- Kia to manufacture top selling MPV in China market in 2004
- Targeting total China sales of 70,000 vehicles in 2004
SEOUL December 5 2003 ? Kia Motors will produce the top-selling Carnival minivan in the Chinese market next year. The vehicles will be built on a knock-down basis at Kia’s plant in Yencheng City, Jiangsu Province.
Sales of recreational vehicles in China have almost doubled over the first ten months of this year to 139,098. January to October sales in 2002 numbered 71,068 units.
Kia is renovating its Yencheng plant to accommodate a total vehicle production capacity of 100,000 units from the current 50,000. The renovation should be completed by June of next year. Additional facilities are also being installed for an exclusive Carnival assembly line.
Kia sales to November this year number 47,047 vehicles; 40,394 units of the Cheolima and 6,680 units of the Pride. This is an increase of 177 percent over the 16,994 sold during the same period last year and puts Kia on track to exceed its original sales target for 2003 of 50,000 vehicles.
Kia Motors COO Yong Hwan Kim said, “Adding the Carnival to our assembly operation adds considerably to Kia’s competitiveness in China. China is a key strategic market in our goal to become a global top five automaker by 2010.”
The Carnival was launched in 1999 and since then has sold 636,163 units, 332,130 in the domestic Korean market and 334,033 overseas. With the addition of the Carnival into Kia’s China lineup, next year’s sales target is expected to increase to 70,000 units from this year’s 50,000 units.
Kia first began operations in China in 1996, selling the Pride small car. In 2002 Kia entered into a joint partnership with the Dongfeng Automotive Group, one of China’s leading automotive companies, and subsequently established Dongfeng Yueda Kia Motor Co., Ltd. (DYK) in March of 2002.
Kia Motors Corporation (www.kiamotors.com) is among the world's fastest growing automobile companies. As part of the Hyundai-Kia Automotive Group, Kia aims to be a top five global automaker by 2010. Kia's 15 manufacturing and assembly operations in 12 countries make more than a million vehicles a year that are sold and serviced through a network of distributors and dealers covering 190 countries. Founded in 1944, Kia is Korea's oldest manufacturer of automobiles. Kia today has 30,000 employees and annual revenues of $12 billion. It is the major sponsor of the Australian Tennis Open and the international sponsor of the Davis Cup for the Euro/Africa zone.