Kia ‘most likely’ brand to increase market share

Kia is the automotive brand ‘most likely’ to increase its share of the global car market over the next five years.

This comes from the 2014 KPMG Global Automotive Executive Survey, an annual assessment of the current state of the car industry and its future prospects.

Kia have come in joint first place with fellow Korean brand Hyundai, supplanting last year’s top-spot holder Volkswagen.

The survey, which considered a total of 200 automotive industry leaders, added that: “Seventy per cent of respondents feel that the Korean manufacturer will gain a bigger market share, thanks to new models set to make a mark on the premium segments.”

Fastest growing brands in Europe

This vote of confidence in Kia from leading figures in the industry confirms the company’s own expectations for their success both in Britain and the rest of the world following a six-year period of growth that’s seen Kia sprout up as one of the fastest growing brands in Europe.

This vote of confidence in Kia’s standing from leading figures in the industry merely confirms the expectations within the company in the UK and around the world after six years of phenomenal growth and mirrors a similar response the company received in the survey three years ago.

A record 2.83 million cars sold

A record 2.83 million cars were sold by the company last year, which was nearly double the total amount of sales Kia made in 2008, the last year before the financial slump disrupted the global markets.

In the same period of time, the company’s UK sales showed a similar trend, rising from just over 31,000 in 2008 to a massive 72,090 last year, and the company’s UK market share increased from 1.78 per cent 3.5 per cent in the same time frame.

Additionally, global sales for the company have increase by 5.2 per cent in the first quarter of 2014 alone to more than 687,000 units.

The biggest area of growth has been in China with an increase of 13.3 per cent, while in Europe the market rose by 7.9 per cent to 89,000 sales. The US, meanwhile, has shown a 4.8 per cent improvement to a total of 133,000.

For UK sales, the company experience the best-ever month of progress this March with 14,787 cars sold in those four weeks alone.

Furthermore, the KPMG survey also showed positive opinions of Kia, with almost two thirds of the industry leaders who took part in the survey saying that they regarded Kia as a technology-driven brand and also forecast that the company would most likely retain their independence in the future.

The survey drew on the opinions of executives at car manufacturers, suppliers, dealers, mobility service providers and rental companies with annual revenues of above $100 million. Forty per cent of respondents were based in Europe, the Middle East or Africa while 35 per cent were in the Asia-Pacific region and the remaining 25 per cent were from the Americas.