Kia rolls out its maiden SUV Seltos

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Published: August 23, 2019 3:44:10 AM

Despite slowdown, Bhat said Kia Motors India will continue launching new products every six months. It expects to launch a new model by January 2020.

Kia Seltos, kia seltos price in india, kia india, kia motors, kia motors seltos launch, kia seltos launch, kia seltos price, kia seltos india, kia seltos variants, kia carsKookhyun Shim, MD & CEO, Kia Motors India, actor Tiger Shroff, Yong S Kim, executive director & CSO, and Manohar Bhat, VP & head, sales & marketing, at the launch of the Kia Seltos in Mumbai

Amidst one of the worst slowdown in 19 years in the automobile industry, Kia Motors India has said that the company is confident that its newly launched Seltos will see good sales. Car sales, which have remained subdued since July 2018, fell to new low of 31% y-o-y in July 2019, the sharpest decline in 19 years. Poor retail sales — due to weak consumer demand — have left dealers saddled with high inventory, as a result of which banks have been cautious in lending to dealers on fears of default.

Manohar Bhat, head (sales and marketing), Kia Motors India, said, “Slowdown is not good for anyone be it for new entrant or an established player. We have received a good number of bookings even before the prices of models were revealed. I feel that the consumer sentiment is good regarding our product which the number reflects.” Bhat was speaking on the sidelines of the company’s new product launch, Seltos.

The company has garnered a robust booking figure of over 32,000 since the pre-booking started in July. “Our prime focus right now is to deliver the vehicle as soon as possible to customers who have booked it already. Our plant in Anantpur, Andhra Pradesh is well capable to meet the demands,” Bhat said. The plant in Anantpur has a production capacity of 3 lakh units annually.

Speaking about the funding challenge that dealers are facing from banks, Bhat said, “Due to downturn, finance companies are more cautious in lending money to dealers. So, we have tied up with eight banks to maximise options for our dealers when it comes to lending money.”

Despite slowdown, Bhat said Kia Motors India will continue launching new products every six months. It expects to launch a new model by January 2020.

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