HWASEONG, South Korea, June 27 (Yonhap) – Kia Motors Corp., South Korea’s second-largest carmaker, said Tuesday it will add a new SUV to its lineup next month to boost sales.
“The B-segment SUV market has grown fast in the past five years since 2013 to 110,000 units in South Korea. The Stonic is to attract customers in their 20s and 30s who put price and fuel efficiency first,” Kia Domestic Marketing Director Seo Bo-won said in a press conference.
In Western Europe, where demand for small SUVs is high, 1.1 million subcompact SUVs were sold last year, accounting for 7 percent of overall vehicle sales, the company said.
Early this month, Hyundai Motor Co., Kia’s larger sister company, unveiled its first subcompact SUV Kona to bolster its SUV lineup. Hyundai owns a 34 percent stake in Kia. The two together form the world’s fifth-largest carmaker by sales.