Kia India experienced YoY sales growth for each of its models while MoM sales dipped for all except the Sonet
Since Kia India entered markets in August 2019, sales have reached the 6.75 lakh unit mark in the domestic market while exports stood at 1.9 lakh units. The company conducts its export operations to 95 countries.
Kia India sales in February 2023 improved by 35.75 percent on a YoY basis from 18,121 units sold in Feb 2022. However, the company was in the red when taking MoM sales into account.
Kia India Sales Feb 2023
It may be recalled that Kia India had reported its highest ever sales in Jan 2023 at 28,634 units. This was a 14.09 percent MoM de-growth when assessing these sales against the company performance in Feb 2023 with a volume de-growth of 4,034 units.
Kia Sonet was the best-selling model in the company portfolio in Feb 2023. Sales increased by 59.83 percent YoY to 9,836 units from 6,154 units sold in Feb 2022. This was a 3,682 unit volume growth. The Sonet commands a 39.98 percent share. MoM sales also increased by 6.21 percent from 9,261 units sold in Jan 2023. However, this was the only model on the company portfolio to post a MoM growth.
At No. 2 was Kia Seltos. Sales improved 21.86 percent YoY to 8,012 units in Feb 2023 from 6,575 units sold in Feb 2022 relating to a 1,437 unit volume growth and 32.57 percent share. Performance had been better in Jan 2023 when sales of the Seltos had stood at 10,470 units. This was therefore a 23.48 percent MoM de-growth.
Sales of the Carens improved 22.29 percent YoY to 6,248 units in Feb 2023 from 5,109 units sold in Feb 2022 while MoM sales dipped 20.91 percent from 7,900 units sold in Jan 2023. The company has celebrated 1 year since launch of the Carens, with total sales of 76,904 units, an average of 6,000 units per month. The Carens was also among the top 10 utility vehicles sold in CY 2022 with 62,756 units sold.
Kia India has seen increased demand for the Carnival on a YoY basis. It improved by 78.09 percent to 504 units in Feb 2023 from 283 units sold in Feb 2022. However, it was poor MoM performance with a 49.75 percent de-growth from 1,003 units sold in Jan 2023.
Kia India Price Hike
Kia India also announced a price hike from March 2023 as all its models will now comply with RDE stringent emission standards. The price hike will be across portfolio and will range between Rs. 25,000 and Rs. 50,000 depending on model and powertrain. This will be the second price hike this calendar year, the first being in Jan 2023.