Kia Motors rules out decision to operate in India
At the time when car manufacturers from all round the globe are turning towards the Indian auto market owing to the exponential growth factor prevailing here, Kia Motors which is Korea’s second largest auto maker, has denied its operations here. The company’s top officials have stated that the company will not operate in the Indian auto market.
Kia Motors is Hyundai Motor’s subsidiary and was not impressed by the growth observed in Indian auto market. As per the statements made by the company’s officials, Kia Motors will keep concentrating on the developed markets such as China, Europe and US. These are the destinations where company currently have its production facilities.
Addressing the decision, Michael J Choo who is the spokesperson of Kia Motors commented that at present company is full in its operations and is not looking for Indian auto market for its global expansions. He also said that at present company will keep its eye only on the developed market and the target is to reach 1 million car sales in 2011. He stated that the plans for operations in India are ruled out for now but the plans may be taken up in future depending on the potential of market and company both.
Kia Motors is known for producing world class sporty look cars and is growing at an exponential rate. The company has made a great progress not just in the home market but also has excelled in exports. Since past few years the company was heard to be working on the Indian auto market but finally the company officials have shelved the plans of operations in India. The company got the inspiration of operations in Indian from the Hyundai Motors which has registered commendable progress in this market. Hyundai has reached on the heights where the sales figure have taken a high swing of 17% YoY basis amounting to 2.94 lakh cars in April-January.
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