South Korea’s Kia Motors Corp has recently announced it predicts annual worldwide sales for 2015 of 3.1 million units, according to the company’s chief operating officer Tae-Huyn Oh.
The automaker, an affiliate of Hyundai Motor within the Hyundai group and when taken together counting as the world’s fifth-largest automaker, has delivered a total of three million autos last year. The carmaker on the other hand is not going through positive times, as the May sales on a global level slid five percent – in line with its larger brethren that has also lost steam across the worldwide markets. The duo suffers from a lack of sport utility models to lift sales, as the heavy-sedan lineup has fallen out of favor with consumers across the world, which are turning their attention to crossovers, sport utility vehicles and pickup trucks. “We have to admit that the global market isn’t in a good rhythm,” commented Oh on the sidelines of an event in Mexico City, Mexico, though he expressed his conviction the company would retaliate and overcome issues during the second quarter of the year.
The pressure across worldwide markets includes plummeting sales in Russia- which was once billed as the European market able to surpass Germany and assume the No.1 position on the continent. The executive added that slumping oil prices are turning consumers away from fuel efficient models towards crossovers and SUVs, while conflicts around the world impact sales in unpredictable ways. Back in January, the automaker set a goal of selling 3.15 million autos this year and is currently spending at least one billion dollars to construct its first Mexico plant, set to start production during the first quarter next year.