SOUTH KOREA: Kia sets K7 targets
Kia Motors has set a domestic sales target of 35,000 units and exports target of 5,000 units for its new K7 large sedan.
In 2011 the domestic sales target will be 40,000 units and exports 25,000 units, the Korea Herald said.
If the 40,000 units target is met, Kia will take about 40% of the country's market for the segment. According to a Kia official, the market for full-sized sedans is about 100,000 units.
Outside of Korea, the K7 will first be introduced in Asian and Middle Eastern markets followed by China and Latin American nations, the company said.
The company plans to introduce the vehicle to North American markets in 2011.
The vehicle is available with 2.4-, 2.7- or 3.5-litre petrol engines. A 2.7-liter LPG engine is also available for taxis and versions for disabled buyers.