- 14,000 exports targeted for Russian market in 2004
- New Sportage to be introduced next year on the heels of the Picanto and Cerato
(SEOUL) September 2, 2004 - Kia Motors announced today that it has introduced to the Russian market its latest mid-sized release, the Cerato Euro 5-door hatchback, at the 2004 Moscow International Motor Show. Kia expects that this new addition to its line-up will help the company capture a significant share of the country’s C-segment market.
According to Dong-Sik Suh, President of Kia’s Central Europe & CIS regional headquarters, “With the introduction of the Cerato Euro, which has already taken much of Europe by storm, we are confident that the Kia brand will see a significant rise in popularity in the rapidly expanding Russian automobile market.”
From January to July of 2004, 11,757 Kia vehicles were sold in the Russian market, accounting for a 6.5 percent share of all imported cars. This figure is more than double the 5,431 vehicles sold by the Korean automaker during the same period of last year; and the company has already surpassed its 2003 total Russian sales of 11,546 units.
Kia officials anticipate that the Russian economy will expand by at least 5% in 2004, and, accordingly, are conducting aggressive new model launches and marketing activities to take advantage of this growth. In addition to last year’s introduction of the Opirus luxury sedan and this year’s two new entrants -- the A-segment Picanto and the C-segment Cerato Euro -- Kia plans to launch the highly anticipated new Sportage compact SUV in 2005.
Starting next year, Kia’s local joint venture partner plans to mass produce Kia vehicles on a knockdown basis, thus further strengthening Kia’s position in the Russian market.
Based on favorable sales of the Rio compact sedan, Sorento SUV, Magentis mid-sized sedan, and other popular models, Kia Motors expects exports to Russia to increase by 35% to 14,000 units in the current year.
Founded in 1944 and now celebrating its 60th anniversary, Kia Motors Corporation (www.kiamotors.com) is Korea’s oldest manufacturer of automobiles. As part of the Hyundai-Kia Automotive Group, Kia is among the world’s fastest growing automobile companies and 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. Kia today has 30,000 employees and annual revenues of $12 billion. It is the major sponsor of the Australian Tennis Open and an international sponsor of the Davis Cup.