Kia aims to capture 10% market share with their upcoming cars giving a boost in sales
Kia India reveals plans of their upcoming cars that will be launched next year to boost their market share. The Managing Director and CEO shares his thoughts on their new strategy and the scope of electric vehicles in our country.
India is the 6th largest car market for Kia, which contributes to 8-9 percent of the global sales. They are currently having a market share of 7 percent which they intend to increase to 10 percent in the near future, roughly 5,00,000 units. They plan to achieve this by introducing new products in the market and expand their touch points to over 600 by 2028.
They believe SUVs and MPVs have emerged as the fastest growing segments in the country and these body types have captured a relatively larger customer base. Kia will be focusing on this segment only and has confirmed that they won’t launch any sedans in India.
They expect significant growth in the electric vehicle segment in India by 2025. However, Kia India believes that internal combustion engine vehicles and electric vehicles will coexist in our country for another 10-15 years. The South Korean carmaker is working on improving the charging infrastructure across the country to boost the transition from ICE to EV.
The three new products expected by next year include Kia Sonet facelift, Kia Carnival and Kia EV9. The new Sonet will get significant visual changes on the exterior following the new design direction. It will get new features as well and help boost the sales of the company. The much awaited new generation Carnival will be launched in India in its facelifted avatar that was revealed recently in the international market. It will be assembled locally in India via CKD.