Although Korean cars have not yet withdrawn from the Chinese market, it is a matter of time before they leave.
Recently, Kia announced its latest sales volume, according to statistics, its cumulative sales in the global market in 2023 will be 30860,000 yuan, although it also set a new high for the brand's annual sales, even higher than BYD's 3.02 million units, but I am still not optimistic about it.
Specifically, Kia sold a total of 563,660 new cars in the Korean domestic market last year, a year-on-year increase of 4Sales reached 2516383 units, excluding special-purpose vehicles, and sales increased by 6% year-on-year7%, which is really mostly dependent on overseas markets, but the reverse supply to the local or North America is particular.
What is basically certain is that Kia's sales data last year, China, as the world's largest single car market, did not contribute much sales share, according to our understanding, Yueda Kia's annual sales in 2023 are only 1660,000 units, which is not as good as the Korean domestic market.
As for why not be bullish on it?First of all, Kia does not have any core competitiveness in the Chinese market, and it has survived until now by selling cheap cars. And the most fundamental thing is that it does not pay enough attention to the Chinese market, for example, Kia Carnival uses 35L V6 engine and 16T hybrid, the domestic version is only 20t powered.
New energy vehicles in the domestic market have been crazy involuted, what is Kia doing?The new high-performance pure electric coupe Kia EV6 GT is prohibitively expensive at nearly 420,000 **, and the first truly domestic pure electric SUV Kia EV5 is also long overdue, and the Guangzhou Auto Show has just been launched.
According to the plan, Kia's sales target for 2024 is 3.2 million units, of which 530,000 units are expected to be sold in Korea and 266 units overseas30,000 units, but don't count on the Chinese market.