The Ray EV, open for pre-orders since August 22, recently achieved a significant milestone by reaching the 10,000 unit mark. (Image courtesy of Kia)
SEOUL, Dec. 4 (Korea Bizwire) – Kia’s compact recreational vehicle (RV), the Ray, has achieved a noteworthy milestone by securing its highest annual sales on record this year.
As per the November sales report disclosed by Kia on Sunday, the Ray witnessed a surge in sales, with 4,587 units sold in the domestic market last month—an increase of 11.9 percent compared to the same period last year, marking the highest monthly sales volume.
The cumulative sales for January to November 2023 exhibited a robust growth of 15.9 percent, reaching a total of 46,676 units. This surpasses the previous annual sales record for the Ray, which stood at 45,666 units last year.
This remarkable achievement in sales signifies the seventh consecutive year of growth for the Ray, a trend that commenced in 2017.
The driving force behind the Ray’s sustained sales growth is attributed to the introduction of the Ray EV, a project five years in the making.
Kia initially launched a Ray EV model in late 2011 but discontinued it in 2018 due to infrastructure limitations and a short driving range. However, in September of this year, the company successfully reintroduced the Ray EV featuring a 35.2 kWh lithium iron phosphate (LFP) battery, providing a city driving range of 233 kilometers on a single charge.
In comparison to the gasoline model, the Ray EV boasts a 15 percent increase in peak power and a 55 percent boost in maximum torque. With a competitive price point of around 20 million won after subsidies, the Ray EV has gained popularity.
The Ray EV, open for pre-orders since August 22, recently achieved a significant milestone by reaching the 10,000 unit mark.
Analyzing the demographics of Ray customers, more than 70 percent are in their 30s and 40s, a trend interpreted by Kia as indicative of a growing interest among young individuals seeking a lifestyle electric vehicle.
Moreover, the sales of the gasoline model have also experienced an uptick since the launch of the EV, with October and November sales rising by 39.3 percent and 11.9 percent, respectively, compared to the same periods last year.
Kevin Lee (kevinlee@koreabizwire.com)
