Kia Motors, South Korea’s second-largest carmaker, is set to drive into the Indian car market.
Kia Motors which is owned by Hyundai plans to build a manufacturing facility in Indian. Kia Motors will bring in compact cars, hatchbacks and entry-level sedans initially and will expand into compact sports utility vehicles.
Kia cars are known for its sleek and sporty looking cars. Kia’s portfolio consists of cars like Picanto, Soul, Cerato, Rio, Cee’d, Magentis, SUV’s like Sportage, Sorento, Venga.
Kia had earlier attempted to enter India four years ago but eventually abandoned the plan due to sluggish growth in the Indian market during that period.
Now the company has engaged an international consultancy to conduct product clinics to test its cars for the Indian market besides a feasible study of a market launch.
The plan to re-look at India is also prompted by the success of Hyundai, whose twin-factories in Chennai makes it the largest Indian car exporter and the second largest carmaker in the country.
The move will also help Hyundai Kia Automotive Group to gain volumes in world’s second-fastest growing auto market. The group is the world’s fourth-largest carmaker behind Toyota, General Motors and Volkswagen.
Kia’s entry will also allow Hyundai to bridge the gap with market leader Maruti Suzuki in terms of combined sales volume.
Source: ET
