Thursday, July 9, 2020
Despite Challenges, Kia PH Confident of Maintaining Spot as Top 10 Best-Selling Car Brands
Behind every dark cloud, they say, lies a ray of hope. The current COVID-19 pandemic that has gripped the world during the past few months has taken its toll on the local economy. The fear of the virus, along with the lockdown, have caused general weakness of consumer confidence, as well as numerous businesses closing shop. This is further aggravated by the challenges facing two major contributors to the country’s economic performance, the Overseas Filipino Workers (OFW) and the Business Process Outsourcing (BPO) industry.
These, in turn, are seen to affect economic indicators such as Gross Domestic Product, which is estimated to slip to 0.6 percent from a projected 6.6 percent for 2020.
For the automotive industry, vehicle sales have declined by 52 percent year-on-year. Apart from the aforementioned factors, the cautious lending of bank institutions and dealerships challenged to generate volume along with the burden of fixed overhead costs, are seen to dampen the industry’s overall performance. Market recovery is not expected until November 2020 at the earliest, and even then, in the best-case scenario, Kia expects vehicle sales to hit 275,000 by the end of 2020—a 35 percent decrease from 2019.
As a brand, Kia’s sales have nosedived—50 percent down year-to-date. Regardless, they see themselves maintaining their Top 10 spot in terms of Philippine automotive sales thanks to what they refer to as “a few bright spots.”
As the country moves to the new normal way of life, Kia sees great potential in its Picanto and Soluto, especially those looking for affordable personal transport. Making car ownership easier during these challenging times, Kia through BPI Family Savings Bank has brought down the Picanto and Soluto’s downpayment to as little as P 1,000 and P 16,000 respectively. Would-be owners could also opt for low monthly offers—P 12,115 for the Picanto and P 13,655 for the Soluto.
Then there is the K2500, which is ideal for delivery and shuttle services for businesses. Kia has even taken the initiative to fit its K2500 Karga with plastic dividers to enforce physical distancing measures. Like the Picanto and Soluto, th K2500 Karga has a low all-in downpayment—P 18,000 or up to P 70,000 cash discount.
Before the year ends, Kia Philippines is also launching its very own Virtual Showroom. Slated for last quarter of this year, on top of the current website functions, it provides customers the opportunity to shop for a new Kia vehicle from the comfort and safety of their homes. This will be followed by the unboxing of the Stonic, a crossover designed to cater to the needs of the Filipino motorists and to provide speedy mobility for the Filipinos, by year’s end.
“The coronavirus and lockdown may have taken their toll on the local and global economy. Yet, we at Kia Philippines, are confident that we will overcome these with sales and aftersales initiatives, continuous expansion of our dealer network, entering into the digital age with a virtual showroom, and an unboxing of an all-new model,” says Manny Aligada, Kia Philippines’ President. He further adds, “All these are designed to not only jumpstart our brand but the economy as well.”