ECUADOR: Kia and Aymesa sign MOU for further KD business
Kia and its local partner Aymesa of Ecuador have signed an MOU for local assembling of the Rio. By 2002, Aymesa will complete its facilities in Quito, the country's capital city and start production of the compact car Rio in addition to Sportage, which is already being produced.
Kia is aiming for annual production in Ecuador of 10,000 cars (7,000 Rios and 3,000 Sportage).
Aymesa has been working with Kia since October 2000. In 2001, Aymesa imported a total of 3,298 Kia cars including knocked down (KD) kits.
The Ecuadorian car market is around 100,000 cars per year, with compact cars and SUVs doing particularly well. Kia's Sportage was the best selling car in the country in 2001.
Kia Motors plans to increase its Ecuadorian sales to 4,250 units in 2002.