Kia Motors has cut its South Korean home market sales target for this year by more than 10% to 440,000 vehicles, citing sluggish demand, local media reported, according to Reuters. Citing a report by Internet news provider MoneyToday, Reuters said Kia, an affiliate of Hyundai Motor, also attributed the lowered local sales target to fierce competition with rivals GM Daewoo Automotive & Technology Co and Renault Samsung Motors.