SEOUL, Feb. 3 (Korea Bizwire) — Kia Corp.’s K8 sedan saw its January sales rise sharply year on year thanks to efforts to improve its commercial value as well as to offer a cheaper price than rival models.
According to industry sources, 3,451 units of the K8 were sold last month in the domestic market, down 32 percent compared to a month ago but up 35 percent compared to a year ago.
This is not a disappointing result considering that traditionally the fourth quarter is the peak sales season for the automobile industry.
Sales of the K8 increased after all-new Grandeur model launched by Kia’s bigger affiliate Hyundai Motor Co. achieved record-breaking pre-order sales in November last year.
The K8’s predecessor, the K7, suffered cannibalization, lagging behind in competition with Grandeur models. Kia changed the model name to the K8 in 2021 as a part of efforts to boost the model’s standing.
The ‘product enhancement’ model was designed to have a length of more than 5 meters and realize a comfortable driving experience by enhancing the interior. Some features that were available as options became basic specs.
The base price for K8 starts at 33 million won (US$26,900), cheaper than the Grandeur gasoline model, which is priced at 37 million won.
Ashley Song (firstname.lastname@example.org)