Kia Motors gives no quarter in European sales blitz

Business is looking rosy for Kia Motors in the UK. Sales are up, auction favourability is up and residual values are up as the UK leads sales across Europe in the first quarter of 2008.

Sales are in rude health following the release of figures for the first quarter of 2008. Overall sales for March were up 18 per cent, when compared to March 2007. But more impressive is the significant kick-start to the year where sales show a 22 per cent rise overall, compared to the first quarter of 2007.

These successful figures make Kia Motors UK the leading market for Kia cars in Europe.

Globally, business has been very healthy for Kia with sales up 11.5 per cent compared to this point in 2007. Kia sold 124,767 cars around the world in March 2008 with significant sales growth in Europe (13.5 per cent), China (16.1 per cent) and on home turf in Korea (23.1 per cent) all bucking the trend of the global credit crunch.

Year-on-year figures show that Kia has increased sales by 12.3 per cent, reaching 330,887 units, around the world.

Paul Philpott, Managing Director Kia Motors UK Ltd said: ‘Without doubt, cee’d has been the major success story for us – UK customers have really taken to the car, and I can’t blame them! Who wouldn’t want the excellent build quality, frugal engines and sharp design, all backed by the best warranty in Europe; seven years and 100,000 miles? cee’d is selling so well it is the third best selling car for the brand across the globe.

‘But that is only half of the story in the UK. We’ve been working hard to increase dealer confidence and in the last 12 months we have seen major players in the retail market knocking on our door to join the Kia success story.’

Auction success
Also in the first quarter, Kia has seen a successful auction debut for cee’d, where a large number of models were sold for 120 per cent of the CAP Clean guide price. CAP responded by increasing its residual values for the model by around five per cent across the board. On this, Philpott added: ‘We’re developing the brand and product so quickly it is no surprise perceptions are still of the old Kia – with the launch of cee’d came a fresh approach and build quality which matches some of the best in the industry. Our customers see the increased quality and value of our products and are happy to pay for it. We’re glad the residual value guide books are increasing their prices for cee’d – but we think there is more to come.’