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Kia India to Reduce Exports to Boost Supply for Domestic Market
Kia India to Reduce Exports to Boost Supply for Domestic Market
Published On: 15 December 2023
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Kia exports 20% of all its models from its facility to global markets. The company will bring down this number by 10% to increase supply for the domestic market.
Kia India is planning to boost its supply capacity, sales network, and production range in the Indian market. To enhance supply to its buyers, the automaker is focusing on reducing the number of its exports while at the same time improving production capacity at its facility located in Andhra Pradesh.
As of now, Kia offers cars like the Carens MPV, Seltos SUV, and the EV6 electric in India. The company unveiled the all-new Kia Sonet on Thursday. This model was initially launched in 2020. Kia also exports a few of these variants to international markets. The automaker is launching new variants to counter its rival in the Indian market, which is the third-largest automotive market when it comes to sales. The MD and CEO of Kia India, Tae-Jin Park, stated that, “We have an aggressive business plan for next year. We are looking to add 100 more sales outlets and enhance installed production capacity by 1 lakh units."
Kia India exports its cars from its plant in Andhra Pradesh. This plant has a capacity of producing around 3.4 lakh units every year. Kia also exports 20% of all its models from its facility to international markets. The company will bring down this number by 10% to increase supply for the domestic market.
The Korean automaker set foot in the Indian market in 2019 with Kia Seltos, and it is now one of the key manufacturers in India’s passenger vehicle (PV) segment. Due to growing competition between carmakers in the industry, Kia has also improved its approach to maintain its current position.
Kia India currently has 429 sales outlets in India, and this number will be multiplied by setting a solid presence in Tier III and Tier IV cities. The automaker will launch the EV9 and the new Carnival in India sometime in 2024. It is also planning to unveil a sports utility vehicle larger than the new Seltos SUV.
