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Thursday, January 21, 2021

Kia Philippines Targets Triple Digit Growth in 2021


Ayala-backed Kia Philippines is targeting triple-digit growth in 2021, moving back to its 2019 figure of 5,000-unit annual sales. This is good enough for a two-percent market share, doubling their current 1 percent share. This objective was revealed by Kia President Manny Aligada at a roundtable with the media.

Aligada revealed that in 2020, Kia Philippines sold a total of 2,129 units, a 57.6 percent decline compared to 2019. All in all, the Soluto remains the brand’s biggest seller, moving 827 units (38.8 percent) followed by the K2500 at 370 units (17.4 percent), and the Stonic with 345 units (16.2 percent). It’s interesting to note is that the Stonic has been received very well despite being launched just last October. Here is the full breakdown:
  • Kia Soluto - 827 units (38.8 percent)
  • Kia K2500 - 370 units (17.4 percent)
  • Kia Stonic - 345 units (16.2 percent)
  • Kia Seltos - 245 units (11.5 percent)
  • Kia Sportage - 108 units (5.1 percent)
  • Kia Picanto - 92 units (4.3 percent)
  • Kia Sorento - 74 units (3.5 percent)
  • Kia Carnival - 45 units (2.1 percent)
  • Others such as Kia Forte, Stinger, etc. - 23 units (1.1 percent)
KP Motors Corporation, as Kia Philippines is officially known, will launch at least two all-new vehicles in 2021. They may even add an additional two more depending on the exact timing. While Aligada hasn’t revealed what these vehicles are, he said it’s aligned to Kia’s global re-branding where they aim to become a more emotional, valuable brand.

The new branding will be unveiled in the Asia-Pacific region, including the Philippines from the early part of the second half of 2021.

Moreover, Kia Philippines will expand to five more locations—two more in Metro Manila, two in Luzon, and one in Mindanao in 2021. This will bring their dealer network to 45 locations.

As a whole, the Philippine auto industry dipped to 223,793 units from 2019’s figures. As the industry looks to recover starting this year, the industry is targeting 301,000-unit sales. These projections are based on how the industry started to recover in the last quarter of 2020.

Kia Philippines’ target is largely dependent on the impact of the DTI’s “safeguard measure.” At the worst, the industry is predicting a dip of 10 percent from their initial targets bringing the industry to a 273,000-unit figure in 2021.

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