April 25, 2024
Automobiles
Kia launches new subcompact in China
[THE INVESTOR] Kia Motors has launched a new subcompact in China as part of efforts to revive lackluster sales in the world’s biggest vehicle market, the company said on Sept. 27.
The Pegas subcompact went on sale in China earlier this week where the Korean carmaker has suffered sharp sales declines this year due to bilateral diplomatic issues.
The new vehicle comes with a 1.4-liter engine and a five-speed manual transmission or a four-speed automatic transmission, mainly targeting customers in their 20s and 30s.
Seoul and Beijing have been at odds over the deployment of THAAD missile defense system.
Such political tensions resulted in China‘s ban on the sale of group tours to Korea and boycott campaigns against Korean products in China.
In the January-August period, Kia sold a total of 172,674 vehicles in China, down 53 percent from 368,686 a year earlier.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The Pegas subcompact went on sale in China earlier this week where the Korean carmaker has suffered sharp sales declines this year due to bilateral diplomatic issues.
The new vehicle comes with a 1.4-liter engine and a five-speed manual transmission or a four-speed automatic transmission, mainly targeting customers in their 20s and 30s.
Seoul and Beijing have been at odds over the deployment of THAAD missile defense system.
Such political tensions resulted in China‘s ban on the sale of group tours to Korea and boycott campaigns against Korean products in China.
In the January-August period, Kia sold a total of 172,674 vehicles in China, down 53 percent from 368,686 a year earlier.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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