MANILA – Kia Motors Philippines on Wednesday said it would revive its local business with a new management and by introducing “sought-after” models this year.
The Seoul-based Kia Motors Corp in December signed a distribution agreement with Ayala Corp’s unit AC Industrial Technology Holdings in collaboration with previous lead distributor, Columbian Autocar Corp.
Following a “slump” in 2018, Kia aims to bring back its record 3-percent market share in 2015 by keeping prices “very attractive” for “features-rich” car models, said president Manny Aligada.
“We’re bringing in a new organization to put back the marketing efforts to revive the brand in the market,” Aligada told ANC’s The Briefing.
“We believe the brand is going to be strengthened by the new models that we will bring in,” he added.
Aligada said a "major" surprise would be introduced in April's autoshow.
Kia, which has 37 dealerships nationwide, is working with partner banks to bring back "competitive" borrowing rates as 60 percent of local car purchases are done through financing, Aligada said.
Ayala’s AC Industrials also has stakes in Honda, Isuzu, Maxus, KTM and Volkswagen in the country.