Kia Philippines Motor Corp. said Tuesday its sales grew 34 percent in 2022 to 5,012 vehicles from 3,748 units in 2021.
“Kia Philippines achieved a record-breaking 34-percent sales increase as compared to 2021. This figure is higher than the auto industry’s 26 percent,” the automaker said in a statement.
The Korean brand is one of the six global brands distributed by AC Motors—a wholly-owned automotive unit of Ayala Corp. Since 2019 when Kia Philippines rebranded globally and locally, it outpaced the overall industry’s performance in terms of growth and rivaled the accomplishments of other leading brands.
The brand also achieved the highest growth rate in the Asia Pacific region and was the top independent distributor in retail sales in 2022. Customer satisfaction registered the highest improvement in the region, based on surveys conducted by Kia Asia Pacific.
Kia PH attributed the string of successes to the significant efforts pooled by dealer principals who have worked tirelessly to reach the milestones. From 30 dealers in 2018, Kia PH grew to 42 dealers in 2022.
The auto firm said dealerships nationwide were encouraged to launch rebranding schemes parallel to the rebranding efforts of Kia Corp. By end-2023, all Kia dealers will sport refreshed exteriors, and by next year, will share Kia’s revamped interior design aesthetic.
Kia will launch in March its first dedicated battery electric vehicle—the EV6 which along with its supporting charging ecosystem represent a pivotal shift into the electric vehicle market.
It noted that based on the report of Bank of Philippine Islands lead economist Jun Neri, auto sales would continue to grow at a hefty pace in 2023 after the industry showed signs of recovery in 2022.
Neri said the sustained economic recovery was expected in 2023 because of fewer international and domestic travel restrictions; easier access to consumer credit; a reduced unemployment rate boosting purchasing power and consumer credit scores; an inflation slowdown; and a more stable foreign exchange environment.
