Kia bets big on UV segment in India

0
South Korean automaker Kia is focusing on the utility vehicle segment in the Indian market as it remains bullish on the long-term growth potential of the vertical in the country, according to a senior company official.

The automaker, which sells products like Seltos, Sonet and Carens in the market, also plans to keep on offering diesel trims on its models with demand remaining robust for such variants in the fast-growing sports utility vehicle (SUV) segment.

Buoyed by its presence in the utility vehicle segment, the company expects its sales to grow by around 10% this year. It sold 2,54,556 units in 2022.

“Our focus firmly remains on multi-purpose vehicles and sports utility vehicles,” Kia India National Head- Sales and Marketing Hardeep Singh Brar told PTI in an interaction. The company remains bullish on the SUV and MPV segments and does not have any plans to introduce sedans in the market, he noted. Brar noted that the contribution of the SUV segment in the overall passenger vehicle sales has gone up to 43% in 2022 from 24%in 2018. The multi-purpose vehicle segment’s contribution has also grown from 5% in 2018 to 9% in 2022, he noted. -PTI

Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here!

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Automobiles News Click Here 

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave a comment