left) and other business leaders pose with the K9, Kia Motors’ first luxury premium sedan, at a launch ceremony in Seoul on Wednesday.(Park Hyun-koo/The Korea herald)
Following its previous hit K5 and K7 series sedans, launched in 2010 and 2009 respectively, the K9 is designed as a luxury sedan, the company said.
“The K9 has both sophisticated design and outstanding performance. We put in every state-of-the-art technology to best suit our customers’ safety and convenience,” Chung said during the event.
“The K9 has the world’s No. 1 technology and performance, and will play a leading role in further elevating Kia Motors’ brand value around the world.”
The latest product of Kia’s evolving design approach features its signature radiator grille, bold “high-tech luxury car” style LED headlamps and classic design echoes in its voluminous hood.
A company spokesman said that the K9 is Kia Motors’ first rear-wheel drive sedan: “It boasts our ‘best of best’ design.” The K9 comes in six colors for the exterior and two colors for the interior.
Its price tags revealed on the day also indicate the company’s ambitious goal of competing directly with European car makers as well as Hyundai’s two premium models ― the Genesis and Equus.
Depending on specifications, the price ranges from 52.9 million won ($47,000) for the “prestige class,” to 86.4 million won for the “president class,” priced about 10 million won higher than Hyundai’s hit sedan Genesis.
Kia Motors sold 232,520 cars in April, and its operating profit reached 1.12 trillion won during the first quarter of 2012, up 33.4 percent over the same period last year, the carmaker said.
By Chung Joo-won (joowonc@heraldcorp.com)