Kia India’s Managing Director and CEO, Tae-Jin Park, recently confirmed in an interview that the brand aims to strengthen its SUV range to keep the development path alive in the domestic market for the next three to four years. In the past five years, Kia’s market share in the overall passenger vehicle segment has increased from 24% to 43%.
The company expects to contribute 50% to overall sales in the SUV segment in the coming years. They have plans to launch three completely new products, including a locally manufactured MPV next year. Furthermore, Park emphasized that there are no plans to enter the sedan segment as SUVs are considered the primary driver for growth.
According to Park, although the EV market in India will not replace ICE vehicles completely, it presents a significant opportunity for Kia and other industry players. The next two years are expected to witness a significant surge in the electric vehicle sector as more car manufacturers introduce new products in different price ranges.
Kia is working on establishing a strong foundation by building essential charging infrastructure to support the development of electric vehicles in India. Alongside the growing acceptance of EVs, they believe that IC engine vehicles will coexist with electric vehicles over the next ten to fifteen years.
Kia has experienced success with the EV6 electric crossover in India and plans to launch the flagship seven-seater EV9 and a locally manufactured EV version of their RV in 2025.
In early 2024, the facelifted Sonet will be introduced, and an updated fourth-generation Carnival is also scheduled for next year. In addition to the EV9, a locally manufactured electric RV is also in the pipeline. There are also indications of a compact, rugged-looking SUV codenamed AY, which is rumored to be available in both ICE and EV versions. Kia aims to bring this vehicle to the market soon.
Kia India is committed to the development of its SUV range and intends to strengthen its position in the Indian market. With three new launches planned, including electric vehicles, Kia anticipates a significant contribution to the country’s automotive industry in the coming years.
Summery:
– Kia is planning to strengthen its SUV range in the Indian market over the next three to four years.
– The SUV market share of Kia in the passenger vehicle segment has increased from 24% to 43% in the past five years.
– Kia aims to contribute 50% of the total sales in the coming years and considers SUVs as the main driver of growth.
– Kia believes that the Indian EV market will not completely replace ICE vehicles and expects a significant growth in electric vehicles in the next two years.
– Kia plans to launch three new products, including a locally manufactured compact SUV and an electric RV.
– The launch of the Sonet facelifted model is scheduled for 2024, along with an updated Carnival in the next year.
– Kia is also planning to introduce the EV9 flagship seven-seater SUV and an electric version of the locally manufactured RV.
