Kia sees bright spot in 'cautious' consumer behavior to drive growth

ABS-CBN News

Posted at Jul 09 2020 05:07 PM | Updated as of Jul 09 2020 08:03 PM

The KIA Stinger at the Manila International Auto Show, World Trade Center Pasay taken on April 4, 2019. File / George Calvelo, ABS-CBN News

MANILA – Kia Philippines sees a bright spot in “cautious” consumer behavior to realize revenues, as the automotive industry faces a slump, the Korean automaker said on Thursday. 

“They [consumers] could ride mass transport, the taxis, the Grabs and ride-sharing, etc. Today, even if they come back, people will be very cautious. Therefore they will work to spend that P15,000 or P16,000 a month, spend it on their own safety by purchasing a car,” said Manny Aligada, president of Kia Philippines in a press briefing.

Kia Philippines is now under Ayala-led AC Automotive, which also manages vehicle brands Volkswagen, Honda, Isuzu, KTM Motorcycles and Maxus.

“We’re now training dealers to look for individuals and enterprises that remain able to buy vehicles even during the pandemic,” he said.

Kia PH has a 1.2 percent share of the local auto market and sold 952 vehicles from January to May this year.

The company aims to grow its market share by 1.45 percent this year betting on affordable car models Picanto and Soluto, and the Kia K2500 for enterprise clients. It will open 8 dealerships until 2021, Aligada added.

—with a report from Bruce Rodriguez, ABS-CBN News