KIA Philippines is targeting to sell 10,000 units this year, boosted by the newly launched subcompact sedan Soluto.
“We hope to see what we have achieved globally in this promising market as well. To prove this, Kia decided to export Soluto with the Philippines as the first export market,” Ted Lee, president of Kia Motors Asia-Pacific, during the launch of the Soluto on Wednesday.
The sub-compact sedan, according to Kia Philippines President Emmanuel A. Aligada, was assembled in China.
The Philippines was chosen as a viable market for the Soluto given the country’s “huge” small cars segment, where Kia sees an edge over other competitors.
“It’s the biggest segment that we are going to play in now,” Mr. Aligada told reporters during the event.
This year, Kia Philippines is targeting to sell 10,000 units, a significant increase from the 2,238 sales in 2018. Last year, the company saw a 57% decline in sales due to higher taxes and soaring inflation.
Half of the 2019 sales target is expected to be delivered by the Soluto.
“If we are targeting for just Soluto, we’re probably close to half of the annual target we’re planning,” Mr. Aligada said.
The company is banking on the Soluto’s ”sleek” design to attract buyers, as well as the “infotainment” features. The price of the Soluto starts at P625,000.
The Soluto brings Kia Philippines’ passenger vehicle offerings to six — with the Picanto, Rio, Sportage, Sorento and Grand Carnival.
Two more Kia vehicles will be unveiled this year — one in April at the Manila auto show and another within the third quarter.
The Wednesday event also marked Kia’s launch as an brand under the Ayala Corp.’s automotive arm and wholly-owned subsidiary, AC Industrial Technology Holdings, Inc. — Janina C. Lim
