Kia unveils updated Seltos; eyes 10% market share in PV segment
The Hindu
Kia India unveiled the updated version of its mid-sized sports utility vehicle Seltos, as it aims to garner a 10% market share in the domestic passenger vehicle (PV) segment.
Kia India on July 4 unveiled the updated version of its mid-sized sports utility vehicle Seltos, as it aims to garner a 10% market share in the domestic passenger vehicle (PV) segment.
The automaker, which currently has a market share of around 7% in the domestic market, also aims to double its existing sales network to 600+ outlets from over 300. "Seltos is the product with which we entered India, and since then, the journey of Kia India and the Seltos has been almost identical. We have a segment disruptor and a segment winner in the new Seltos and are confident to take forward the strong legacy of the brand Seltos to lead the premium RV market", Kia India managing director and CEO Tae-Jin Park said.
This strategic launch is key to the company's ambitions of attaining a 10% market share soon, he added.
"We feel that there is a lot of growth potential in the mid-SUV segment, and the new Seltos will grow the premium end of it", Mr. Park noted.
With the refreshed look, most powerful engine in the segment, and host of safety and smart features, the new Seltos inevitably will emerge as the most preferred drive for new-age customers, he added.
Seltos brand currently contributes 55% to Kia India's overall sales.
It is one of the biggest brands for the Kia Corporation, with one out of every ten Kia cars sold globally being a Seltos. The new Seltos comes with all-new interiors and various safety features, including level 2 advanced driver assistance systems.
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