Kia eyes double-digit sales growth this year

MANILA, Philippines — Automotive firm Kia Philippines is targeting a 12 to 13 percent sales growth this year as it anticipates improved performance in the second half.

In an interview with reporters, Kia Philippines chief operating officer Brian Buendia said they are looking at selling a minimum of at least 7,000 units this year, assuming that its supply will come in the second half of the year.

Latest data from Kia showed that it sold a total of 2,100 units from January to May, nearly half or 48 percent came from the Stonic model. This was followed by the Soluto and the K2500 models, which accounted for 19 percent and 16 percent of sales, respectively.

Buendia is hoping that the company’s sales will be higher than the industry’s average for this year, which is targeted at 10 percent.

“Yes we hope, but the industry is performing pretty well. But we will try to catch up. Of course we want the industry to continue growing,” Buendia said, noting that matching the industry’s growth would be good for the company, considering the challenges it faced with supply disruptions.

“We’re looking at a better third and fourth quarter,”he said.

Asked for the drivers of the company’s sales growth, Buendia cited the continued strong sales of the Stonic, as well as the launch of a new model in the latter part of the year.

Buendia, who has been with AC Motors – the automotive arm of Ayala Corp. (AC) since 1998 – was recently appointed as the company’s COO.

“With Buendia’s background and experience in sales, business development and network operations, Kia Philippines is confident in his ability to anticipate and carry out crucial brand and market executions for Kia in the future,” the company said.

Buendia pointed out that Kia Philippines is already a major player in the local industry as well as in the region.

“Kia Philippines became one of the fastest-growing car brands locally and was also recognized by Kia Asia Pacific for achieving the highest growth rate in the region, as well as being the number one independent distributor in retail sales in 2022. I will build upon these accolades to further steer Kia Philippines to greater success,”he said.

Buendia said he would base his vision for Kia Philippines on its dynamic, innovative, and inspiring pillars.

“We will refine the Kia buying and ownership experience by bringing our corporate identity and culture to the fore; strengthen our industry rankings through the introduction of new and exciting models; expand our already growing nationwide dealership network; and, establish Kia as a major player in the rapidly growing electric vehicle market through our EV6 and future new energy vehicle models,”he said.