Kia Motors, South Korea’s second-largest carmaker, is set to drive into the fast-growing Indian car market and build a manufacturing facility here, a person with direct knowledge of the development said.
The company, partly owned by South Korea’s largest carmaker Hyundai Motors, will bring in compact cars, hatchbacks and entry-level sedans initially and will expand into compact sports utility vehicles later, said the person requesting anonymity.
Kia, known for its sleek but aggressively priced vehicles, is shifting its focus to Asia from its largest market Europe where demand is shrinking. “It is hunting for alternate markets after the 2008 financial meltdown,” the person said.
When contacted, a Kia spokesman said the company was in very early stages of conducting a feasibility study into the possible entry into India. “We are still a long way from making any decision,” he said.
The first person quoted, however, said Kia may launch its popular hatchbacks Picanto
, besides its top-selling sedans Forte
The sedans will be pitted against the segment leader Honda City while the small cars could be competing with Maruti Ritz and Hyundai i10.
Kia will also roll out compact SUVs Soul
that would compete with the likes of Mahindra Scorpio and Maruti Suzuki’s Grand Vitara, said the person.
Source - Kia Motors set to roll out compact cars, hatchbacks, entry-level sedans on Indian roads-Automobiles-Auto-News By Industry-News-The Economic Times