Kia Motors has developed the Stonic subcompact SUV as part of its efforts to absorb growing demand for SUVs at home and abroad amid a global economic recovery and low oil prices. (Image: Yonhap)
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.
A rendered image of the interior of Kia’s Stonic SUV (Image: Kia Motors)
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.
Kia Motors’ Stonic subcompact SUV. (Image: Yonhap)
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.
(Yonhap)
