- One car every six months
- Three SUVs, one MPV
- Targets 3 lakh units every year
Kia has drawn aggressive plans for the Indian market with a new car launch scheduled for every six months starting mid-2019. Kia will open its Indian innings with the production version of the Kia SP2 Concept and is considering a line-up including a premium hatchback, a compact SUV, another premium SUV and a people mover for now. While the product mix might change a little depending upon the market, the total of six cars till 2021 is fixed.
The SP2 is a Hyundai Creta/Renault Duster competitor and Kia has indicated at a price band of Rs 10 lakhs to Rs 16 lakhs. The Creta is a regular 10,000-units-a-month club member and Kia, with its fresh take, should expect at least about 5,000 to 6,000 units in that ever-growing SUV pie. Kia is focussing on the B-segment and the C-segment of the Indian market as they are the fastest growing segments now and also in the foreseeable future.
Speaking about SUVs, there are two more SUVs being mulled, one below the SP2, competing with the likes of the Ford Ecosport, Tata Nexon and the Vitara Brezza while the other one will be above the SP2. The premium SUV can be a Tucson equivalent, especially after the Tata Harrier promising to disrupt the dynamics set by the Jeep Compass.
Kia has also said that they are considering the Carnival MPV as a luxury people mover to compete with the likes of the Innova Crysta which is having a free run as of now. A premium hatchback is also being considered and the chances of it making it to the market are quite high. That is because the premium hatchback segment which includes the Baleno and the Elite i20 is close to 30,000 units a month, presenting a lot more opportunities for Kia to be in the volume game. Also, Kia is taking on the electric-game as well with an all-electric car.
With this product offensive, Kia is targeting about 3 lakh units per annum by 2021 which would roughly be about six to seven per cent of the market share by then. Kia has already earmarked close to 70 dealers to kick off as the first product launches in 2019 and should aim at 200 touchpoints by 2021 including a presence in tier 4 cities as well.