By Udita Shukla
Kia Motors recently announced the upcoming launch of three new cars in India. The proposed launch is expected to happen between 2019 and 2022. The South Korean automotive stalwart will be selling a medium-sized SUV, a sedan, and a hatchback. Kias debut not only marks a new milestone in Indias visibility on the global automotive field but also reflects the companys overseas business ambitionsa Kia facility is expected to be established in Andhra Pradesh. Kia and its suppliers are also projected to yield returns of over USD 2 billion.
Kia stays on top of its game
Kias brand slogan, the power to surprise also applies to the long-term plans it has in India. A comprehensive resource allocation for a robust supplier and a dealer base in India is currently in the making. Kia will soon establish a strengthened brand presence in the country.
The company is also focused on the marketing of its portfolio ahead of the launch, which is still nearly two years away. In order to woo potential domestic dealers and suppliers, a website is already set up and upcoming roadshows are scheduled. Although the product portfolio is still not disclosed, Kia-India website has already posted job vacancies for its stores. Customers can still get a look at Kia Stinger, which will be showcased at the 2018 Auto Expo.
Convenience and going back to basics
Despite the hullabaloo around the advent of Electric Vehicles (EV) and hybrids, customers would respond to new models of non-electric products with the same enthusiasm and openness. The market remains lucrative in the international scenario as well. Such a scenario in the Indian market is due to the lack of a consolidated and universal charging infrastructure in India.
A rigid charging network and accessibility to the right kind of chargers for various EVs are essential for the EV market to thrive. However, India has structural and functional loopholes in the electric distribution companies. Conventional fuel-powered vehicles still stand an edge over EVs by cost-effectiveness. Therefore, it is safe to set aside the electromotive renaissance, at least for several years to come.
India dresses to impress
The choice of place to unveil new products is always crucial for a company. Hence, the business and economic indicators of a country must be strong. Evidently, India shares the shining platform for foreign players to pitch in their products and offer them return on investment (RoI). Kia has explicitly stated their goal to capture a minimum of three lakh annual sales over the span of three years.
Kia Motors is South Koreas second largest automobile manufacturer and a dominant figure in the automotive industry. Only a country with a healthy and stable industrial future can grab the attention of such a conglomerate. Tae Hyun Oh, COO for Kia’s international business says, We have studied the Indian market very deeply, and would like to be one of the mainstream brands here with trend-leading premium-feel products.
A foreign ray of hope
The expansion of an automotive giant via a developing and budding economy such as India fosters market optimism and competition. It also sustains competitive pricing and creates a level ground for all the players in the market. Customers can also enjoy a broad spectrum of products, features, and technologies. They would not fall prey to predatory pricing or market monopolization by a single player. This is a promising time for the Indian automotive industry, and Foreign Direct Investment (FDI) into the sector is certainly a sign of recovery.
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