Kia plans to increase output by one lakh vehicles and establish one hundred retail locations

<p>In an ambitious business strategy to combat the market’s intensifying rivalry, Korean automaker Kia plans to expand its product line, sales network, and manufacturing capabilities inside the nation in the next year.<br />
In order to adequately meet local market demand, the manufacturer also intends to reduce exports from the nation.</p>
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<p>“Our business strategy is rather ambitious for the next year. On the occasion of the worldwide debut of the most recent iteration of Kia India’s small SUV Sonet, Tae-Jin Park, Managing Director, and Chief Executive Officer, said, “We are looking to add 100 more sales outlets and enhance installed production capacity by 1 lakh units.”</p>
<p>At now, Kia’s manufacturing factory located in Andhra Pradesh can produce 3.4 lakh units annually. In the nation, it also has 429 sales locations. Park said that a number of factors, including a scarcity of components, affected the company’s sales the previous year, but that the problems have now been fixed. Park also said that starting in 2024, Kia will reduce its exports from the nation.</p>
<p>He said that up to 10% of the total output will be sent abroad in the next year. Currently, 20% or more of Kia’s manufacturing is exported to international markets. In order to strengthen its sales network, Park said that the firm plans to target tier III and tier IV towns in addition to strengthening its position in some of the larger cities in the next year.</p>
<p>“We are looking at all these measures because we expect the domestic market to get more crowded and competitive next year,” Park said. Regarding the launch of new products, he said that the firm would launch the updated Carnival MPV in the nation the following year. When questioned about the company’s intentions for the nation’s electric car market, Park said that EV 9 would be introduced the following year.</p>
<p>According to Park, 40–45% of all sales in Seltos and Sonet are still made up of diesel trims. The new Sonet has over 25 safety measures, including ADAS, and is available with both gasoline and diesel powertrains.</p>