The rise and rise of Kia India

A relatively unknown brand in India barely four years ago, Kia is now a key player and the India operation jewel in the Korean carmaker's crown for export markets, writes Ajit Dalvi.

- Ajit Dalvi.

It's no easy feat entering a value-conscious market like India with a premium product and no past history. The positive is the fact that the brand is owned by the country's second-largest automobile manufacturer which has 15 percent market share as of 2022 and $5.5 billion turnover in India.

And this is where it gets more interesting. With sales of 24,025 units in November 2022, Kia India drove past the 6,00,000-units cumulative sales milestone in the domestic market. The landmark comes just 40 months after Kia, which belongs to the Hyundai Motor Group, began retail sales in the Indian market with the launch of the 16-variant Seltos midsize SUV on August 22, 2019.

Since its market entry three years and five months ago with a single product, Kia India is now a formidable player in the passenger vehicle market. As of end-November 2022, with five products - the Seltos midsize SUV, Sonet compact SUV, Carnival and Carens MPVs and the EV6 electric crossover - it has a 14.20 percent utility vehicle share. It is ranked fifth in a competitive market of 16 players, with all the rest behind it with single-digit UV market share. Clearly, it's a performance that's far better than some well-established players which have been around for far longer.