Kia to Reach 4% Share of the US New-Car Market image

Kia announces it is about to reach 4% share of the US new-car market.

If the US auto industry will manage to keep its annual sales rate at 14.3 million units, this would give Kia the possibility to reach sales of about 572,000 vehicles by the end of this year.

“Our goal is not to lose market share,” Tom Loveless, executive vice president of Kia Motors USA, said at an Automotive Press Association event in Detroit. “I think we’re on pace to capture a 4 (percent) share. We finished last year at 3.8.”

At the beginning of this year the automaker’s officials set the target for the 2012 sales at 534,000 vehicles, up 10% from last year. In August Kia’s sales reached 386,809 vehicles, an increase of 17% compared with the same period last year. Loveless didn’t say what he thinks about the US auto industry’s sales this year, but said that Kia will be able to reach its target if it can keep the Optima sedan sales at the current volume, despite tough competition in the mid-sized car segment.

Kia also expects sales of its Soul compact SUV to reach 112,000 units in the US by the end of this year, up from 102,267 units in 2011. In 2013 the automaker will introduce 7 new or refreshed models, including the Forte compact vehicle and the new versions of the Sorento mid-sized crossover.